{"id":162386,"date":"2021-06-07T01:00:09","date_gmt":"2021-06-06T19:30:09","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=162386"},"modified":"2021-06-06T15:08:40","modified_gmt":"2021-06-06T09:38:40","slug":"these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\/","title":{"rendered":"These 2 companies are working on a solar-powered Bitcoin mining facility"},"content":{"rendered":"<p>Not so long ago, Michael Saylor, MicroStrategy CEO <a href=\"http:\/\/ambcrypto.com\/heres-the-sudden-shift-expected-with-bitcoin\/\">stated<\/a> Bitcoin to be the &#8216;greatest customer&#8217; for renewable energy in the world. The world&#8217;s largest cryptocurrency has had a fair share of criticism in the past, but nothing quite as significant as its ESG concerns.<\/p>\n<figure id=\"attachment_162389\" aria-describedby=\"caption-attachment-162389\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM.png\"><img decoding=\"async\" class=\"size-large wp-image-162389\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM-1024x385.png\" alt=\"\" width=\"740\" height=\"278\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM-1024x385.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM-300x113.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM-768x289.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM-1536x577.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-1.47.59-PM.png 1836w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-162389\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/digiconomist.net\/bitcoin-energy-consumption\">Digiconomist<\/a><\/figcaption><\/figure>\n<p>The entire concept around sustainability over Proof-of-work vs proof-of-stake debate has taken the crypto industry by storm. The most recent news involving Tesla and China&#8217;s energy FUD indeed injected fresh disarray in the market.<\/p>\n<p><strong>Can THIS be a game-changer?<\/strong><\/p>\n<p>As per the recent <a href=\"https:\/\/blockstream.com\/2021\/06\/05\/en-blockstream-and-square-inc-join-forces-for-solar-powered-bitcoin-mining\/\">announcement<\/a>, Bitcoin technology company Blockstream has partnered with Square Inc. to construct a solar-powered Bitcoin mining facility. According to the aforementioned collaboration, Square\u00a0&#8216;will invest $5 million and Blockstream will provide the infrastructure and expertise to help build the project.&#8217;<\/p>\n<p>https:\/\/twitter.com\/Blockstream\/status\/1401224554194821121<\/p>\n<p>Additionally, the new initiative will also feature a so-called public performance dashboard, where anyone could pull real-time metrics of the mining facility.\u00a0The dashboard will be based on a technology called Blockstream Mining Note (BMN).<\/p>\n<p>Chris Cook, Blockstream\u2019s CIO\u00a0and head of Mining said:<\/p>\n<blockquote><p>&#8220;Many mining operations throughout the world, including our own, already rely on renewable energy because it is the most cost-effective power available. Together with Square, we hope that the open and transparent nature of the project will become a model that other businesses can learn from.&#8221;<\/p><\/blockquote>\n<p>Similarly, Neil Jorgensen, Global ESG Lead at Square stated:<\/p>\n<blockquote><p>&#8220;The project will serve as an ongoing, transparent case study that will allow us to all learn together the specific unit economics of clean energy Bitcoin mining. We can\u2019t wait to start sharing our results with the community.&#8221;<\/p><\/blockquote>\n<p>Jack Dorsey and his firm, Square have been a major voice for bitcoin in the past as well. Recently, it <a href=\"https:\/\/assets.ctfassets.net\/2d5q1td6cyxq\/2D2BnksJjavw4a6SUvAPwZ\/c42a9e3a520b0cc3b230cda3b43eead5\/BCEI_White_Paper_.pdf\">published<\/a> a paper, with Ark investment on bitcoin&#8217;s potential to tap renewable energy.<\/p>\n<figure id=\"attachment_162405\" aria-describedby=\"caption-attachment-162405\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM.png\"><img decoding=\"async\" class=\"size-large wp-image-162405\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM-891x1024.png\" alt=\"\" width=\"740\" height=\"850\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM-891x1024.png 891w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM-261x300.png 261w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM-768x882.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/06\/Screen-Shot-2021-06-06-at-11.21.20-AM.png 967w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-162405\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/assets.ctfassets.net\/2d5q1td6cyxq\/2D2BnksJjavw4a6SUvAPwZ\/c42a9e3a520b0cc3b230cda3b43eead5\/BCEI_White_Paper_.pdf\">Whitepaper<\/a><\/figcaption><\/figure>\n<p>Furthermore, to extend his support, the Twitter CEO, while speaking at the Bitcoin 2021 Conference, <a href=\"https:\/\/www.youtube.com\/watch?v=rSSnyJpFNZU\">opined<\/a>:<\/p>\n<blockquote><p>&#8220;Ultimately miners have to make a profit and getting cheap renewable energy maximizes their potential for profit (\u2026). Bitcoin over time and today do incentivize more renewable energy and awareness about how they are getting that power. It gives people the freedom to convert wasted power into something that creates value for billions of people around the world.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Not so long ago, Michael Saylor, MicroStrategy CEO stated Bitcoin to be the &#8216;greatest customer&#8217; for renewable energy in the world. The world&#8217;s largest cryptocurrency has had a fair share of criticism in the past, but nothing quite as significant as its ESG concerns. The entire concept around sustainability over Proof-of-work vs proof-of-stake debate has<a href=\"https:\/\/ambcrypto.com\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\/\">Continue reading <span class=\"sr-only\">&#8220;These 2 companies are working on a solar-powered Bitcoin mining facility&#8221;<\/span><\/a><\/p>\n","protected":false},"author":68,"featured_media":55743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-162386","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>These 2 companies are working on a solar-powered Bitcoin mining facility - AMBCrypto<\/title>\n<meta name=\"description\" content=\"As per the recent announcement, &#039;Bitcoin technology company Blockstream has partnered with Square Inc. to construct a solar-powered Bitcoin mining facility.&#039;\u00a0According to the aforementioned collaboration, Square\u00a0&#039;will invest $5 million and Blockstream will provide the infrastructure and expertise to help build the project.&#039;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"These 2 companies are working on a solar-powered Bitcoin mining facility - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Not so long ago, Michael Saylor, MicroStrategy CEO stated Bitcoin to be the &#039;greatest customer&#039; for renewable energy in the world. The world&#039;s largest\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-06T19:30:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2018\/11\/jason-blackeye-108022-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shubham Pandey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/crypto_shubham\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shubham Pandey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/\"},\"author\":{\"name\":\"Shubham Pandey\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/7710783316829dfc843195d4eafda9e4\"},\"headline\":\"These 2 companies are working on a solar-powered Bitcoin mining facility\",\"datePublished\":\"2021-06-06T19:30:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/\"},\"wordCount\":406,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2018\\\/11\\\/jason-blackeye-108022-unsplash.jpg\",\"articleSection\":[\"Bitcoin\",\"BTC Trading View\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/these-2-companies-are-working-on-a-solar-powered-bitcoin-mining-facility\\\/\",\"name\":\"These 2 companies are working on a solar-powered Bitcoin mining facility - 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