Bitcoin technology company Blockstream has partnered with Jack Dorsey’s payments company Square to construct a solar-powered Bitcoin mining facility, according to June 5 press release.

The aim of the initiative is to highlight how Bitcoin can accelerate the adoption of green energy.    

The open-source renewable mining project will receive a $5 million investment from Square.

Blockstream CIO Chris Cook claims that renewable energy 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. We’re hoping to demonstrate that a renewable mining facility in the real world is not only possible but also empirically prove that Bitcoin accelerates the world toward a sustainable future. 

As reported by U.Today, Square is also intending to create its own Bitcoin hardware wallet.  

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At the Bitcoin 2021 Conference, Dorsey said that he would be willing to leave Square and Twitter to work on Bitcoin: 

If I were not at Square or Twitter, I would be working on bitcoin. If [Bitcoin] needed more help than Square or Twitter, I would leave them for Bitcoin.