{"id":465110,"date":"2021-06-05T19:13:33","date_gmt":"2021-06-05T19:13:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=465110"},"modified":"2024-06-11T13:56:11","modified_gmt":"2024-06-11T13:56:11","slug":"square-blockstream-bitcoin-mine-us","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/square-blockstream-bitcoin-mine-us\/","title":{"rendered":"Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy"},"content":{"rendered":"<p>Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. Blockstream and Square have announced a partnership to build one in the U.S. based on renewable energy.<\/p>\n<p>The Bitcoin infrastructure startup, led by<a href=\"https:\/\/uniquehot.com\/news\/blockchain\/blockstream-ceo-adam-back-how-bitcoin-sidechains-could-destroy-altcoins\/\" target=\"_blank\" rel=\"noopener \"> Adam Back<\/a>, and the financial services company, led by <a href=\"https:\/\/uniquehot.com\/news\/someone-paid-1500-eth-for-jack-dorseys-nft-compares-it-to-the-mona-lisa\/\" target=\"_blank\" rel=\"noopener \">Jack Dorsey<\/a>, will create an open-source Bitcoin mining facility driven by solar energy. The BTC mine will be constructed on a Blockstream mining site located in the United States.<\/p>\n<p>Their objective is to share details on the project\u2019s economics and their experience in the development of the facility. In addition, they plan to raise awareness and demonstrate BTC mining and renewable energy can be a catalyzer for a transition towards clean energy.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Together with <a href=\"https:\/\/twitter.com\/Square?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@Square<\/a>, we&#39;re building an open-source fully solar-powered <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> mining facility at one of our US <a href=\"https:\/\/twitter.com\/hashtag\/BlockstreamMining?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BlockstreamMining<\/a> locations to demonstrate how <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> mining and renewables can drive the clean energy transition. \u2600\ufe0f\u26cf\ufe0f <a href=\"https:\/\/t.co\/0D4yKOe82M\" rel=\"nofollow\">https:\/\/t.co\/0D4yKOe82M<\/a> <a href=\"https:\/\/t.co\/HdVhe031GY\" rel=\"nofollow\">pic.twitter.com\/HdVhe031GY<\/a><\/p>\n<p>&mdash; Blockstream (@Blockstream) <a href=\"https:\/\/twitter.com\/Blockstream\/status\/03809796?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 5, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Square will invest $5 million and Blockstream will provide the infrastructure and expertise to help build the project. Ultimately, it will be a Proof-of-Concept used to demonstrate that green Bitcoin mining at scale it\u2019s possible. Thus, the need for transparency in every detail. Chris Cook, CIO and head of Mining at Blockstream said:<\/p>\n<blockquote><p>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.<\/p><\/blockquote>\n<h2>Bitcoin, A Tool To Build A Sustainable Future<\/h2>\n<p>Once built, the BTC mining facility will allow other participants to expand the operations. It will be designed to be scalable and with the capacity to add more support for future growth.<\/p>\n<p>Neil Jorgensen, Global ESG Lead at <a href=\"https:\/\/uniquehot.com\/news\/square-revenues-triple-fueled-by-bitcoin-purchases\/\" target=\"_blank\" rel=\"noopener \">Square<\/a>, revealed to be excited about the partnership and along with Blockstream will contribute with a working model to prove their thesis. Jorgensen added:<\/p>\n<blockquote><p>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.<\/p><\/blockquote>\n<p>Blockstream will provide regular reports on the project and will have a publicly available dashboard to display real-time metrics on the BTC mine\u2019s performance. This will include its power output and the amount of BTC mined. The dashboard will be based on a technology called Blockstream Mining Note (BMN).<\/p>\n<p>Square has made several efforts to support the growth of Bitcoin and its ecosystem. The <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/why-bitcoin-could-be-the-key-for-the-future-of-clean-energy\/\" target=\"_blank\" rel=\"noopener \">Dorsey-led company published a Whitepaper with firm Ark Invest on a system based on renewable power<\/a> to drive batteries and use BTC mining to absorb the excess energy.<\/p>\n<p>During a discussion with Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation, in the Bitcoin 2021 Conference, Dorsey <a href=\"https:\/\/www.youtube.com\/watch?v=rSSnyJpFNZU\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a>:<\/p>\n<blockquote><p>Ultimately miners have to make a profit and getting cheap renewable energy maximizes their potential for profit (\u2026). Bitcoin over time and today does incentivized more renewable energy and awareness about how they are getting that power. It gives people freedom to convert wasted power into something that creates value for billions of people around the world.<\/p><\/blockquote>\n<p><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/elon-musks-heartbreak-tweet-sends-bitcoin-tumbling\/\" target=\"_blank\" rel=\"noopener \">BTC trades<\/a> at $36,132 with a persistent sideways trend after an over 50% correction in the past week. In the 7-day and 30-day charts, BTC has a 1.2% profit and a 37.1% loss, respectively.<\/p>\n<figure id=\"attachment_465117\" aria-describedby=\"caption-attachment-465117\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-465117 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-3.png?resize=860%2C512\" alt=\"Bitcoin BTC BTCUSD\" width=\"860\" height=\"512\"><figcaption id=\"caption-attachment-465117\" class=\"wp-caption-text\">BTC with sideways movement in the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/a4lKch7J\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. Blockstream and Square have announced a partnership to build one in the U.S. based on renewable energy. The Bitcoin infrastructure startup, led by Adam Back, and the financial services company, led by Jack Dorsey, will create an open-source Bitcoin mining facility driven by solar energy. The BTC mine will be constructed on a Blockstream mining site located in the United States. Their objective is to share details on the project\u2019s economics and their experience in the development of the facility. In addition, they plan to raise awareness and demonstrate BTC mining and renewable energy can be a catalyzer for a transition towards clean energy. Together with @Square, we&#39;re building an open-source fully solar-powered #Bitcoin mining facility at one of our US #BlockstreamMining locations to demonstrate how #BTC mining and renewables can drive the clean energy transition. \u2600\ufe0f\u26cf\ufe0f https:\/\/t.co\/0D4yKOe82M pic.twitter.com\/HdVhe031GY &mdash; Blockstream (@Blockstream) June 5, 2021 Square will invest $5 million and Blockstream will provide the infrastructure and expertise to help build the project. Ultimately, it will be a Proof-of-Concept used to demonstrate that green Bitcoin mining at scale it\u2019s possible. Thus, the need for transparency in every detail. Chris Cook, CIO and head of Mining at Blockstream said: 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. Bitcoin, A Tool To Build A Sustainable Future Once built, the BTC mining facility will allow other participants to expand the operations. It will be designed to be scalable and with the capacity to add more support for future growth. Neil Jorgensen, Global ESG Lead at Square, revealed to be excited about the partnership and along with Blockstream will contribute with a working model to prove their thesis. Jorgensen added: 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. Blockstream will provide regular reports on the project and will have a publicly available dashboard to display real-time metrics on the BTC mine\u2019s performance. This will include its power output and the amount of BTC mined. The dashboard will be based on a technology called Blockstream Mining Note (BMN). Square has made several efforts to support the growth of Bitcoin and its ecosystem. The Dorsey-led company published a Whitepaper with firm Ark Invest on a system based on renewable power to drive batteries and use BTC mining to absorb the excess energy. During a discussion with Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation, in the Bitcoin 2021 Conference, Dorsey said: Ultimately miners have to make a profit and getting cheap renewable energy maximizes their potential for profit (\u2026). Bitcoin over time and today does incentivized more renewable energy and awareness about how they are getting that power. It gives people freedom to convert wasted power into something that creates value for billions of people around the world. BTC trades at $36,132 with a persistent sideways trend after an over 50% correction in the past week. In the 7-day and 30-day charts, BTC has a 1.2% profit and a 37.1% loss, respectively.<\/p>\n","protected":false},"author":535,"featured_media":463951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-465110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy<\/title>\n<meta name=\"description\" content=\"Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy","description":"Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy","url":"http:\/\/uniquehot.com\/news\/square-blockstream-bitcoin-mine-us\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/square-blockstream-bitcoin-mine-us\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/bitcoin-5155180_1280.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/bitcoin-5155180_1280.jpg?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-06-05T19:13:33Z","datePublished":"2021-06-05T19:13:33Z","dateModified":"2024-06-11T13:56:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/square-blockstream-bitcoin-mine-us\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/square-blockstream-bitcoin-mine-us\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/bitcoin-5155180_1280.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/bitcoin-5155180_1280.jpg?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-06-05T19:13:33Z\",\"datePublished\":\"2021-06-05T19:13:33Z\",\"dateModified\":\"2024-06-11T13:56:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/bitcoin-5155180_1280.jpg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/465110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=465110"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/465110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463951"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=465110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=465110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=465110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}