Jack Dorsey’s Square commits $10M to green energy for Bitcoin mining
As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims to “support companies that help drive adoption and efficiency of renewables within the Bitcoin ecosystem.” Square is the firm behind CashApp — a major force in bringing crypto to regular users. In today’s announcement, Square identified Bitcoin as “a unique part of Square’s footprint.” Jack Dorsey, CEO of both Square and Twitter, said: The carbon footprint of the Bitcoin network has been the subject of a great deal of controversy over the years. A 2019 study estimated BTC’s total carbon output as comparable to that of some small countries. Research from last week calls those numbers into question. buy innosilicon a11 Complicating the controversy are the particular sources of power for BTC mining. As the network’s mining industry has gotten more competitive, major miners flock to areas already producing surplus energy to maximize profit margins. Hydr...
