Jack Dorsey’s Square Inc. to Invest $5M in Blockstream Bitcoin mining facility

    Square Inc., known as a well-known crypto-friendly mobile payment company, plans to make an investment of around $5 million in a solar-powered Bitcoin mining facility with the motive to do Blockstream mining. It will further provide greater information regarding Jack Dorsey’s continued support that he will offer for the blockchain development according to the infrastructural need.

    Chris Cook, known as a Chief information officer of Blockstream, has made a declaration for the mutual partnership while highlighting the plans to build an open-sourced mining capability at one of Blockstream’s operations organized by the United States.

    Along with offering the regular report for the project status, the new initiative will also be taken that is known as the public performance dashboard, where anyone can pull out the real-time metrics of the mining facility.

    Bitcoin mining is also a subject of extreme media scrutiny after Elon Musk, the CEO of Tesla has decided to avoid accepting the BTC payments for Tesla cars while focusing on environmental concerns. Michael Saylor of MicroStrategy has made a treaty between Musk and the Bitcoin mining society by taking both sides’ high-level talks to the table. The Bitcoin Mining Council, led by industry, emerged from the meeting while focusing more on accelerating sustainability initiatives.

    As for Square Inc., the company that Jack Dorsey directs has been putting all their hard work into boosting the embracement of Bitcoin and Cryptocurrencies. According to the report, Dorsey is actually allowing for the development of a Bitcoin hardware wallet with the motive to bring self-custody and financial inclusion to the ample.

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