Tesla, Blockstream and Jack Dorseys Block Team-up to Mine Bitcoin Sustainably Blockchain News, Opinion, TV and Jobs

Analyst Marcus Sotirio A UK-based digital asset broker GlobalBlock

Blockstream, Jack Dorsey’s Block (formerly Square), and Tesla have worked together to mine Bitcoin in a sustainable way using renewable energy. They announced that they are working on a solar and battery-powered Bitcoin mine in Texas that uses Tesla’s solar and storage technology. “This is a step to prove our theory that Bitcoin mining can fund zero-emission power infrastructure and build future economic growth,” said Adam Back, CEO of Blockstream. I am.

This could have significant implications for the future of Bitcoin mining as this integration creates financial incentives for the deployment of renewable energy infrastructure. Blockstream said its primary goal is to ultimately strengthen the Bitcoin network by diversifying the energy sources of cryptocurrencies.

Neil Jorgensenat, Project Leader (and Global ESG Lead) for Block, this Clean Energy Initiative, said: This is to further accelerate the synergistic effect of Bitcoin and renewable energy. “

Bitcoin bulls make Bitcoin more environmentally friendly after Greenpeace, the Environmental Working Group and Ripple’s Chris Larsen launched a campaign last week and Bitcoin mining was attacked by carbon dioxide emissions. I am delighted to see the progress made for. This campaign is called “Climate Change: Not a Code” and the energy Bitcoin is using to force the community to move from proof of work to another consensus mechanism or change the current proof of work. A model that aims to raise awareness of.

Bitcoin’s climate change problem will become more prominent, so we will have to come up with a solution. Chris Larsen believes that using renewable energy to mine Bitcoin is not a good solution as fossil fuels are cheaper around the world, especially in countries like Saudi Arabia. It seems that.

We are confident that in the next few years we will see who is right and the Bitcoin community will be able to adapt to make Bitcoin sufficiently environmentally friendly.