Blockstream, the blockchain-focused company spearheaded by Adam Back, will develop and manage zero-emission Bitcoin mining facilities with the first to be built in North America. The firm’s initiative will come to life through a partnership with an Australian multinational independent investment bank – Macquarie Group.
- The Canada-based blockchain company continues with its effort to minimize the environmental damage caused by Bitcoin mining.
- The latest initiative comes through partnership with Macquarie – an Australian financial services giant with over $400 billion in AUM.
- Both parties will work on zero-emission Bitcoin mining facilities with the first to see the light of day in North America. The statement didn’t provide a precise timeframe when it will be operational but said the initiative has “the potential to scale in stages as green power infrastructure is deployed.”
- This is the second announcement from Blockstream in regards to developing green mining facilities for Bitcoin in the past few months.
- Back in June this year, CryptoPotato reported when the company partnered with Jack Dorsey’s financial service giant Square to launch a solar-powered BTC mining facility in the US.
- Additionally, the company recently raised $210 million to use the funds for manufacturing mining chips. Thus, its total valuation exceeded $3 billion.