Square Puts $10M Toward BTC Clean Energy

Plus more discussion on Saylor's big bet

Happy Tuesday, Blockfolians

The Lede

In its more than 10 years, bitcoin has defeated many different categories of FUD. One common strain continues to be questions of environmental impact. With the Climate Change action conversation increasing around the world, this feels likely to increase.

This makes Square’s new Bitcoin Clean Energy Investment all the more pertinent.

In short, as part of their 2030 zero carbon goals, Square is going to invest in companies working on green energy tech in the bitcoin mining context. Any profits will be recycled into the fund and they’re looking into allowing others to co-invest alongside them.

“We believe that cryptocurrency will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally,” said Square Co-Founder and CEO, Jack Dorsey. “Published estimates indicate bitcoin already consumes a significant amount of clean energy, and we hope that Square’s investment initiative will accelerate this conversion to renewable energy.”

These guys just stay on the cutting edge.

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Highly Relevant Reading


Community Commentary

Not all the Saylor news is good news
Truly an epic piece of historical journalism

A Really Big Number We Should Be Paying Attention To

$429,000,000

That’s the inflow of new money to crypto funds last week, a surging number


Final Thought

Let’s hope Jeremy’s right about Biden being good for crypto.