Through a strategic partnership, renowned blockchain infrastructure provider firm Blockstream and finance giant Macquarie will pilot a new Bitcoin mining center and discover high-potential, carbon-neutral energy solutions for mining cryptocurrencies and tokens.
Heading towards an eco-friendly ecosystem, the two collaborating teams will put in their best efforts to expand the Bitcoin mining cluster using energy sources that cause less harm to our environment. The cryptocurrency mining industry has always been criticized as it involves a high energy supply, causing the release of excess amounts of harmful emissions. As part of the well-structured deal, Macquarie’s expertise in energy-related solutions will help Blockstream provide sustainable Bitcoin mining facilities to users.
The partnership will help the Blockstream community fuel its aim of expanding renewable mining cluster across new verticals. The firms will use dedicated investments in the eco-friendly energy sector to further their core objective of leveraging renewable mining on a large scale. The Macquarie team will offer its expert inputs concerning finance, management, and risk solutions to Bitcoin mining projects.
Talking about the deal, Blockstream CEO Dr. Adam Back stated that the integration of Macquarie and Blockstream has a lot of potential. Macquarie is a dominant brand in the energy market space, whereas Blockstream leads the Bitcoin mining sector. The teams are likely to revolutionize the mining industry and blockchain domain with their expert knowledge and tools.
This is not for the first time that Blockstream is resorting to environment-friendly mining tools and practices. The firm has been an innovator in this field and has initiated various projects in developing the mining sector. The company has a strong presence in the crypto mining industry with hosting centers in Canada, Quebec, and Georgia.
In August, Blockstream launched its highly-anticipated project called Blockstream Energy, which aids renewable energy-producing entities in boosting their production capacity and trade surplus energy. The team collaborated with the mining hardware producer Spondoolies to launch new ASICs manufacturing unit. The pact with top-tier finance firm Square helped Blockstream to create a 100% renewable energy Bitcoin mining facility. The project will see an investment of $5 Million from Square and supply of mining infrastructure by Blockstream hub.
