Blockstream to expand green Bitcoin mining with Macquarie

Blockstream, an infrastructure company, has agreed to collaborate with Australian investment bank Macquarie. The partners will launch a US pilot project for carbon-neutral Bitcoin mining.

We are very excited to announce a partnership with financial services giant @Macquarie to develop and manage best-in-class, zero-emission #Bitcoin mining facilities. ⛏️ https://t.co/G55FJXZ6kY pic.twitter.com/EogkmMkb2p

— Blockstream (@Blockstream) September 8, 2021

As part of the collaboration, Macquarie will use the mining infrastructure and Blockstream’s expertise in hosting equipment for cryptocurrency mining.

The joint venture will test carbon-neutral alternatives in this area. If successful, the partners will launch new sites as the green energy infrastructure develops further.

The partnership with Macquarie will be the next step for Blockstream after reaching similar agreements with Aker and Square.

The Macquarie Group is one of the largest institutional investors in renewable energy infrastructure. As of 31 March 2021, 44 GW of capacity was under development or construction.

Earlier, experts from Square and ARK Invest presented a solar-powered mining model that facilitates the transition of power grids to renewable energy sources.

In August, Blockstream raised $210 million in a Series B round. Some of the funds will be directed toward promoting and developing Bitcoin mining-focused products and services, such as Blockstream Energy.

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