The new Bitcoin Clean Energy Investment Initiative will aim to make mining more eco-friendly.
On Tuesday, payments giant Square announced a major push to go carbon neutral by 2030.
As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims “to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem.”
Square is the firm behind CashApp, which is a major force in bringing crypto to regular users. In today’s announcement, Square identified Bitcoin as “a unique part of Square’s footprint.” Jack Dorsey, CEO of both Square and Twitter, said:
“We believe that cryptocurrency will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally.”
Among other recent initiatives, Square is also assembling a patent group for crypto, which Coinbase joined just days ago.