Committing to Clean Energy and Bitcoin Mining

Committing to Clean Energy and Bitcoin Mining

Published

May 26, 2023

Author

Block

Published

May 26, 2023

Author

Block

Clean Energy and Bitcoin Mining

Bitcoin mining can go hand-in-hand with sustainability — so long as we make efforts now to support and build scalable solutions. Block’s clean energy and bitcoin mining initiatives reflect our  commitment to a sustainable, accessible future.

Bitcoin Clean Energy Initiative (BCEI)

Our Bitcoin Clean Energy Initiative (BCEI) includes a $10 million commitment to help accelerate the global energy transition by supporting impactful and scalable solutions for the bitcoin mining ecosystem. BCEI also functions as a resource hub to help key stakeholders better understand and implement renewable energy–based mining.

Gridless

In 2022, BCEI invested in Gridless, a renewable energy– based bitcoin mining company, based in Kenya, which is using bitcoin computational centers to lower the cost of electricity for local communities in East Africa. They deploy small-scale data centers that run on excess clean energy. We’re excited to help support Gridless’ growth and positive impact as they scale their operations.

Solar-Powered Mining Project

Last year, we announced our intention to launch a 100% solar-powered mining facility in West Texas. The project will feature a public-facing dashboard to share the ongoing unit economics and transparency for the project. We believe this transparency will help attract additional investment into clean energy mining. While the project has experienced some delays, we aim for the project and its dashboard to go live in 2023.

We’ve charted our Clean Energy and Bitcoin Mining initiatives in Block’s 2021 and 2022 Corporate Social Responsibility Reports.

Published

May 26, 2023

Author

Block

Clean Energy and Bitcoin Mining

Bitcoin mining can go hand-in-hand with sustainability — so long as we make efforts now to support and build scalable solutions. Block’s clean energy and bitcoin mining initiatives reflect our  commitment to a sustainable, accessible future.

Bitcoin Clean Energy Initiative (BCEI)

Our Bitcoin Clean Energy Initiative (BCEI) includes a $10 million commitment to help accelerate the global energy transition by supporting impactful and scalable solutions for the bitcoin mining ecosystem. BCEI also functions as a resource hub to help key stakeholders better understand and implement renewable energy–based mining.

Gridless

In 2022, BCEI invested in Gridless, a renewable energy– based bitcoin mining company, based in Kenya, which is using bitcoin computational centers to lower the cost of electricity for local communities in East Africa. They deploy small-scale data centers that run on excess clean energy. We’re excited to help support Gridless’ growth and positive impact as they scale their operations.

Solar-Powered Mining Project

Last year, we announced our intention to launch a 100% solar-powered mining facility in West Texas. The project will feature a public-facing dashboard to share the ongoing unit economics and transparency for the project. We believe this transparency will help attract additional investment into clean energy mining. While the project has experienced some delays, we aim for the project and its dashboard to go live in 2023.

We’ve charted our Clean Energy and Bitcoin Mining initiatives in Block’s 2021 and 2022 Corporate Social Responsibility Reports.