Jack Dorsey’s Block Invests in Renewable Bitcoin Miner Gridless in Africa
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Jack Dorsey’s Block Inc. is among the companies contributing to a funding round for a Bitcoin miner in Africa fired by renewable power.
Jack Dorsey's Block Inc. is among the companies contributing to a funding round for a Bitcoin miner in Africa fired by renewable power. Digital payments firm Block and venture capital investor Stillmark have led a $2 million seed investment in Gridless, a miner that harnesses small-scale renewable energy grids in rural Africa, Block said in a Dec. 6 statement. Bitcoin mining is an energy-intensive process in which electricity-guzzling computers secure the digital-asset's blockchain by validating transaction data and unlocking tokens as a reward in return. Some studies estimate that the annual energy consumption involved exceeds the amount ...