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$411 Billion Financial Services Firm Partners With Blockstream To Get Into Green Bitcoin Mining | Cryptoglobe


www.cryptoglobe.com 09 September 2021 10:45, UTC
Reading time: ~2 m

On Wednesday, Blockstream, a firm focused on building “crypto-financial infrastructure based on Bitcoin” announced a partnership with financial services group Macquarie to “develop and manage best-in-class, zero-emission Bitcoin mining facilities.”

Blockstream offers three types of Bitcoin mining services:

  • Colocation: You use one of their mining facilities in North America, where you can get access to ASICs, energy, reporting, and maintenance.
  • Energy: You lease some of their Modular Mining Units (MMU) and they sign a power purchase agreement for all electricity consumed by the MMUs; they fdeploy these MMUs at your power generation facility; and you “supply power to the MMUs, the grid, or a mix of both, adjusting as necessary to ensure all energy capacity is consistently utilized.”
  • Investment: The Blockstream Mining Note (BMN), which is “a registered security token issued through a Luxembourg securitization fund”, provides non-US qualified investors with access to Bitcoin hashrate at Blockstream’s mining facilities. 1.00 BMN token “entitles the holder to BTC mined by up to 2,000 TH/s of hashrate.”

According to Blockstream’s blog post, this partnership with the Australian multinational “builds on previously announced collaborations with Aker and Square to build out alternative and renewable-powered Bitcoin mining projects.”

They also mentioned that they will provide Macquarie with mining hardware hosting to start with, and potentially this will “scale in stages as green power infrastructure is deployed.”

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “pattymalajak” via Pixabay


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