A $2 million initial fundraising round has been secured by East African Bitcoin miner Gridless, a Kenyan company that is backed by Jack Dorsey. In isolated African villages, Gridless deploys renewable energy infrastructure on a small scale. It has funded the construction and administration of data centres in remote locations that are difficult for industrial or commercial clients to reach.
There is a significant trend among cryptocurrency miners to switch from fossil fuels to renewable energy sources, although a lot of still use fossil fuels to run their rigs.
In a statement, Gridless explained that this investment will enable the company to continue expanding its bitcoin mining operations across African markets as the company continues to expand.
Bitcoin has been referred to by Dorsey as “the open standard for global money transmission” and he stated that the apex cryptocurrency will allow Block’s entire business to move globally faster because of its apex status.
The Block platform allows customers to purchase Bitcoin through its CashApp and is taking it upon itself to expand across a variety of dimensions beyond just payments.
