Solar-powered bitcoin? Tesla, Block, and Blockstream join forces to mine crypto in Texas

Blockstream has announced that it has partnered with Jack Dorsey’s Block (formerly Square) and Elon Musk’s Tesla to build an open-source, solar-powered Bitcoin mining facility in Texas.

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“We are excited to share our collaborative effort with @Blocks to build a fully solar-powered #BitcoinMining facility has begun. @Tesla photovoltaics & Megapack will power the 30 PH/s facility, aiming to show the world that 100% zero-emissions large-scale #Bitcoin mining is viable,” Blockstream tweeted on April 8.

Blockstream said construction has begun and together, “we plan to provide public transparency by sharing the economics of the project and the insights we’ve gained from building an energy-powered bitcoin mine.” renewable”.

The company added, “Ultimately, we hope to demonstrate how bitcoin mining in conjunction with renewables can help drive the clean energy transition.”

We are delighted to share our collaborative effort with @You’re here photovoltaic and Megapack will power the 30 PH/s installation, aiming to show the world 100% zero emissions #Bitcoins large-scale mining is viable. ????

—Blockstream (@Blockstream) April 8, 2022

Blockstream is providing the mining infrastructure and expertise to build and oversee the project, with the goal of the Bitcoin mining facility being completed later this year, it said in an announcement. In June, Block (then Square) had already announced that it would invest $5 million in Blockstream, as GOBankingRates previously reported.

The company said it will provide regular reports on the economics of the project, and a publicly available dashboard will display accurate real-time metrics of the facility’s performance, such as power output and bitcoin mined. for analysts and enthusiasts to monitor. “A later version of the dashboard will also include solar data points, storage performance, and availability metrics,” he added.

The dashboard aims to be available 24/7 from any browser, providing the industry with a real-time, real-time case study of a zero-energy bitcoin mine. episode.

“Through our Blockstream Mining partnerships, we are making tremendous strides to show that Bitcoin mining can fund zero-emission power infrastructure,” the company added.

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Blockstream said a key goal is to strengthen the bitcoin network by diversifying sources of cryptocurrency power, according to CNBC.

“By collaborating on this full-stack, 100% solar-powered bitcoin mining project with Blockstream, using Tesla’s solar and storage technology, we aim to further accelerate bitcoin’s synergy with renewable energy,” Neil Jorgensen, Global ESG Lead at Block and Project Lead for Block’s Bitcoin Clean Energy Initiative.

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This article originally appeared on Solar Powered Bitcoin? Tesla, Block, and Blockstream join forces to mine crypto in Texas

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