Blockstream and Block Inc to build solar Bitcoin mining facility powered by Tesla technology
2022.04.08 20:52
Blockstream and Block Inc to build solar Bitcoin mining facility powered by Tesla technology
On Friday, cryptocurrency storage company Blockstream and Block Inc. (formerly Square) announced the construction of a solar-powered Bitcoin (BTC) mining facility in Texas. As told by Blockstream, the mining site will be outfitted with 3.8 megawatts (MW) of electrical capacity using Tesla (NASDAQ:TSLA)’s Solar photovoltaic cell array and a 12 MWh Megapack.
Manufactured by Tesla Energy, Megapack is a powerful lithium-ion battery that provides energy storage and support. In context, one of the leading publicly-listed Bitcoin mining companies, Hut 8 Mining, has about 209 MW in total contracted mining capacity. The purpose of the venture is to investigate the feasibility of operating a zero-emission energy Bitcoin mine. Blockstream and Block began collaborating on the project last June, with Block promising to invest $5 million for its construction.
