Blockstream, Block To Leverage Tesla Equipment For Renewable Bitcoin Mining O...
Adam Back of Blockstream announced that his bitcoin mining facility will leverage Tesla equipment and produce a 30 PH/s hash rate.Taking the dedicated mining stage at Bitcoin 2022, Blockstream CEO Adam Back announced that his company, in partnership with Jack Dorsey’s Block, Inc., will be leveraging Tesla energy equipment for a $12 million bitcoin mining facility.“The Tesla Solar PV array and Tesla Megapack will power Blockstream and Block’s open-source, solar and battery-powered Bitcoin mining facility,” according to a slide shared by Back during the presentation. “[The facility is]....
Related News
Per a press release, Blockstream and Block will build a Bitcoin mining facility powered 100% by renewable energy. The BTC mining operation will use Tesla Solar panels that will provide 3.8 Megawatt (MW) and the Tesla Megapack batteries that will provide 12 Megawatt/hours (MWh) of power. Related Reading | Anti-Bitcoin ‘Shark Tank’ Investor Kevin O’Leary […]
The site will use a combination of solar panels and battery storage from excess daylight to power Bitcoin mining. 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'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....
Blockstream has announced a partnership with the newly-launched Seetee to accelerate renewable energy use for bitcoin mining.
Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. Blockstream and Square have announced a partnership to build one in the U.S. based on renewable energy. The Bitcoin infrastructure startup, led by Adam Back, and the financial services company, led by Jack Dorsey, will create an […]
Bitcoin mining energy consumption has been one of the most addressed issues in the crypto space. Concerns over its energy consumption and environmental impact had been reasons cited during the China crackdown that saw miners exit out of the region en masse. The once bitcoin mining capital of the world had seen its hashrate crumble to zero following this move. Automotive manufacturer Tesla had also cited the same reasons when it had removed BTC payments option for its electric vehicles after implementing barely two months earlier. According to CEO Elon Musk, the EV manufacturer planned on....