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Blockstream and Block Enlist Tesla, Breaking Ground for Bitcoin Mine
Tesla will equip Texas-based mine with solar and storage technology Blockstream will release public dashboard with Bitcoin mining and power output data Jack Dorsey's digital payments company Block, formerly Square, and Bitcoin infrastructure provider Blockstream have announced an evolution of the partnership they first announced in June 2021. After enlisting the help of Tesla, they laid the groundwork for a solar- and battery-powered Bitcoin mine. West Texas-based Bitcoin mine will use solar and storage technology from Tesla, Blockstream announced Friday. The facility is powered by Tesla's 3.8 megawatt solar PV system and 12 megawatt hour Megapack. West Texas, known...
Blockstream and Block Enlist Tesla, Breaking Ground for Bitcoin Mine
- Tesla wird die in Texas ansässige Mine mit Solar- und Speichertechnologie ausstatten
- Blockstream wird ein öffentliches Dashboard mit Daten zu Bitcoin-Mining und Leistungsabgabe veröffentlichen
Jack Dorsey's digital payments company Block, formerly Square, and Bitcoin infrastructure provider Blockstream have announced an evolution of the partnership they first announced in June 2021. After enlisting the help of Tesla, they laid the groundwork for a solar- and battery-powered Bitcoin mine.
The West Texas-based Bitcoin mine will use solar and storage technology from Tesla, Blockstream announced Friday. The facility is powered by Tesla's 3.8 megawatt solar PV system and 12 megawatt hours Mega pack.
West Texas, known for its high number of annual sunny days and sufficient wind speed, has become a hub for renewable energy in the USA.
The mine is expected to be completed this year, according to Blockstream, which will provide the mining infrastructure for the facility.
The combination of Tesla photovoltaics and Megapack battery equipment will power the 30 petahashes per second of mining hardware at the facility with 100% solar energy, Blockstream wrote in a blog post on Friday.
Additionally, Blockstream said it will provide regular reports on the project's economics through a publicly available dashboard. The dashboard displays real-time metrics of the facility's performance, including power output and Bitcoin mined. According to Blockstream, the team plans for the dashboard to eventually include solar, storage performance data points and uptime metrics.
The project, first unveiled at the Bitcoin 2021 conference in Miami in June, is a $12 million initiative. Block said in June that it would invest $5 million in the mining facility as part of its broader goal of achieving carbon neutrality by 2030.”
The project will serve as an ongoing, transparent case study that allows us all to collectively learn the specific unit economics of clean energy Bitcoin mining,” said Neil Jorgensen, global head of ESG at Block, in June 2021 release. “We can’t wait to share our results with the community.”
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The post Blockstream and Block Enlist Tesla, Break Ground on Bitcoin Mine is not financial advice.