With Tesla being a major supporter for Bitcoin, it’s only fitting that the automaker would team up with other companies to develop a completely renewable Bitcoin mine.
Tesla is teaming up with Jack Dorsey’s Block, formerly known as Square, and the company Blockstream to develop a solar-powered Bitcoin mine in Texas, according to CNBC.
The facility will be powered by Tesla’s 3.8-megawatt solar PV array and a 12 megawatt-hour Megapack.
Blockstream CEO Adam Back says the facility will be a proof of concept for large-scale bitcoin mining with 100 percent renewable energy.
SpaceX Holds Bitcoin; Tesla Could Accept Crypto Again Soon: Musk https://t.co/5CCHC0ftm0
— TeslaNorth.com (@RealTeslaNorth) July 21, 2021
In a statement, Back said, “People like to debate about the different factors to do with bitcoin mining. We figured, let’s just prove it. Have an open dashboard so people can play along, maybe it can inform other players to participate.” Back continued, “This is a step to proving our thesis that bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future.”
In addition, the facility will include a dashboard with performance data and bitcoin mining trackers that will be completely accessible to the public.
The facility will be constructed in West Texas, where both solar rays and wind speeds are consistent and can provide ample energy.
The bitcoin mine is set to be completed later this year, and will be completely off-grid from West Texas’ electrical grid.
