Bitcoin

Tesla, Block, and Blockstream Team up to Mine Bitcoin

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Blockstream announced on April 8th, 2022 that they are teaming up with Tesla and Block Inc. to retrofit a Bitcoin mining facility with a 3.8 Megawatt (MW) Tesla Solar PV array and a 12 Megawatt-hour (MWh) Megapack. It is confirmed that construction for the mining facility has begun and is scheduled to be completed by the end of 2022.

With Tesla’s solar panels and Megapack battery equipment, the 30 Petahashes (this is the equivalent of running up to 300 Bitmain Antminer S19 Pros) will be powered by 100% solar energy. Blockstream will be responsible for providing the mining infrastructure, building the facilities, and overseeing all logistics involved with the project.

Blockstream will also provide daily reports on how economically feasible the project is. A publicly available dashboard will also be available for everyone to view. The website will provide real time data and metrics on how much power is being used as well as how much Bitcoin is mined. The dashboard will be available 24/7 from any web browser in order to show that Bitcoin mining can be zero-emission on a day-to-day basis.

Blockstream is already working with Acker and Block Inc. in order to demonstrate to other institutions that Bitcoin mining is possible with renewable energy. Additionally, Blockstream is launching Blockstream Energy where scalable solutions can be provided for Bitcoin mining projects. The company aims to increase the efficiency of Bitcoin mining as well as make renewable energy projects more profitable around the world.

By installing Modular Mining Units (MMUs) on site, Blockstream Energy will allow energy producers to deliver power to the Bitcoin network and the power grid. All power may be automatically allocated to where it is needed most based on seasons or demand within the area it operates in. This process will increase a return on investment for renewable energy and eventually attract more capital for infrastructure as well as research and development. 

Blockstream continues to provide holistic solutions for every industry involved in the Bitcoin network.

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Deniz Saat is an IT services specialist, technical writer and editor for BTC Times. His mission is to onboard as many people as possible into the Bitcoin overlay through education and content creation.

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