Block And Blockstream Begin Construction On Bitcoin Mining Facility Using Solar And Storage Technology From TeslaDigital payments company Block and bitcoin infrastructure firm Blockstream have begun construction on a
new open-source bitcoin mining facility, which will be powered by
Tesla’s solar and energy storage products, announced Blockstream’s CEO Adam Back.
“This is a step to proving our thesis that Bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future,” he added. The facility is planned to be completed later this year and will result in a projected
3.8 Megawatts of solar renewable power and a 30 Petahash hash rate.
The $12 million joint initiative was first announced in June 2021 as part of Block's pledge to be
carbon neutral by 2030. The fintech giant will invest $6 million (the other half will be provided by Blockstream) in a facility to be built at one of
Blockstream's U.S. sites in Texas.
