Blockstream and Block will build a Bitcoin mine using Tesla technology

Blockstream, a cryptocurrency storage business, and Block Inc. (previously Square) announced the development of a solar-powered bitcoin mine in Texas on Friday. It will have an electricity capacity of 3.8 megawatts (MW), which will be generated by a set of Tesla – Solar and Megapack solar cells. They have a capacity of 12 MWh.

Tesla Energy’s Megapack is a powerful lithium-ion battery that allows you to store energy. Hut 8 Mining, for example, is one of the top publicly traded bitcoin mining companies, with over 209 MW of total contractual mining capacity.

The project aims to investigate the viability of operating a BTC mine with zero energy emissions. Blockstream and Block started working on the project jointly in June of last year, with Block agreeing to invest $5 million in its construction.

In addition to the physical construction, the Blockstream and Block teams will create a publicly accessible dashboard that will provide information about the project’s profitability. Power production, number of bitcoins mined, storage performance, overall uptime, expenditures, return on investment, and so on will be key metrics. It will be accessible from any browser 24 hours a day, seven days a week.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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