Blockstream and Block Use Tesla’s Technology To Create a Green Bitcoin Mining Facility
Some of the largest and most innovative companies in the world are gathering strength in order to create a green Bitcoin (BTC) mining facility. We are talking about Block (formerly known as Square), and Blockstream. In an official press release, Blockstream informed that they will be working with Block using Tesla Solar PV and Megapack to power green Bitcoin mining activities.
Green Bitcoin Mining Activities Thanks to Blockstream, Block and Tesla
In a recent press release, Blockstream announced that they are collaborating with Block in order to create a fully solar-powered, open-source Bitcoin mining facility. They will be using a 3.8 Megawatt (MW) Tesla Solar PV array and also a 12 Megawatt-hour (MWh) Megapack. Now, the construction has begun and they are ready to demonstrate this innovation and solutions with a new facility.
As Blockstream explains, thanks to Tesla’s photovoltaics and megapack battery equipment, it will be possible to drive the 30 Petahashes per second of mining hardware. Everything will be powered 100% with solar energy. Thanks to Blockstream’s expertise, they will be able to oversee the project and make sure that they follow the highest standards.
Bitcoin has been many times attacked due to the large energy consumption that it uses and how this is having a negative impact around the world. However, few companies and people realize that Bitcoin is pushing for new and innovative solutions to create clean and reliable energy sources to mine digital currencies.
They have also mentioned how important this project is to show that Bitcoin mining can fund zero-emission power infrastructure.
“We’re already working with Aker and Block, Inc. to pursue alternative and renewable energy Bitcoin mining. We also launched Blockstream Energy to go where no mine has gone before, maximizing ROI for energy producers and enabling renewable energy generation facilities to be located in optimal locations.”
We see more and more companies entering the Bitcoin mining market trying to offer more innovative and reliable solutions to make Bitcoin mining activities greener. It is worth taking into consideration that Bitcoin mining has been expanding all around the world over the last few years.
Indeed, according to data shared by Blockchain.com, Bitcoin’s hash rate is close to its all-time highs. This shows that there is a continuous inflow of new miners to the market that want to be part of the network. Miners do not only protect the network from attackers but they also get rewarded with 6.25 BTC + fees every single time they find a block.