Mining is a critical process for Bitcoin, as it validates and confirms new transactions and ensures the network’s security. However, the power consumption and environmental impact of mining have been a source of concern.
To ensure the sustainability of the Bitcoin network, Blockstream, Block (formerly Square), and Tesla have set out to mine Bitcoin using solar energy.
The Solar-Powered Bitcoin Mining Has Begun
On April 8, Blockstream announced that it has begun to build a fully solar-powered #BitcoinMining facility with Block and Tesla. The partnership between the three tech giants was first announced in June 2021.
The goal of the project is to achieve zero-emission Bitcoin mining on a large scale. The solar mining facility will be built in Texas and use Tesla’s photovoltaics and Megapack battery equipment.
The 3.8 megawatts (MW) Tesla solar array and 12 megawatt-hours (MWh) battery will generate 30 petahashes per second of mining power. The mining facility will be completed before the end of 2021.
At the Bitcoin 2022 conference, Blockstream co-founder and CEO Adam Back stated that the mining facility is designed to be a proof of concept for scale 100% renewable energy bitcoin mining.
By turning to solar energy, these companies hope to improve the economics of renewables for mining and as miners turn towards a green future.