Mining is a critical process for , as it validates and confirms new transactions and ensures the network’s security. The power consumption and the impact on the environment from mining are a concern.

Blockstream (formerly Square) and Tesla (NASDAQ;) set out to extract Bitcoin from the sun in order to ensure sustainability.

Solar-Powered Bitcoin Mining has Begun

Blockstream, in partnership with Tesla and Blockstream, announced on April 8 that they have begun building a #BitcoinMining plant. This partnership among the tech titans was initially announced back in June 2021.

It aims to create zero emission Bitcoin mining facilities on a large scale. The solar mining facility will be built in Texas and use Tesla’s photovoltaics and Megapack battery equipment.

A 3.8 Megawatt (MW) Tesla Solar array and 12 Megawatt-hours (12MWh) lithium battery combine to produce 30 petahashes of mining power per second. Construction of the mining facility is expected to be finished before 2021.

Blockstream CEO Adam Back, co-founder of Blockstream, stated at the Bitcoin 2022 conference that the mining facility was a proof point for 100% renewable energy bitcoin mining.

Flipside

• In May 2021, Tesla stopped accepting Bitcoin as payment for its merc because of the “rapid increasing use of fossil fuels for Bitcoin mining and transactions.”

Why you should care

These companies are turning to solar energy to increase the profitability of mining renewables and help miners move towards a more sustainable future.

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