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Benzinga
Benzinga
Business
Anusuya Lahiri

Blockstream and Block Begin Construction On Tesla Powered Bitcoin Mining Facility

Block Blockstream Tesla Inc. SQ Adam Back
  • Blockstream and Block Inc (NYSE:SQ) broke ground on a solar- and battery-powered Bitcoin mine in Texas that uses solar and storage technology from Tesla Inc (NASDAQ:TSLA).
  • Tesla’s 3.8 MW solar PV array and 12 MWh Megapack will power the facility.
  • Blockstream co-founder and CEO Adam Back acknowledged the facility as a proof of concept for 100% renewable energy bitcoin mining at scale.
  • The open dashboard will exhibit real-time metrics of the project’s performance. 
  • A later dashboard version will also include solar and storage performance data points.
  • Block looks further to accelerate bitcoin’s synergy with renewables via the initiative.
  • Price Action: SQ shares traded higher by 0.11% at $126.07 on the last check Friday.
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