2 years ago
Taking the dedicated mining signifier astatine Bitcoin 2022, Blockstream CEO Adam Back announced that his company, successful concern with Jack Dorsey’s Block, Inc., volition beryllium leveraging Tesla vigor instrumentality for a $12 cardinal bitcoin mining facility.
“The Tesla Solar PV array and Tesla Megapack volition powerfulness Blockstream and Block’s open-source, star and battery-powered Bitcoin mining facility,” according to a descent shared by Back during the presentation. “[The installation is] projected [to produce] 3.8 MW star renewable power, 30 PH/s hashrate.”
A Tesla star PV array would beryllium a bid of Tesla’s photovoltaic star panels, portion the Tesla Megapack is simply a large-scale, rechargeable lithium-ion battery.
Originally announced past year, the solar-powered bitcoin mining installation was described arsenic a proof-of-concept to show that bitcoin mining tin beryllium conducted utilizing renewable energy.
“The installation volition beryllium a proof-of-concept for a 100% renewable vigor Bitcoin excavation astatine scale, with the economics of the physique retired — including operational costs and returns connected concern — made unfastened to the public,” according to a property merchandise from Block, which was called Square astatine the time.
Blockstream is 1 of if not the largest Bitcoin infrastructure companies, offering a Bitcoin mining hosting services, the Liquid Bitcoin sidechain, the c-lightning Lightning Network implementation, a Bitcoin blockchain outer web and more. Block has galore divisions focused connected advancing the Bitcoin ecosystem arsenic well. Both companies volition beryllium contributing $6 cardinal to the project, per Back’s announcement.
With this latest update, Back emphasized that helium sees the task arsenic a mode to beryllium to the satellite that Bitcoin solves vigor crises, alternatively than make them.
“Bitcoin … tin enactment arsenic a baseload … it tin really marque projects much profitable and effect successful a bigger powerfulness infrastructure for the world,” Back said. “Basically, Bitcoin should beryllium the backing exemplary to thrust enlargement of powerfulness infrastructure.”
Bitcoin 2022 is portion of the Bitcoin Event Series hosted by BTC Inc, the genitor institution of Bitcoin Magazine.
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