Blockstream has begun construction of the Bitcoinmining facility solar power in Texas. The company does this together with Block, Inc. and Tesla.
4.11 Bitcoin per month
The partnership was announced last year. Then Block, formerly known as Square, invested $5 million in the project. According to Blockstream, the facility will be completed by the end of 2022.
The solar mining operation will use Tesla equipment to run entirely on renewable energy. The 3.8 megawatt (MW) Tesla solar panel and 12 megawatt hours (MWh) battery will generate 30 petahash per second of mining power. The facility could mine about 4.11 Bitcoin per month at its current price.
The Blockstream facility will be small compared to the operation that RIOT has built Blockchain. This facility was built in a former aluminum plant in Texas. When the RIOT operation is complete, the 100-acre facility will generate 750 MW of power.
A solar-powered mining facility is possible
Blockstream and its partners do not necessarily plan to build the largest North American Bitcoin mining facility. They want to show that it is completely possible with renewable energy. Blockstream Co-Founder and CEO Adam Back Told at the Bitcoin 2022 Conference CNBC†
“This is a step to prove that Bitcoin mining can finance zero-emission energy infrastructure and drive economic growth in the future.”
In addition, Blockstreams plans to maintain a public dashboard. This way people can track the wealth and Bitcoin production themselves. A later version will also report on the availability, energy storage and solar energy generated by the Tesla equipment. Tesla CEO Elon Musk has previously said he wants more Bitcoin mining to rely on renewable energy sources. That may now change.