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Bitcoin company Blockstream and digital payments company Block (formerly known as Square) will use Tesla’s Megapack technology for a new solar and battery-powered mining rig.
The $12 million pilot will be based in Texas and is expected to be completed in the next few months, Blockstream CEO Adam Back announced Friday morning at the Bitcoin 2022 conference in Miami. The two companies have each provided $6 million to fund the Texas pilot.
The off-grid mining center will feature 3.8 megawatts of renewable solar power, 12 megawatt-hours of battery storage, and 30 petahashes (PH/s) mining hashrate per second. The batteries are used to power the mines at night and at times of changing sunlight throughout the day.
The project will also feature an open dashboard that will provide real-time financial metrics and information on mining capacity and how many bitcoins are being mined, according to the announcement.
Back said this project would show how Bitcoin can help fund the expansion of solar-powered infrastructure, particularly in areas rich in renewable energy like Texas.
“We thought we would actually make it a reality and release information in a more transparent way than is normally done for reasons of commercial competitiveness so that we can have a more informed discussion,” he said. “When we release the raw data, the raw financial information, it speaks for itself.”
Square and Blockstream announced a partnership last year as part of their carbon neutrality commitment.
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