Blockstream and Block to Launch Solar Powered Mining Center

Published: 09.04.2022

Article reading time:
2 minutes.

Blockstream and payments firm Block, formerly known as Square, have announced a collaboration to build a mining center using solar power and Tesla batteries.

Blockstream co-founder and CEO Adam Back spoke about plans to build a mining center in an interview with CNBC. The pilot project will cost about $12 million and should be completed within a few months, he said. Each company will invest $6 million.

As part of the construction of the mining center, it is planned to create a solar power plant with a capacity of 3.8 MW and install Tesla Megapack batteries with a total capacity of 12 MWh. This will provide energy to the equipment at night and with a decrease in the generation of electricity by the solar power plant. The total hashrate of the equipment in the data center will be 30 Ph/s.

The companies are going to launch a special information panel that will display financial indicators, hashrate data and the number of mined bitcoins in real time. According to Back, the project should demonstrate how bitcoin mining can help in the creation and development of infrastructure for solar power plants.

“We realized that we can really bring this project to life and make it transparent. Normally, financial information is published to attract investors and for competitive reasons, but we are going to release the data for everyone to see. It will speak for itself,” says Blockstream CEO.

Recall that the payment company Block in the middle of last year entered into a partnership agreement with Blockstream for mining BTC on solar energy.