Published: 10.04.2022
Article reading time:
2 minutes.
Blockstream and Block are building a solar-powered, battery-powered mining farm based on Tesla’s energy storage technology.
Blockstream co-founder and CEO Adam Back spoke in an interview with CNBC about a mining farm pilot project powered entirely by renewable energy. Blockstream has partnered with Jack Dorsey’s Block to build a solar-powered, battery-powered, energy-saving facility in Texas.
Tesla storage technologies are planned to be used to convert sunlight into electrical energy. Namely, solar photovoltaic batteries TSLA with a capacity of 3.8 MWh and Megapack with a capacity of 12 MWh.
The launch of the mining farm into commercial operation should be, according to the project participants, a proof of concept on the possibility of using 100% clean renewable energy for bitcoin mining. Participants are sure that another key principle will be confirmed – that miners do not depend on geographic location and can “work from anywhere without creating a local infrastructure”.
“This is a step towards confirming our thesis that bitcoin mining can use a zero-emission energy infrastructure,” Back said.
The $12M development cost will be split equally between Blockstream and Block, with the facility expected to be completed by the end of 2022.
If the mining farm proves profitable already at the experimental stage, then the companies will scale the project and add wind power, which the participants hope will reduce costs and help balance downtime in the event that solar power cannot be used.
Recall that in March 2022, the European Union planned, but then refused to introduce a ban on bitcoin mining and the extraction of other cryptocurrencies using the PoW model. The relevant section was excluded from the draft Law on Crypto Asset Markets (MiCA) by the EU ECON decision.
Source: Bits
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