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Tesla, Block and Blockstream Team up to Mine Bitcoin off Solar Power in Texas

Tesla, Block and Blockstream Team up to Mine Bitcoin off Solar Power in Texas

 

Tesla Inc, Block Inc, and Blockstream Corp, a blockchain company, will work in Texas to mine bitcoin using solar power, Blockstream CEO Adam Back announced on Friday.

Tesla is providing the solar power infrastructure as well as its Megapack batteries, according to Back. Blockstream and Block, formerly known as Square, announced in June that they were working together to develop an open-source, solar-powered bitcoin mining facility in the United States.

Bitcoin is created when powerful computers compete against each other to solve complicated mathematical riddles, a time-consuming process that currently relies heavily on fossil fuels.

Tesla stopped taking bitcoin for car purchases in May of last year due to environmental concerns related to bitcoin mining.

 

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