Blockstream and Block to Use Tesla Equipment for Renewable Bitcoin Mining

Blockstream CEO Adam Back revealed that his company will be partnering with Jack Dorsey's Block, Inc. for a $12 million Bitcoin 2022 bitcoin mining operation using Tesla energy equipment.

According to slides Back showed during the presentation, "The Tesla Solar PV Array and Tesla Megapack will power Blockstream and Block's open source, solar and battery-powered bitcoin mining operations." "[The installation] is expected to generate 3.8 MW of solar renewable energy with a hash rate of 30 PH/s."

The Tesla Solar PV Array is a collection of Tesla PV solar panels, while the Tesla Megapack is a large rechargeable lithium-ion battery.

The solar bitcoin mining facility was first announced last year as a proof of concept, showing that bitcoin mining could be done using renewable energy sources.