Bitcoin company Blockstream and digital payments company Block (formerly known as Square) will use Tesla Megapack technology for a new mining facility powered by solar panels and batteries.
The $12 million pilot project will be located in Texas and should be completed in the next few months. This was announced by Blockstream CEO Adam Beck at the Bitcoin 2022 conference in Miami. The two companies have each invested $6 million.
The project will also include an open dashboard that will display financial metrics and information about mining power. In addition, the device will display the number of bitcoins mined in real time.
Beck said this project will demonstrate how bitcoin can help fund the expansion of solar infrastructure, especially in areas rich in renewable energy sources.