Block and Blockstream, a Bitcoin infrastructure company, are collaborating with Tesla on an open-source solar-powered Bitcoin mine, the companies announced Friday. Tesla’s 3.8 megawatt solar PV array and its 12 megawatt-hour Megapack will power the facility and construction on the project has begun.
“We are excited to begin construction on this facility using Tesla Solar and Megapack,” said Adam Back, CEO and co-founder of Blockstream, in a press release. “This is a step to prove our thesis that Bitcoin mining can fund zero-emission energy infrastructure and build economic growth for the future.”
The goal is for the facility to be completed “later this year”. When active, there will be a publicly available dashboard with “real-time statistics of the project’s performance, including wealth and Bitcoin mined”. The plan is for the dashboard to “be available 24/7 from any browser, giving the industry a real-world, real-time case study of a zero-emissions Bitcoin mine.”
“People like to debate the various factors involved in Bitcoin mining,” Back said in an interview with CNBC. “We thought, let’s prove it. Provide an open dashboard for people to join in, maybe it can inform other players to join.”
Blockstream and Block (formerly Square) first announced in June that they planned to build the facility.