Tesla, Block and Blockstream to mine bitcoin off solar power in Texas

Tesla, Block and Blockstream to mine bitcoin off solar power in Texas

By

Electric car maker Tesla Inc, payments firm Block Inc (SQ.N) and blockchain firm Blockstream Corp will collaborate to mine bitcoin using solar energy in Texas, Blockstream Chief Executive Adam Back said on Friday.

Baker added that Tesla is building solar infrastructure and supplying its Megapack batteries.

Blockstream and Block, formerly known as Square, said in June that they were collaborating to build an open-source and solar-powered bitcoin mining facility in the United States.

Bitcoin was born when high-performance computers competed with other machines to solve complex mathematical puzzles, an energy-intensive process that currently typically relies on fossil fuels.

Last May, environmental concerns related to bitcoin mining prompted Tesla to stop accepting bitcoin for cars.

Tesla and Bullock did not immediately respond to requests for comment.

You may also like