Block and Blockstream have unveiled their ambitions to establish a Bitcoin mining plant powered by solar energy.
Square, Cash App, and Tidal, as well as the cryptocurrency-focused Spiral and TBD, are all owned by Block. Meanwhile, Blockstream's objective is to create "crypto-financial infrastructure based on Bitcoin." It will be in charge of the new mining facility's construction.
Blockstream claims that the open-source, solar-powered Bitcoin mining facility at a Blockstream Mining location in the United States would be powered by a "3.8 Megawatt (MW) Tesla Solar PV array and 12 Megawatt-hours (MWh) Tesla Megapack," which it expects to be completed this year.
The Bitcoin mining facility would include "a publicly available dashboard giving real-time measurements of the project's success," according to the business. To begin, the dashboard will show how much bitcoin the facility has mined and how much electricity it has produced.
The facility, according to Block and Blockstream, will "strengthen the Bitcoin network by diversifying Bitcoin's energy sources," "promote new technologies in powering zero-emission Bitcoin mining," and "demonstrate that Bitcoin mining can support zero-emission power infrastructure."