Elon Musk to power a bitcoin mining facility with Tesla.
Elon Musk-helmed Tesla has agreed to power a solar-powered Bitcoin mining facility in Texas in partnership with Block (formerly Square) and Blockstream, CNBC reports.
Blockstream CEO Adam back told the outlet that the $12 million projects are supposed to show that Bitcoin mining has the capacity of funding Zero-emission power Infrastructure.
His self-owned company also believes that the facility will be able to bolster the network by integrating new energy sources into the mix.
Related: GK8 Cold Vault Cryptocurrency Storage And MPC Solution For Custody, DeFi, Staking, NFT.
The mining operation will be powered by Teslas' 3.8 megawatts (MW) solar photovoltaic energy facility and the company's rechargeable battery storage system called Megapack, which is capable of stor...