{"id":10189,"date":"2022-04-08T15:09:49","date_gmt":"2022-04-08T15:09:49","guid":{"rendered":"http:\/\/ci029e3053300026f4"},"modified":"2022-04-08T15:09:49","modified_gmt":"2022-04-08T15:09:49","slug":"blockstream-using-tesla-array-for-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/blockstream-using-tesla-array-for-bitcoin-mining","title":{"rendered":"Blockstream, Block To Leverage Tesla Equipment For Renewable Bitcoin Mining Operation"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Taking the dedicated mining stage at Bitcoin 2022, Blockstream CEO Adam Back announced that his company, in partnership with Jack Dorsey\u2019s Block, Inc., will be leveraging Tesla energy equipment for a $12 million bitcoin mining facility.<\/p>\n<p>\u201cThe Tesla Solar PV array and Tesla Megapack will power Blockstream and Block\u2019s open-source, solar and battery-powered Bitcoin mining facility,\u201d according to a slide shared by Back during the presentation. \u201c[The facility is] projected [to produce] 3.8 MW solar renewable power, 30 PH\/s hashrate.\u201d<\/p>\n<p>A Tesla solar PV array would be a series of Tesla\u2019s photovoltaic solar panels, while the Tesla Megapack is a <a href=\"https:\/\/www.tesla.com\/megapack\" target=\"_blank\" rel=\"noopener\">large-scale, rechargeable lithium-ion battery<\/a>. <\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/business\/blockstream-square-solar-powered-mining\">Originally announced last year<\/a>, the solar-powered bitcoin mining facility was described as a proof-of-concept to demonstrate that bitcoin mining can be conducted using renewable energy.<\/p>\n<p>\u201cThe facility will be a proof-of-concept for a 100% renewable energy Bitcoin mine at scale, with the economics of the build out \u2014 including operational costs and returns on investment \u2014 made open to the public,\u201d according to a press release from Block, which was called Square at the time.<\/p>\n<p>Blockstream is one of if not the largest Bitcoin infrastructure companies, offering a Bitcoin mining hosting services, the <a href=\"https:\/\/bitcoinmagazine.com\/technical\/blockstream-releases-first-enterprise-grade-product-liquid\">Liquid Bitcoin sidechain<\/a>, the c-lightning Lightning Network implementation, a <a href=\"https:\/\/bitcoinmagazine.com\/guides\/how-to-run-a-bitcoin-node-from-satellite\">Bitcoin blockchain satellite network and more<\/a>. Block <a href=\"https:\/\/bitcoinmagazine.com\/business\/how-block-is-paving-the-bitcoin-way\">has numerous divisions<\/a> focused on advancing the Bitcoin ecosystem as well. Both companies will be contributing $6 million to the project, per Back\u2019s announcement.<\/p>\n<p>With this latest update, Back emphasized that he sees the project as a way to prove to the world that Bitcoin solves energy crises, rather than create them.<\/p>\n<p>\u201cBitcoin \u2026 can act as a baseload \u2026 it can actually make projects more profitable and result in a bigger power infrastructure for the world,\u201d Back said. \u201cBasically, Bitcoin should be the funding model to drive expansion of power infrastructure.\u201d<\/p>\n<p><em>Bitcoin 2022 is part of the Bitcoin Event Series hosted by BTC Inc, the parent company of <\/em>Bitcoin Magazine<em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adam Back of Blockstream announced that his bitcoin mining facility will leverage Tesla equipment and produce a 30 PH\/s hash rate.<\/p>\n","protected":false},"author":2705,"featured_media":3898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[118,2016,287,93],"class_list":["post-10189","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-adam-back","tag-bitcoin-2022","tag-blockstream","tag-news"],"author_data":{"id":2705,"name":"Peter Chawaga","nicename":"peter-chawaga","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/peterc-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/blockstream-releases-first-enterprise-grade-product-on-liquid.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/10189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2705"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=10189"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/10189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/3898"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=10189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=10189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=10189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}