Blockstream and Block are building a crypto mining facility in Texas that will power it with Tesla solar installations. The announcement was made by Blockstream CEO Adam Back at the 2022 Bitcoin conference.
Back emphasized that the pilot aimed to show that Bitcoin mining can finance renewable energy and innovation.
The $12 million cost of the pilot will be split evenly between Blockstream and Block. The project is planned to be operational within a few hours.
Back stated that information about the mining operation, including energy consumption and hash rate, will also be made public.
“When people only publish analyst reports, articles, blog posts, and data, they become suspicious. However, if we publish the financial information along with the data, this may draw attention”
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