The joint project to build a proof-of-concept, 100% renewable energy Bitcoin mining facility at scale is to be powered by Tesla Solar and Megapack. Construction has begun on the 3.8 Megawatt (MW) facility, which will be powered by a Tesla Solar PV array and 12 megawatt-hours (MWh) Tesla Megapack.
The mining facility, once completed, will:
- Result in a projected 3.8 Megawatts of solar renewable power (e.g. off-grid energy), 30 Petahash (PH) hash rate
- Include a public-facing performance dashboard for the project
- Aim to show that Bitcoin mining can fund zero-emission power infrastructure starting with a proof-of-concept for 100% renewable energy Bitcoin mining at scale
- Strengthen the Bitcoin network by diversifying Bitcoin’s energy sources
- Encourage new innovations in powering zero-emission Bitcoin mining
“We’re excited to start the construction of this facility using Tesla Solar and Megapack,” says Adam Back, CEO and co-founder at Blockstream. “This is a step to proving our thesis that Bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future.”
Blockstream will provide the mining infrastructure and expertise to build and oversee the project, with the Bitcoin mining facility aiming to be completed later this year. In addition to providing regular reports on the economics of the project, a publicly accessible dashboard showing real-time metrics of the project’s performance, including power output and bitcoin mined will be made available. A later version of the dashboard will also include solar and storage performance data points.
This transparency of the project, say the companies, will allow the project to serve as an industry case study for future projects.
“By collaborating on this full-stack, 100% solar-powered Bitcoin mining project with Blockstream, using solar and storage technology from Tesla, we aim to further accelerate Bitcoin’s synergy with renewables” says Neil Jorgensen, Global ESG Lead at Block and Project Lead for Block’s Bitcoin Clean Energy Initiative.