Home Bitcoin News Bitcoin Mining Tesla delivers Megapacks to new Bitcoin mining facility – Electrek.co

Tesla delivers Megapacks to new Bitcoin mining facility – Electrek.co

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Tesla has delivered 4 Megapacks to an enormous new Bitcoin mining facility in Texas that’s going to be the primary to be powered by the automaker’s photo voltaic and batteries.

Final month, the project was announced as a partnership between Tesla, Blockstream, and Jack Dorsey’s Blocks (previously Sq.).

The concept is to construct a brand new 30 Petahashes per second open-source Bitcoin mining facility powered by a 3.8 MW photo voltaic farm and 12 MWh Megapack system offered by Tesla.

Blockstream raised ~$40 million for the venture by way of a token, which permits individuals to technically spend money on the Bitcoin mining operation powered by Tesla Megapacks and photo voltaic by buying and selling the token on Bitfinex.

The venture is shifting rapidly as Tesla has now delivered the 4 Megapacks to the mining facility:

Tesla’s involvement within the venture can also be attention-grabbing inside the context of the corporate adopting the cryptocurrency in its personal enterprise.

Early in 2021, Tesla invested $1.5 billion in Bitcoin. Shortly after, the automaker started accepting the cryptocurrency as payment on new automobiles.

Nevertheless, a number of days later, Tesla took a step again with crypto by eradicating the Bitcoin fee choice. The corporate famous considerations over the power wants of the Bitcoin community:

Tesla has suspended car purchases utilizing Bitcoin. We’re involved about quickly rising use of fossil fuels for Bitcoin mining and transactions, particularly coal, which has the worst emissions of any gas.

It is a concern that many Tesla group members shared when Tesla first introduced its Bitcoin funding, and plenty of have been angered by the truth that the corporate didn’t give it some thought within the first place.

On the time, Tesla famous that they weren’t promoting their stake in Bitcoin, and that they deliberate to renew taking Bitcoin funds as soon as the community exhibits the next mixture of renewable power. Final summer time, CEO Elon Musk mentioned that he believes Tesla will resume taking Bitcoin payment as he sees improvements in the energy mix of Bitcoin mining. That has but to occur, however Tesla is now immediately concerned in serving to energy Bitcoin mining with clear power by way of this venture in Texas.


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