financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Tesla, Block and Blockstream to mine bitcoin off solar power in Texas
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Tesla, Block and Blockstream to mine bitcoin off solar power in Texas
Apr 8, 2022 1:16 PM

Electric-vehicle maker Tesla Inc TSLA.O, payments firm Block Inc and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas, CNBC reported on Friday.

The bitcoin mine would use solar and storage technology from Tesla and be entirely run on renewable energy, the report said.

Blockstream and Square had said in June that they were collaborating to build an open-source and solar-powered bitcoin mining facility in the United States.

Also Read:

Bitcoin Conference 2022: The biggest developments so far

Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on fossil fuels.

The environmental concerns related to bitcoin mining had in May last year prompted Tesla to stop accepting bitcoin for car purchases.

Tesla, Block and Blockstream did not immediately respond to requests for comment.

Also Read: How Norway has turned into a green oasis for Bitcoin mining

At the ongoing Bitcoin Conference in Miami, Shark Tank star and Canadian millionaire Kevin O’Leary said that Bitcoin mining could save the world.

He spoke about how the adoption of green energy by mining companies could reduce fossil fuel usage and trigger a wider acceptance of sustainable energy. “The next generation of Bitcoin miners and software represented right here are starting to work with energy that does not require carbon,” O’Leary said in the Bitcoin panel.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bitcoin Bulls Eye $60K Next as Bittensor (TAO) Soars 11% Daily: Market Watch
Bitcoin Bulls Eye $60K Next as Bittensor (TAO) Soars 11% Daily: Market Watch
Jul 10, 2024
The entire cryptocurrency market saw a resurgence throughout the past 24 hours. Its capitalization is up by 1.8%, currently standing at around $2.25 trillion. This comes on the back of newfound confidence in Bitcoin buyers who are now looking to push the price to $60K. A lot of the large-cap altcoins are giving mixed signals, but some trending coins are...
Bitcoin (BTC) Price Prediction for the end of 2024 by Anthony Scaramucci
Bitcoin (BTC) Price Prediction for the end of 2024 by Anthony Scaramucci
Jul 10, 2024
TL;DR Bitcoins price dip, influenced by factors like Mt. Gox repayments, is seen as temporary, with predictions of a rally to $100,000 due to strong fundamentals. The BTC Fear and Greed Index entering fear territory suggests a potential buying opportunity and possible price rebound. What Can Fuel a BTC Price Rally? The past 30 days have been rather disappointing for...
Big Bank Crypto Move: Standard Chartered Subsidiary Seeks to Expand OTC Services
Big Bank Crypto Move: Standard Chartered Subsidiary Seeks to Expand OTC Services
Jul 10, 2024
The investment bank’s crypto division, Zodia Markets Ltd., is discussing acquiring part of Elwood Capital Management Ltd. The firm is backed by billionaire hedge fund manager Alan Howard, and the deal is expected to be completed this month, according to a July 9 Bloomberg report citing people familiar with the matter. Elwood Capital offers over-the-counter (OTC) crypto trading and settlement...
Ripple (XRP) Finds a Spot on an Important List: Report
Ripple (XRP) Finds a Spot on an Important List: Report
Jul 10, 2024
TL;DR Ethereum (ETH) is the top trending token due to updated S-1 forms for spot ETH ETFs filed by major financial firms, with potential trading starting as early as July 18. Ripples XRP gains popularity amid the Ripple v SEC lawsuit, while other notable cryptocurrencies include Celestia (TIA) and Bonk Inu (BONK), showing significant price increases. ETH Leads the Pack...
Copyright 2023-2026 - www.financetom.com All Rights Reserved