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 >
Justin Sun Suggests Strategy to Push Ethereum’s Price to $10K
Justin Sun Suggests Strategy to Push Ethereum’s Price to $10K
Jan 23, 2025
Justin Sun has revealed a plan that could reshape Ethereum’s ecosystem and push the price of its native cryptocurrency to $10,000. The Tron founder outlined how, if in charge, he would manage the Ethereum Foundation (EF) and the Ethereum network. Details From the Plan According to a January 22 post on X, the plan begins with an immediate halt to...
Ripple Price Analysis: Key Support Breakdown May Push XRP to $2
Ripple Price Analysis: Key Support Breakdown May Push XRP to $2
Jan 23, 2025
Ripple’s price has been rallying aggressively since November last year as it managed to match its 2018 all-time high. However, it failed to break above it and is currently struggling to continue higher. By Edris Derakhshi (TradingRage) The USDT Paired Chart On the USDT pair, the third-largest cryptocurrency has regained bullish momentum since the beginning of 2025, after a month...
Bitcoin Price Analysis: Warning Signs of a BTC Correction Ahead
Bitcoin Price Analysis: Warning Signs of a BTC Correction Ahead
Jan 23, 2025
Bitcoin’s price is currently teasing with investors, as it is struggling to sustain its rally above the $100K resistance level and could even be on the verge of a short-term correction. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset has been making higher highs and lows since rebounding from the $92K level. While...
Could Dogecoin (DOGE) Hit $15? Analysts Point to This Key Factor
Could Dogecoin (DOGE) Hit $15? Analysts Point to This Key Factor
Jan 23, 2025
TL;DR Analysts predict a major surge for Dogecoin, with targets ranging from $2 to $15, driven by historical performance and the potential approval of a DOGE ETF by Bitwise and other firms. The newly established Department of Government Efficiency (D.O.G.E.), led by Elon Musk, briefly boosted the meme coins price with one of its recent moves, while industry participants expect...
Copyright 2023-2026 - www.financetom.com All Rights Reserved