Tesla, Blockstream And Block Team Up And Mine Bitcoin

New exciting moves are taking place in the crypto space these days. Check out the latest important partnership that will support the mining of Bitcoin.

Blockstream and Jack Dorsey’s Block, formerly known as Square, are have teamed up to work on a solar- and battery-powered Bitcoin mine in Texas that uses solar and storage technology from Tesla.

The mine, first announced in June 2021, will be powered by Tesla’s solar array and Megapack battery

Via @caseywagnerr https://t.co/WYfux4LGiZ

— Blockworks (@Blockworks_) April 8, 2022

Tesla’s 3.8 megawatt solar PV array and 12 megawatt-hour Megapack will power the facility, according to the latest reports.

It’s been also reported that Blockstream co-founder and CEO Adam Back, who is also a British cryptographer and a member of the “cypherpunk” crew, told CNBC on the sidelines of the Bitcoin 2022 conference in Miami that the mining facility is designed to be a proof of concept for 100% renewable energy bitcoin mining at scale.

“People like to debate about the different factors to do with bitcoin mining. We figured, let’s just prove it. Have an open dashboard so people can play along, maybe it can inform other players to participate,” Back said.

Make sure to check out more that he had to say in the official reports from CNBC.

It’s been just revealed that the crypto analyst and DataDash host Nicholas Merten says Bitcoin (BTC) will hit new all-time highs sooner than most traders think.

In a new DataDash YouTube update, Merten made sure to explain that BTC will retest $65,000 much faster than most anticipate, with underlying fundamental developments fueling the move.

“It’s going to happen much much quicker than people will think here for Bitcoin to be able to retest back up to this range [$65k].”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $42,493.