Tesla Teams Up With 100% Solar-Powered Bitcoin (BTC) Mining With Jack Dorsey’s Block

The vehicle giant Tesla is reportedly teaming up with the payments platform Block and the blockchain tech company Blockstream to mine Bitcoin (BTC) in Texas using solar energy.

CNBC notes that the trio will mine BTC using Tesla’s solar panels and proprietary battery storage packs.

The mining outfit will feature an open dashboard where anyone can keep track of the facility’s metrics, such as power output, total BTC mined as well as data on solar and storage performance.

Adam Back, co-founder, and CEO of Blockstream told CNBC at the Bitcoin 2022 conference in Miami that the facility is designed to prove that mining Bitcoin by market cap can be done purely using 100% renewable energy.

Back said the following:

“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…We’re interested [in proving] our thesis that Bitcoin mining can help fund green power infrastructure.”

Elon Musk’s fans are happy following the latest reports claiming that he is now the biggest shareholder at Twitter. He reportedly bought a $3 billion stake (9.2%) and the Internet is going crazy with excitement.

Twitter is currently celebrating the great news and there are all kinds of juicy posts about this.

Elon Musk has already made ~$750 million on his Twitter trade, which is approximately double Twitter’s net income for the last 3 years.

— Ben Thompson (@benthompson) April 4, 2022

The crypto space is going crazy with excitement after Elon Musk just admitted to owning Bitcoin, Ethereum, and DOGE. He also said that he is not planning to sell these.

As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.

I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.

— Elon Musk (@elonmusk) March 14, 2022

Stay tuned for more news and also make sure to keep your eyes on the market.