Musk And Dorsey Will Collaborate On Bitcoin Farm

Tesla CEO Elon Musk and Block CEO Jack Dorsey will collaborate on a solar-powered Bitcoin farm.

The huge amount of energy consumed by Bitcoin mining has started to highlight efficiency-oriented projects. Many technology giants have allocated funds to improve efficiency. Jack Dorsey is also taking an important step. Twitter founder Jack Dorsey changed his firm, formerly known as Square, to Block and focused on cryptocurrency-related projects. Now Block will set up a solar-powered Bitcoin mine in Texas. In the project started by Blockstream founder Adam Back, Tesla will provide the solar power system. 3.8 megawatt photovoltaic solar panels and a 12 megawatt-hour Megapack battery pack will power this new Bitcoin mine. The control panel of this mine, which is completely dependent on renewable energy, will be open to everyone. Thus, the consumed energy and the amount of Bitcoin mined can be seen instantly. Solar and storage performance metrics will be added in the next period. The project, which is expected to be completed by the end of the year, will continue as a pilot for a while. In the meantime, it is stated that wind energy can also be activated if necessary.