Block, Tesla and Blockstream to mine bitcoin with solar power in Texas - CNBC

Block (NYSE:SQ) and Blockstream are starting to build a solar- and battery-powered bitcoin (BTC-USD) mining operation in Texas that uses solar and storage technology from Tesla (NASDAQ:TSLA), CNBC reported Friday, citing comments made by Blockstream CEO Adam Back at the Bitcoin 2022 conference in Miami. The facility is meant to prove that bitcoin (BTC-USD) can be mined at scale with 100% renewable energy, he told CNBC on the sidelines of the conference. "This is a step to proving our thesis that bitcoin mining can fund zero-emission power infrastructure and build economic growth for the future," he said. Some crypto enthusiasts argue that bitcoin-mining facilities can offer financial incentives for building out renewable energy infrastructure in remote areas. The miners bring demand to semi-stranded assets and make renewables in Texas economically viable, Castle Island Venture's Nic Carter said. The Blockstream/Block (SQ) mine is expected to be completed later this year. If it