Tesla technology will help Jack Dorsey’s company in bitcoin mining
The Block (formerly Square), led by founder and former Twitter CEO Jack Dorsey, has partnered with Blockstream to launch a bitcoin mining farm project in Texas. Power will be provided by Tesla solar panels and batteries.
The head of Blockstream, Adam Back, spoke about the new project at the Bitcoin Conference 2022 in Miami. He clarified that large Tesla batteries will be used on the site. Mr. Beck did not specify the exact location of the facility.
The interests of Tesla CEO Elon Musk and Twitter co-founder Jack Dorsey once again coincided: earlier, Dorsey spoke positively about Mask joining the board of directors of the social network, when he announced the purchase of a large share of the platform. At the beginning of last year, Musk started enthusiastically talking about cryptocurrencies – bitcoin and Dogecoin. At one point, Tesla even started selling electric cars for bitcoin, which provoked a rise in the price of digital assets. However, the company later abandoned the idea because, according to some reports, bitcoin mining is damaging the environment.
It has recently become known that Block has purchased a batch of Intel mining chips – they come either as components or as ASIC devices. The head of the company, Jack Dorsey, during his tenure as CEO of Twitter, integrated some functions of the blockchain into the social network: allowed to accept tips in bitcoins and added support for NFT-images as profile pictures. Tesla also continues to invest in bitcoins: as of March 31, the value of digital assets at the disposal of the automaker was $ 2.48 billion.
