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• Block and Blockstream announce the construction of a zero-carbon BTC farm
• The farm must be operated with self-generated solar energy and, if successful, also integrate wind energy
• Block and Blockstream acquire technology from Tesla: Solar Pandels and Megapack
BTC consumes more electricity than Ukraine or Norway
Bitcoin (BTC) consumes around 140 terawatt hours (Twh) of electricity per year. The company has been heavily criticized for this by environmentalists – for comparison: Ukraine and Norway each consume only around 125 TWh per year, according to the Cambridge Bitcoin Electricity Consumption Index in mid-April. In early April, Blockstream and Jack Dorsey’s finance company, Block (formerly: Square), announced in a press release that they would be building a new all-solar mining farm. Blockstream already operates several mining farms in North America, which they say are mostly powered by non-fossil fuels. The solar farm means a next step towards more respect for the environment.
The live dashboard provides great transparency of the new mining farm
“People like to discuss different aspects of bitcoin mining. We thought that was enough to prove it.” With those words, CNBC quoted Blockstream CEO and co-founder Adam Back.
According to the press release, there will be a live dashboard through which all of the mining farm’s daily updated key figures will be publicly viewable: including power generation, number of BTC mined and more. later also data on the solar system and electricity storage. The goal is to build the entire farm as seamlessly as possible to serve as a case study for possible other solar-powered mining farms.
Construction is expected to be completed by the end of the year
Block and Blockstream want to generate solar power themselves – with the help of Tesla’s solar panels (3.8 megawatts of power) and Tesla’s storage megapacks (12 megawatts of capacity). This should be the farm’s only power source at the moment. Construction has already started and should be completed before the end of the year. According to CNBC, if the project is successful, it is possible to later integrate self-generated wind power into the farm. The farm will apparently be built in Texas because the quality of solar radiation and wind speed create ideal conditions for renewable energy production there.
Tesla has yet to comment on the new BTC farm
“We are excited to begin construction of this facility with Tesla Solar and Megapack. This is a step to prove our thesis that Bitcoin mining can fund zero-emissions energy infrastructure and fuel economic growth for the future. future,” Back said in the press release. As of mid-April, Tesla had yet to issue a statement on new customers.
Olga Rogler / Editor finanzen.net
Leverage must be between 2 and 20
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