Blockstream CEO Adam Back said on Friday that electric-vehicle maker Tesla, payments firm Block Inc and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas.
Tesla is building out solar power infrastructure and providing its megapack of batteries, Back added.
Blockstream and Block, formerly known as Square, said in June that they were collaborating to build an open-source and solar-powered bitcoin mining facility in the US.
Bitcoin are created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on fossil fuels. (Bitcoin price is Rs 34,01,602 in India as of 10.57 am on 9th April)
Environmental concerns related to bitcoin mining prompted Tesla to stop accepting bitcoin for car purchases in May last year.
Tesla and Block did not immediately respond to requests for comment.
© Thomson Reuters 2022
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