Texas Continues to Expand Renewable Bitcoin Mining with Tesla's Invovlment?!

By Cje95 | Chronic Illness and Crypto | 10 Apr 2022


West Texas has been described as a pristine place to develop solar and wind power generation. There is a trade though that the area faces with being such a great place to develop these assets.... the area is sparsely inhabited. This means that it does not make a ton of sense for the area to be developed unless another industry is built there. Previously we have seen data centers for Google, Microsoft, Apple, and more buy up these renewable farms to power these centers and help lower a company's ecological footprint. Like the data centers before it, Bitcoin Mining has come running to Texas over the last couple of years with the ability to access cheap renewable power.  

 

Like the data centers before it, these facilities do more than help Bitcoin turn more "green". State of the art equipment is being installed at these facilities that are helping not only the miners but also the communities who are located around them. It eliminates a place that only older power plants would be profitable to operate thus helping ween even the rural individuals off of fossil fuels. 

 

The names on this project really caught my attention. Block, formerly known as Square, has previously said it was going to get into Bitcoin mining and this is the endevor that they are leading with Blockstream. The solar pannels and battery storage system is being provided by Tesla. Remember Tesla stopped most of its cryptocurrency involvement due to environmental concerns so I did find there system being used for this interesting. The solar array with produce 3.8 megawatts while the Tesla Megapack will be used to provide 12 megawatt hours of battery time. 

 

Since so much has been made about Bitcoins energy consumption it this group will be doing something new something that I am in love with as it furthers the transparency that blockchain has brought us! This farm will have an open dashboard to allow anyone and everyone to follow along! The farm also is a proof of concept as the entirety of the farm will depend on solar power. Mining Bitcoin at scale has really not been thoroughly proven to be possible. While the mining in Texas has typically used a ton of renewables energy providers, in times when renewables were not producing as much, could and would tap into natural gas. While this power is very clean burning compared to any other fossil fuel it does make it to where these plants have not been fully green. 

 

Various groups are building mining facilities in Texas to address this and now we can add Block, Blockstream, and Tesla to this list. I particularly like how this group has open sourced what they are doing so other companies can look at see where they could make improvements to their own facilities. I have not yet heard about what miners will be used but Block has also been talking about designing and using their own. Depending on how efficient they are though they might opt for once that are better suited for the Texas climate and cheaper to produce.

 

Please know I am not a financial advisor I am just someone who picked up on a trend and wanted to express it! Makes sure you always do your own research and never invest money you cannot afford to lose! If you enjoyed this article and would like to further support me below are a couple of referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_

 

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C.! Huge sports fan, space nerd, and international newsreader! Follow me on Twitter @Cje95_


Chronic Illness and Crypto
Chronic Illness and Crypto

Cryptocurrency and Blockchain are going to be a huge part of the future and no matter who tries it isn't going to be stopped! Here I try to give my best insight and thoughts into the latest crypto news, features, developments. Further, I look to discover any link to news from the United States ranging from social-political issues to stock market and economic data.

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