The mining farm will tap into Tesla’s energy storage technology with rechargeable large-scale batteries at the site, Adam Back, chief executive of Blockstream, said at the Bitcoin Conference 2022 in Miami.
The venture is the latest manifestation of the aligning interests of Tesla Chief Executive Elon Musk and Twitter co-founder Dorsey, including over the energy usage of Bitcoin.
Musk expressed his interest in Bitcoin and Dogecoin early last year and allowed Tesla customers to buy the electric cars with Bitcoin, helping to send the crypto market to record highs.
The latest move comes after Block, which is formerly known as digital payment company Square, secured a purchase from Intel Corp.’s Bitcoin mining chip.
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