Tesla is now planning on mining Bitcoin using solar energy.
According to a new report from Reuters, the EV maker will be partnering with payments firm Block Inc and blockchain company Blockstream to mine Bitcoin using a solar power infrastructure that it’ll soon build. Plans for a solar-powered mining facility were first announced back in June last year, but Tesla’s involvement was kept under wraps at the time. Blockstream CEO Adam Back added that the automaker will be in charge of constructing the entire infrastructure, which will also utilize its own Megapack batteries.
The development marks a strong step forward for Bitcoin and crypto mining in general. The practice has long been criticized for its immense impact on the environment due to the large amounts of energy required to power high-performance computers. Tesla’s shift to using renewable energy will no doubt set a good precedent for the rest of the industry.
Elsewhere in tech, Meta is reportedly planning on launching its own digital currency.
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