Payments firm Block and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas.
Tesla will install a 3.8-megawatt (MW) solar power plant, and 12-megawatt-hour (MWh) Megapack batteries to power the venture.
Block (formerly called Square) teased the deal last June promising an investment of $5 million in a solar-powered mine.
The project will be completely off-grid and will cost $12 million — a bill that will be split evenly between Blockstream and Block.
It is expected to be complete, and producing power later this year.