Bitcoin mining in Texas - new trend - will Tesla follow

[dothebeats]

Seems like these companies took some sweet, sweet deal from the power companies that are abundant in Texas, otherwise they wouldn't really be looking at the state to do their mining operations. The climate on the state for the most part of the year is not forgiving to what a mining facility wants, and so you will have issues about ventilation, temps, and would need even more people on maintenance just to ensure that the miners are running on optimal condition at all times. Whatever deal they got from power companies, it's enough for them to consider the state to put their facilities in despite other factors going against mining per se.

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[Gyfts]

Seems like these companies took some sweet, sweet deal from the power companies that are abundant in Texas, otherwise they wouldn't really be looking at the state to do their mining operations. The climate on the state for the most part of the year is not forgiving to what a mining facility wants, and so you will have issues about ventilation, temps, and would need even more people on maintenance just to ensure that the miners are running on optimal condition at all times. Whatever deal they got from power companies, it's enough for them to consider the state to put their facilities in despite other factors going against mining per se.

Well, the unique thing about Texas is it apparently has its own power grid that is entirely self reliant. But that should have no bearing on Bitcoin mining facilities because their only concern is energy costs.

https://www.thebalancesmb.com/most-expensive-and-cheapest-electricity-by-state-4177753

Texas doesn't even break in the top 10 for cheapest electricity. Could be because of the Texas economy which is booming due to Californians fleeing.

[Lorence.xD]

Considering that Elon is planning to build a city called Starbase in Texas, I think that there is a real possibility that they will follow this trend and he might become the biggest and most green bitcoin mining in the region. I think that Texas is a pretty good location because it is a big state and you can easily choose where you want to go whenever you want and the tax cuts there as I have heard is attractive for companies and rich people alike.

[Kittygalore]

Seems like these companies took some sweet, sweet deal from the power companies that are abundant in Texas, otherwise they wouldn't really be looking at the state to do their mining operations. The climate on the state for the most part of the year is not forgiving to what a mining facility wants, and so you will have issues about ventilation, temps, and would need even more people on maintenance just to ensure that the miners are running on optimal condition at all times. Whatever deal they got from power companies, it's enough for them to consider the state to put their facilities in despite other factors going against mining per se.

Yeah, maybe they got delusional and thought that it gets cold in Texas most of the time. Maybe what they are after is the land to put their operations because I believe that bitcoin mines take a lot of land if you want to build a profitable one. They could have saved if they were to put their mines on a place that is cold most of the time like that one place(I forgot the name) where Facebook has a data warehouse or @dothebeats might be right, the deal from power companies are so attractive that they are going to put up a mine there.

[el kaka22]

Tesla is not a company that mines, if they did they have solar city under their roof as well, well not technically tied to tesla I suppose but Elon owns that one as well, which means they could have handle energy as cheap as anyone in the world, all solar power, can be built anywhere that gets a lot of sun, like texas or like arizona or any other place that gets sun most of the year, and they could build miners as well because they have smartest minds in the world, if someone can hire people who sends rockets to mars, they can certainly hire people who can build miners as well.

So, basically if they wanted to get into this business, they would have been able to do this much better than anyone in the world, but they are not interested in that, they are doing much more work and a lot more profit with cars and rockets right now and that is why they do not care.

[casperBGD]

Tesla is not a company that mines, if they did they have solar city under their roof as well, well not technically tied to tesla I suppose but Elon owns that one as well, which means they could have handle energy as cheap as anyone in the world, all solar power, can be built anywhere that gets a lot of sun, like texas or like arizona or any other place that gets sun most of the year, and they could build miners as well because they have smartest minds in the world, if someone can hire people who sends rockets to mars, they can certainly hire people who can build miners as well.

So, basically if they wanted to get into this business, they would have been able to do this much better than anyone in the world, but they are not interested in that, they are doing much more work and a lot more profit with cars and rockets right now and that is why they do not care.

this is actually as far from true, as a statement can be
rockets certainly do not see profits at the moment, and no one is expecting profit from that in near future, since that is development phase for the project, and Elon is investing in rocket business, which is not under TSLA as well, it is a separate company

TSLA earned more from buying BTC than selling cars in ten years, and they actually aren't profitable at all in selling cars, what makes TSLA profit is selling green-energy credits for other manufacturers that do not produce electric cars, and produce classic cars with combustible engine

[doomloop]

Let’s see what’s going to happen in the years coming, if they are going to start mining bitcoin or not. But it’s not really necessary, we already have a lot of bitcoin mining companies. Though if they decide to go for it and become and Bitcoin mining company that wouldn’t be bad, I know very well that they are going to be among the companies that will be the biggest in the industry, because they already have lots of money to invest and build it to the level they would want.

Considering that Elon is planning to build a city called Starbase in Texas, I think that there is a real possibility that they will follow this trend and he might become the biggest and most green bitcoin mining in the region.

Wow, this is the first time that I’m getting to know about this Starbase you’re talking about. What’s it all about? I don’t live in the US and I don’t really follow him on any social media platform, so I am not able to catch up with any of the news that has to do with him.

[StartupAnalyst]

SpaceX spaceport is based in Texas that is the main reason why Elon Musk wants to build his Spacebase town there. However I won’t wonder if he would put their a lot of windmills to have cheap electricity and also make there a small (on several thousands of asics) BTC (and Dogecoin as well) mining farm like that did those companies. Texas has all facilities for this.

[slapper]

Sound a little bit radical but all I see is environmental pollution. Bitcoin mining is profitable and we need a farm so as to confirm transactions and my new block. But with this accelerate, soon, our world will become a big hot ball with electrical farms. Personally, POW is kinda outdated, and new alteration is needed to exterminate. Goss, people only care about money and profit. How will you use your money if one day our earth dies?

Tesla will definitely not join this farming race. He already had his electric car company and his space adventure career - SpaceX . And I believe space adventure will be the next innovation of humankind because there are immense resources in the big black blank space. An asteroid can provide enough power, mineral material for a whole country

[CaVO32]

SpaceX spaceport is based in Texas that is the main reason why Elon Musk wants to build his Spacebase town there. However I won’t wonder if he would put their a lot of windmills to have cheap electricity and also make there a small (on several thousands of asics) BTC (and Dogecoin as well) mining farm like that did those companies. Texas has all facilities for this.

There is possibility that he is already thinking about this kind of venture. But of course, I believe, he will use a renewable energy source unlike other mining facilities. As Musk has investments in btc and doge, more than likely, putting up his own mining facility has passed in his mind. Let us see in the coming months or years, if he will announce putting up some of his investments in crypto mining. Elon wants clean power, and right now, bitcoin mining is giving off million metric tons of carbon dioxide emissions. So it is an irony of what he is preaching for.

[AndySt]

Let’s see what’s going to happen in the years coming, if they are going to start mining bitcoin or not. But it’s not really necessary, we already have a lot of bitcoin mining companies. Though if they decide to go for it and become and Bitcoin mining company that wouldn’t be bad, I know very well that they are going to be among the companies that will be the biggest in the industry, because they already have lots of money to invest and build it to the level they would want.

I very much doubt that Tesla will start mining in the near future and here's why. Undoubtedly, Elon Musk, with his recent statements and responses, shows sympathy for the cryptocurrency, especially for bitcoin and dogcoin. But it is one thing to buy a certain amount of bitcoins and organize the sale of electric cars for this cryptocurrency, because these are quite interconnected things, and it is completely different to engage in mining. Still, I think that batteries and cars will remain the main business of the company in the near future and the company is unlikely to be sprayed on mining, because this is very far from their main profile of activity, I would rather believe in the new initiatives of the company about energy.

[prehisto]

This is very interesting information, I would never think that it would be feasable to main BTC in Texas or i nUS in general . I tought that the electricity costs are way higher than in other places like Russia, India, China...

Regarding Tesla, no way, it is not their bussines , they have too much on their plate. The best case scenario could be that they would do something with tesla roof + btc as a marketing trick . otherwise, no way.

[ilovealtcoins]

Texas uses self-sufficient energy and that is risky. Or look back at how the blizzard in February exhausted the state. I am not in favor of bitcoin mining in Texas as it could cause a severe energy shortage in the state.
Bitcoin mining should be located in areas close to hydroelectricity or nuclear power facilities because these places have a large capacity and are more stable than other forms of energy.

[sana54210]

This is very interesting information, I would never think that it would be feasable to main BTC in Texas or i nUS in general . I tought that the electricity costs are way higher than in other places like Russia, India, China...

Regarding Tesla, no way, it is not their bussines , they have too much on their plate. The best case scenario could be that they would do something with tesla roof + btc as a marketing trick . otherwise, no way.

Texas is one of the most oil rich places in the world and that is why electricity is cheaper there. There is also a lot of winds and a lot of sun there as well so you can always get your own energy source without needing anything, when you have those type of personal energy production, you do not really care where you are because you are doing it yourself, of course it matters because you do not do solar panels on Iceland to get a lot of sun, you do it on Texas, but that is about it because if you can do it you can do it on Africa or Texas and it is the same since all you need is sun.

Texas has all kinds, gas, oil, sun, winds and that is why it is a great place to start. I believe with these type of works, we are going to see a lot more places starting to manufacture new mining equipment as well, we will see a Texas based company trying to make something that is faster and have higher hash rate.

[AndySt]

Texas uses self-sufficient energy and that is risky. Or look back at how the blizzard in February exhausted the state. I am not in favor of bitcoin mining in Texas as it could cause a severe energy shortage in the state.
Bitcoin mining should be located in areas close to hydroelectricity or nuclear power facilities because these places have a large capacity and are more stable than other forms of energy.

No one bothers to attend to the construction of their own wind or solar power plants for mining tasks, given some of Tesla's environmental preferences, as well as participation in the production of solar panels and accumulators. Although I have great doubts that mining is among the priorities of Elon Musk due to its relatively low marginality and the claims of environmentalists to mining due to the large consumption of electricity.

[ene1980]

Why should we think that Tesla would jump into a space where they are not interested, they invested heavily in bitcoin but that does not mean that they are willing to invest billion to set up a mining farm. The big mining farms that are active now might migrate to Texas and continue their mining process and we might see other miners showing interest as well.

[Hydrogen]

Tesla appears to be constructing a 100+ megawatt battery for the powergrid in texas.

Tesla Is Plugging a Secret Mega-Battery Into the Texas Grid

A Tesla subsidiary registered as Gambit Energy Storage LLC is quietly building a more than 100 megawatt energy storage project in Angleton, Texas, a town roughly 40 miles south of Houston. A battery that size could power about 20,000 homes on a hot summer day. Workers at the site kept equipment under cover and discouraged onlookers, but a Tesla logo could be seen on a worker’s hard hat and public documents helped confirm the company’s role.

https://www.msn.com/en-us/money/companies/tesla-is-plugging-a-secret-mega-battery-into-the-texas-grid/ar-BB1emHXQ

They previously built a 129 megawatt battery in south australia which saved $116 million in power costs over two years.

World's biggest battery developed by Elon Musk's car firm Tesla is powering 30,000 homes in Australia and has saved residents $116 MILLION in energy costs over two years

Elon Musk owned Tesla installed a battery farm in South Australia in 2017 and has since helped residents save $116 million in energy costs, Bloomberg reports.

The company installed the world's biggest lithium-ion batter to help reduce the risk of blackouts as the country moved to renewable power generation.

Operating via the Hornsdale Power Reserve, it has helped to restore stability to the network and lower the costs of running the power grid, according to reports.

https://www.dailymail.co.uk/sciencetech/article-8082841/Elon-Musks-Tesla-battery-farm-saved-South-Australia-116-MILLION.html

Its been said that the boom in texas crypto mining is fueled by a surge in wind farms being constructed there.

If crypto miners in texas can contract tesla to build more megawatt batteries for the grid, it could give them a greater advantage in reducing electrical costs.

[casperBGD]

~snip

If crypto miners in texas can contract tesla to build more megawatt batteries for the grid, it could give them a greater advantage in reducing electrical costs.

good point, electrical power from wind is not cheap, but Texas has natural resources to have it as cheap as possible, and that could be accumulated in mega batteries, to be used as renewable source for mining

there is an initiative to use renewable energy for BTC mining, and some investors are claiming that would not buy BTC mined in China, without renewable energy

[galestorm]

Because texas provides inexpensive electricity costs that no other place can provide, it was such an opportune moment for bitcoin miners to use this as a place to conduct operations. Bitcoin miners will definitelt benefit from the renewable energy, such as solar panels or windmills, that could further cut costs. Tesla on the other hand, is working on a new project in texas, not bitcoin related but it has something to do with lithium hydroxide. I dont know if Tesla would follow in bitcoin mining, but knowing Elon Musk, it is possible.

[int03h]

Renewable energy such as wind or solar power cannot create stable reserves. Mining t in Texas is risky because it could be shut down.
The problem of Tesla mining Bitcoin is unlikely because Tesla has a mission to protect the environment.