Blockstream & Block To Mine BTC Using Tesla’s Megapack & Solar – April 8

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $42,295

Bitcoin price has fallen through $43,000, following a failed attempt to reclaim the $44,000 level twice over the last 24 hours.

Top-20 altcoins are also sliding, as BNB falls 2%, Terra drops 7% and Ethereum remains unchanged.

Top Stories for April 8, 2022 πŸ”₯

πŸ‘‰ Blockstream & Block To Mine BTC Using Tesla’s Megapack & Solar

Blockstream and Block (formerly Square) are planning to mine Bitcoin using solar power and Tesla’s Megapack – a battery storage solution for power stations.

Blockstream CEO Adam Back announced the project today at the Miami Bitcoin 2022 conference. It will begin with a $12 million pilot project based in Texas, with 3.8 megawatts of solar power and 12 megawatt-hours of battery storage.

The battery storage will keep the operation running at night and at times of minimal sun throughout the day. The farm will be capable of a hash rate of around 30 petahashes per second.

πŸ‘‰ DeFi Protocol Yearn Becomes First To Implement New ERC-4626 Token Standard

Decentralized finance (DeFi) protocol Yearn Finance has become the first to implement the new ERC-4626 token standard on Ethereum.

The ERC-4626 standard is designed to improve the security and interoperability of yield-bearing tokens in the DeFi space, allowing the wider ecosystem to mesh together in a more streamlined way.

πŸ‘‰ Terra Buys $200M Of AVAX For UST Stablecoin Reserves

Two Terra blockchain organizations – Terraform Labs and the Luna Foundation Guard – have each purchased $100 million worth of Avalanche (AVAX) tokens.

While the Luna Foundation Guard has acquired its stake to back its UST stablecoin reserves, Terraform Labs obtained its AVAX in a swap for Terra’s native LUNA tokens in an effort to align ecosystem incentives.