Energy
Mysterious cryptocurrency co. buys out land around Tesla’s Gigafactory
Tesla’s Gigafactory in Nevada will soon be joined by Blockchains, LLC in the Tahoe-Reno Industrial Center, with the cryptocurrency firm purchasing 67,125 acres of the 105,000-acre industrial area. Blockchains, LLC’s massive site would be home to its main campus, as well as the company’s other pertinent facilities.
Blockchains, LLC’s purchase of the massive plot of land in the industrial center was confirmed by partner-broker Lance Gilman, who noted that he closed escrow last week on the sale of the land to the cryptocurrency firm. For perspective, Tesla, one of the anchor tenants at the park with its Gigafactory owns nearly 3,000 acres at the center. Google purchased 1,210 acres at the park in 2017. Combined, the two technology giants own a little more than 4,000 acres or roughly 6% of the 67,000 acres being purchased by Blockchains, LLC.
What’s particularly interesting, however, was the fact that the purpose of the land acquisition is shrouded in mystery, as are details for the company itself.
In a statement to The Nevada Independent, Gilman noted that the Blockchains, LLC deal was worth around $175 million. Gilman did not reveal many details about the cryptocurrency firm’s projects in the area, though the TRIC executive teased that the company’s corporate headquarters and software design research center would be built on the site. Overall, the TRIC partner-broker stated that he is quite optimistic about the potential of blockchain technology.
“It has been explained to me that this particular process will revolutionize the globe in a more dramatic way than the internet,” Gilman said.
While very little is currently known about Blockchains, LLC, the company’s website invokes the idea that the mysterious firm is highly dedicated to the development and research of blockchain technology, the backbone of cryptocurrencies such as Ethereum and Bitcoin. According to the company’s official website, Blockchains, LLC is involved in projects focusing on financial services, software development of distributed applications (DAPPS) for the Ethereum blockchain, and trusted identity solutions.
The company is still new, however, with the company’s name registered in Nevada back in May 2017. Listed in the cryptocurrency firm’s registration is California attorney Jeffrey Berns, who is part of the company that owns the URL blockchains.com. Despite the air of mystery around the company and its massive investment in the TRIC, however, Berns has noted in his LinkedIn profile that the firm plans to stay in “stealth mode” for the time being.
As noted in a report from Nevada Newsmakers, Blockchains, LLC’s land in the Tahoe-Reno Industrial Center would be part of the Emerald City initiative, which aims to build a city in the massive industrial area. Emerald City would include a man-made lake, a 500-acre town center, hotels, as well as thousands of housing units and apartments. Shopping centers that would be established in the area are expected to showcase Blockchains, LLC’s technology and services.
Gilman credits Tesla as a key driver in the influx of new, progressive companies that have invested in the industrial park in recent years. According to Gilman, the interest of firms such as Blockchain, LLC appears to have been triggered by Tesla’s decision to set up shop in the center.
“When we met Tesla, that put us on an entirely different international platform. And when that platform started to grow, all of a sudden, here came Switch and others and we just had these corporate groups come in here, following Tesla all of a sudden. And so we’ve entered the tech world,” Gilman said, according to a Nevada Newsmakers report.
Currently, the industrial center is dominated by structures from firms such as Tesla, Google, and Switch. Tesla, for one, has selected the area to be the site for its Nevada Gigafactory 1, which manufactures batteries for its fleet of electric vehicles and energy storage units. As we noted in a recent report, Gigafactory 1 appears to be growing from within, with the California-based electric car maker and energy firm not expanding the facility for the last six months. Once Tesla’s Nevada Gigafactory is completed, however, the facility would be the largest building in the world by footprint.
Energy
Tesla meets Giga New York’s Buffalo job target amid political pressures
Giga New York reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease.
Tesla has surpassed its job commitments at Giga New York in Buffalo, easing pressure from lawmakers who threatened the company with fines, subsidy clawbacks, and dealership license revocations last year.
The company reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease at the state-built facility.
As per an employment report reviewed by local media, Tesla employed 2,399 full-time workers at Gigafactory New York and 1,060 additional employees across the state at the end of 2025. Part-time roles pushed the total headcount of Tesla’s New York staff above the 3,460-job target.
The gains stemmed in part from a new Long Island service center, a Buffalo warehouse, and additional showrooms in White Plains and Staten Island. Tesla also said it has invested $350 million in supercomputing infrastructure at the site and has begun manufacturing solar panels.
Empire State Development CEO Hope Knight said the agency was “very happy” with Giga New York’s progress, as noted in a WXXI report. The current lease runs through 2029, and negotiations over updated terms have included potential adjustments to job requirements and future rent payments.
Some lawmakers remain skeptical, however. Assemblymember Pat Burke questioned whether the reported job figures have been fully verified. State Sen. Patricia Fahy has also continued to sponsor legislation that would revoke Tesla’s company-owned dealership licenses in New York. John Kaehny of Reinvent Albany has argued that the project has not delivered the manufacturing impact originally promised as well.
Knight, for her part, maintained that Empire State Development has been making the best of a difficult situation.
“(Empire State Development) has tried to make the best of a very difficult situation. There hasn’t been another use that has come forward that would replace this one, and so to the extent that we’re in this place, the fact that 2,000 families at (Giga New York) are being supported through the activity of this employer. It’s the best that we can have happen,” the CEO noted.
Energy
Tesla launches Cybertruck vehicle-to-grid program in Texas
The initiative was announced by the official Tesla Energy account on social media platform X.
Tesla has launched a vehicle-to-grid (V2G) program in Texas, allowing eligible Cybertruck owners to send energy back to the grid during high-demand events and receive compensation on their utility bills.
The initiative, dubbed Powershare Grid Support, was announced by the official Tesla Energy account on social media platform X.
Texas’ Cybertruck V2G program
In its post on X, Tesla Energy confirmed that vehicle-to-grid functionality is “coming soon,” starting with select Texas markets. Under the new Powershare Grid Support program, owners of the Cybertruck equipped with Powershare home backup hardware can opt in through the Tesla app and participate in short-notice grid stress events.
During these events, the Cybertruck automatically discharges excess energy back to the grid, supporting local utilities such as CenterPoint Energy and Oncor. In return, participants receive compensation in the form of bill credits. Tesla noted that the program is currently invitation-only as part of an early adopter rollout.
The launch builds on the Cybertruck’s existing Powershare capability, which allows the vehicle to provide up to 11.5 kW of power for home backup. Tesla added that the program is expected to expand to California next, with eligibility tied to utilities such as PG&E, SCE, and SDG&E.
Powershare Grid Support
To participate in Texas, Cybertruck owners must live in areas served by CenterPoint Energy or Oncor, have Powershare equipment installed, enroll in the Tesla Electric Drive plan, and opt in through the Tesla app. Once enrolled, vehicles would be able to contribute power during high-demand events, helping stabilize the grid.
Tesla noted that events may occur with little notice, so participants are encouraged to keep their Cybertrucks plugged in when at home and to manage their discharge limits based on personal needs. Compensation varies depending on the electricity plan, similar to how Powerwall owners in some regions have earned substantial credits by participating in Virtual Power Plant (VPP) programs.
Tesla is updating Cybertruck owners on its timeline of a massive feature that has yet to ship: Powershare with Powerwall.
Powershare is a bidirectional charging feature exclusive to Cybertruck, which allows the vehicle’s battery to act as a portable power source for homes, appliances, tools, other EVs, and more. It was announced in late 2023 as part of Tesla’s push into vehicle-to-everything energy sharing, and acting as a giant portable charger is the main advantage, as it can provide backup power during outages.
Cybertruck’s Powershare system supports both vehicle-to-load (V2L) and vehicle-to-home (V2H), making it flexible and well-rounded for a variety of applications.
However, even though the feature was promised with Cybertruck, it has yet to be shipped to vehicles. Tesla communicated with owners through email recently regarding Powershare with Powerwall, which essentially has the pickup act as an extended battery.
Powerwall discharge would be prioritized before tapping into the truck’s larger pack.
However, Tesla is still working on getting the feature out to owners, an email said:
“We’re writing to let you know that the Powershare with Powerwall feature is still in development and is now scheduled for release in mid-2026.
This new release date gives us additional time to design and test this feature, ensuring its ability to communicate and optimize energy sharing between your vehicle and many configurations and generations of Powerwall. We are also using this time to develop additional Powershare features that will help us continue to accelerate the world’s transition to sustainable energy.”
Owners have expressed some real disappointment in Tesla’s continuous delays in releasing the feature, as it was expected to be released by late 2024, but now has been pushed back several times to mid-2026, according to the email.
Foundation Series Cybertruck buyers paid extra, expecting the feature to be rolled out with their vehicle upon pickup.
Cybertruck’s Lead Engineer, Wes Morrill, even commented on the holdup:
As a Cybertruck owner who also has Powerwall, I empathize with the disappointed comments.
To their credit, the team has delivered powershare functionality to Cybertruck customers who otherwise have no backup with development of the powershare gateway. As well as those with solar…
— Wes (@wmorrill3) December 12, 2025
He said that “it turned out to be much harder than anticipated to make powershare work seamlessly with existing Powerwalls through existing wall connectors. Two grid-forming devices need to negotiate who will form and who will follow, depending on the state of charge of each, and they need to do this without a network and through multiple generations of hardware, and test and validate this process through rigorous certifications to ensure grid safety.”
It’s nice to see the transparency, but it is justified for some Cybertruck owners to feel like they’ve been bait-and-switched.
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