That size bag holds about one ton of soil. It might be good for foundation work, but would need to be filled at the place where it would be used. Most bags used for earthbag construction range in the 16-20 by 24-30 inch size and are about 5-6 inches thick when filled and tamped.
If I were to use those bags, I would use them on the lowest levels and fill them with gravel to form the foundation, then use a smaller bag to make the rest of the wall.
You might want to check out this blog and the associated site, as it is full of good earthbag building information:
http://earthbagbuilding.wordpress.com/