Tuesday, October 19, 2021
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Apparently the new thing in the US

Turkey Point nuclear power plant is supposed to provide energy for Bitcoin mining. (Photo: Felix Mizioznikov / Shutterstock)

In the US, Bitcoin mining companies are increasingly entering into deals with nuclear power plant operators. They promise climate-friendly energy – and hope to attract lucrative customers.

Bitcoin is repeatedly criticized for its high power consumption. Mining and transactions via Bitcoin should consume as much energy as the Netherlands annually. All the worse for the environment if – as is currently happening in the USA – a Bitcoin mining startup buys coal-fired power plants in order to generate the electricity required for mining.

There is another way, as some examples from the USA show. Bitcoin mining companies there are increasingly relying on nuclear power.

Nuclear power plants rely on Bitcoin miners

As the Wall Street Journal (WSJ) reports, this has some advantages to begin with. On the one hand, miners of cryptocurrencies such as Bitcoin get the electricity they need – and in comparison to electricity from coal-fired power plants, it is also relatively environmentally friendly. The operating companies of the nuclear power plants, which are struggling with cheaper competition on the US electricity market, could thus reach customers who are willing to pay. Of course there is also criticism. After all, nuclear power is only partially CO2-neutral and is also highly problematic because of the accumulated nuclear waste and possible accidents.

Nevertheless, nuclear power plants have been targeting Bitcoin mining companies for a long time – not least because of the establishment of new mining capacities after the mining ban in China. For example, a data center is to be built in a nuclear power plant of the energy supplier Talen Energy in the US state of Pennsylvania, which is to be especially suitable for crypto mining and hyperscale computing – fed with nuclear power.

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Miami: Mayor promotes nuclear power plant

The Mayor of Miami, Francis X. Suarez, is once again showing his heart for the crypto community. As early as the end of 2020, Suarez had brought his city into play as a potential new hotspot for crypto mining. Now he has proposed Bitcoin miners to settle in South Florida, near the Turkey Point nuclear power plant. In this way, Miami’s mayor told the WSJ, the current concerns about the lack of environmental friendliness of Bitcoin could be dispelled.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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