Miners BTC facing growing criticism regarding impacts of mining on the environment, turned to nuclear power plants.
BTC miners and nuclear power plants
Bitcoin miners are still looking for ways to take advantage excess energy which would otherwise be unnecessary. That’s why this time they shook hands with operators of needy carbon-free ones nuclear power plants.
This can be a perfect interplay, because nuclear power plants need it more customers amid the growing competition it has cheaper energy sources while BTC miners need exactly what the power plants offer – stable and carbon-free energy, how said Wall Street Journal with reference to “Managers and analysts.”
It can also be a particularly suitable solution for miners, as they continue to face responses to the energy consumption of their plants and environmental impact.
According to news will be in Ohio since the beginning of December mining center Standard Power obtain energy from a nuclear generator from Energy Harbor Corp.
In addition, the company Talen Energy Corp. entered into a joint venture with BTC Mining Company TeraWulf Inc. They started land development next to their nuclear power plant in Pennsylvania for mining equipment that should be sized four football fields.
“We are building demand adjacent to the existing nuclear power plant,” said Alex Hernandez, president of Talen Energy, suggesting that BTC mining is adding a new source of revenue to energy providers in addition to servicing energy networks.
Nuclear projects are partnering with cryptocurrency miners
New nuclear projects are also reportedly targeting cryptocurrency miners. How was it announced in July, Oklo, a California company developing renewable energy power plants, announced 20-year business partnership with the company Compass Mining, an online hardware and hosting marketplace for BTC mining in the United States, to introduce advanced nuclear fission to replenish fossil fuels, and “Promoting the diversity and sustainability of energy resources used by miners”.
Oklo trying to build a special “Microreactors”to avoid huge logistical obstacles to a full-fledged nuclear reactor.
This agreement does not include a fixed price for energy, but Whit Gibbs, CEO of the company Compass, said WSJ that he believes the companies will agree on a price that will allow profitable mining of cryptocurrencies. Jacob DeWitte, co – founder and CEO of the company Oklo, said he had received inquiries from other interested BTC miners, but that federal approval was still required first, which is likely to will not happen until 2023-2025.
Bill Dugan, director of an energy consulting company Customized Energy Solutions, however, concluded that despite expectations of creating more nuclear bonds with BTC they are unlikely to be large enough or fast enough to save many nuclear power plants.
The mayor Francis Suarez meanwhile presents Miami as a place for crypto miners, exchanges and investment firms and also mentioned nuclear power plant owned by the company Florida Power & Light. Negotiations were allegedly held with the company’s representatives, which included the possibility of locating mining equipment near the nuclear power plant and finding cheap land for the construction of warehouses for mining equipment, as said Suarez.