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A nuclear-powered Bitcoin mining facility set to open in the U.S.

The increasing popularity and acceptance of digital assets like bitcoin in the broader economy has led to a growing interest in carbon-free sources of energy for mining these currencies. This is where nuclear energy comes in as a solution. Nuclear energy is a zero-carbon energy source that can be used to power bitcoin mining operations, providing enormous benefits to the cryptocurrency industry.

According to World Nuclear News, Cumulus Data, a subsidiary of independent power producer Talen Energy and a maker of zero-carbon data centers, has completed the installation of the first building of its nuclear-powered Susquehanna data center site in Pennsylvania. The 1,200-acre complex is set to become the first of its kind in the United States when it starts hosting bitcoin mining and cloud computing services in the first quarter of 2023.

This move to nuclear energy is a step towards making bitcoin mining more sustainable and environmentally friendly. It also aligns with the growing trend of companies and industries moving towards cleaner and renewable sources of energy. Using nuclear energy to power bitcoin mining also has the potential to bring down the costs associated with mining, making it more accessible to a wider range of individuals and organizations.

Bitcoin Mining to go Nuclear

Cumulus Data has completed the construction of the first building of its nuclear-powered Susquehanna data center site in Pennsylvania. The data center is powered by a direct link to the Susquehanna nuclear power station, which has a capacity of 2.5 GW and a 48MW, 300,000 sq. ft powered shell. It also has multiple fiber routes that are operational. Nuclear power has the potential to become a significant source of electricity for the bitcoin mining sector. By providing stable, carbon-free electricity, nuclear reactors can contribute to the sustainability of the cryptocurrency ecosystem, foster its expansion, and accelerate the mainstream adoption of bitcoin assets.

Bitcoin mining difficulty jumped 10.26% to a new all-time high of 37.59 trillion on Monday, as some U.S.-based mining enterprises resumed operations after being knocked offline by snow cyclones. Cryptocurrency mining requires enormous quantities of electricity globally. According to one analyst, it consumes 77.78 TWh of energy, which is similar to Chile’s energy demand. Nuclear power plants that are unable to dispose of 100 percent of their electricity can use the excess energy for crypto mining to aid in the decarbonizing process of the sector, which environmental activists have long clamored for.

Nuclear energy and Bitcoin mining: A harmonious future

The unique value proposition for both sectors is made possible by the confluence of surplus and carbon-free, nuclear-generated electricity.

Not only will nuclear reactors develop a new revenue stream by mining cryptocurrency, but they will also assist in decarbonizing an industry and increase bitcoin’s appeal to a large group of institutional investors with environmental, social, and governance aspirations.

 


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Udit Agarwal

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Udit Agarwal

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