Bitcoin Mining Could Save US Nuclear Power Plants

Bitcoin could save two nuclear power plants in the United States, which are going through a delicate time in their business in the energy sector.

Energy production with nuclear technology is considered green by the market, since there is no emission of greenhouse gases. However, this industry faces competition from the sector of natural gas plants and renewable sources such as wind and solar panels.

Some plants in the United States have even shut down reactors due to competition in the market, but a digital light appears so that the market returns to operating at full capacity.

Last July, a mill in Ohio signed a five-year contract for Bitcoin mining, showing that this activity could be interesting in the long term.

Can Bitcoin Mining Save US Nuclear Power Plants?

According to the Pittsburgh Post-Gazette, a major Pennsylvania media outlet, Bitcoin mining may be the solution needed to keep US nuclear power plants from going out of business.

Industry entrepreneurs are looking to lure companies that mine Bitcoin into the country, including two plants in Pennsylvania, which have too much green energy to offer those companies.

As nuclear energy does not emit greenhouse gases it is considered zero carbon, which would solve Bitcoin problems associated with the environment, such as accusations of pollution in mining, for example.

Last week, Talen Energy announced a deal with TeraWulf Inc., a Maryland cryptocurrency mining company. Thus, a giant Bitcoin generation plant will be installed alongside a reactor company in northern Pennsylvania.

The first phase of this large project was named “Nautilus Cryptomine” and is expected to cost around R$ 2 billion (approximately US$ 400 million) to start operating.

“Symbiosis” is interesting to both sectors

An eventual symbiosis between US nuclear power plants and Bitcoin mining is beneficial to both sectors, the local publication pointed out.

For energy producers, they provide an outlet for their production, which has encountered consumption difficulties with their competitors.

But for Bitcoin miners, cheaper energy, predictable sources of supply and a green energy certificate, something the industry has come under pressure in recent months.

For John Kotek, vice president of the Nuclear Energy Institute, the sector is prepared to receive the miners.

“Nuclear power is uniquely positioned to power cryptocurrency mining companies and other major energy users who are committed to a carbon-free future.”

Nuclear energy entrepreneurs see in cryptocurrencies a way to adopt their energy on a large scale, since the consumption required for the operation of the Bitcoin network is large and should grow.

Despite community enthusiasm for this possibility, the US Senate is considering creating tough rules for Bitcoin mining, which could derail these plans.