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25 July 2021

Is Nuclear Power The Future Of Bitcoin Mining?

Is Nuclear Power The Future Of Bitcoin Mining?

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As the bitcoin mining industry grapples with criticism over its energy use, nuclear power is emerging as its source of the future.

In Ohio, in what the companies are calling a “groundbreaking climate-friendly agreement,” Energy Harbor and Standard Power are partnering to provide nuclear power to a new bitcoin mining center in Coshocton.

Compass Mining has seemingly leapfrogged the competition, skipping the nuclear reactor step and going straight to nuclear fission in a 20-year agreement with California-based advanced fission company Okla to mine bitcoin with nuclear power.

It also appears that the stage is being set for nuclear-powered bitcoin mining in Wyoming, which is partnering with Bill Gates’ TerraPower to build a “modular” new nuclear reactor to help reduce the state’s dependence on fossil fuels.

According to TerraPower, its new modular reactor, called a Natrium, is the next stage of advanced nuclear power technology and will guarantee reliable, cheap power for future bitcoin miners.

In the end, mining companies are looking for the cheapest energy available and it may be that nuclear power will become one of the most inexpensive sources in the years to come.

Mining consultant and cofounder of Citadel 256 Magdalena Gronowska believes that ultimately, a mix of renewables like wind and solar power along with nuclear power will be a best case scenario

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