Cryptocurrency: Miners to Build New Clean Safe Nuclear Power Plants Soon, Solar, Geothermal, Etc

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Nuclear-Powered Crypto-Mining To Begin In Pennsylvania Next Year

Amid the heated debate over Bitcoin's environmental impact in the
mining space, nuclear power could be the perfect renewable energy
source to power mining operations.

It's no secret that bitcoin mining takes a massive amount of
electricity. It's estimated that energy consumption exceeds the power
consumption of countries like the Netherlands and the UAE.

With the push towards ESG-Friendly bitcoin mining operations, US power
company Talen Energy has been given the green light to mine
cryptocurrencies using nuclear power from Susquehanna Steam Electric
Station based in Allentown, Pennsylvania, according to Datacenter
Dynamics.

A spokesperson for Talen said Cumulus, a subsidiary of Talen Energy,
has two separate businesses: Cumulus Data, focused on hyperscale data
center; and Cumulus Coin, focused on digital currency mining.

    "As the demand for energy increases among data center and
cryptocurrency processing clients, so does the call for decarbonizing
these energy sources. Talen Energy is constructing a hyperscale data
center campus adjacent to its Susquehanna nuclear generation
facility," read a company presentation. "It will provide low-cost,
reliable, carbon-free power to the data center clients on campus. This
allows clients to benefit from carbon-free, 24/7 power being supplied
directly to the campus, without the intermittency that renewable
energy can experience, or requiring fossil fuels."

Here's the layout of the nuclear-powered cryptomining facility
adjacent to the power plant. The mining facility could be open as
early as the first half of 2022.

Tesla CEO Elon Musk has been at the forefront of pushing mining
operations into using "renewable energy" instead of fossil fuels. The
issue behind crypto space is that computational power available to
mine requires an enormous amount of energy.

Days ago, a historic hydroelectric plant near Albany, New York,
decided to begin cryptomining than selling its power to the grid
because it could make more money.

El Salvador has pitched miners of the world to flood the Central
American country to embrace "cheap 100% clean, 100% renewable, 0
emissions" energy from a state-owned geothermal electric company that
is powered by a volcano.

The "greening" of Bitcoin also comes amid China's crackdown on miners,
resulting in the hash rate —the computational power available to mine
the cryptocurrency, reflecting the efficiency of the bitcoin
blockchain network, plunging since mid-May.

Nuclear-powered cryptomining could be the top "ESG-friendly" energy
source that the crypto community and tech billionaires have been
searching for. This could be a positive for uranium stocks.