Bitcoin Miners partnering with Nuclear Power plants

Following the concerns of the environmental impact of Bitcoin mining, miners have started partnering with nuclear power plants.

One such partnership is a joint venture between Talen Energy and bitcoin mining company TeraWulf Inc. The miner started developing infrastructure right next to a Pennsylvania nuclear plant operated by Talen.

“We are building demand adjacent to the existing nuclear plant,” said Talen Energy President Alex Hernandez.

According to Mashable, Bitcoin mining requires high-powered computer processors to solve advanced mathematical equations. When these math problems are solved, Bitcoin miners receive the cryptocurrency in exchange. This process helps maintain the cryptocurrency’s digital ledger, known as the blockchain.

The more computing power one has, the more equations a miner can solve and earn more Bitcoin in the process. The process is so intense that individuals can’t earn Bitcoin based on the computer power already accessible to them. Many miners purchase thousands upon thousands of dollars worth of equipment to mine Bitcoin, and even then, only these multi-million dollar operations can mine enough Bitcoin to make the process profitable.

According to The University of Cambridge’s Bitcoin electricity consumption index, it is estimated that Bitcoin miners are using around 130 Terawatt-hours of energy (TWh).

Related Posts