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    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    BlockFi files for bankruptcy after FTX collapse

    BlockFi files for bankruptcy after FTX collapse

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Solana’s Phantom wallet opens to Ethereum and Polygon

    Vladimir Putin predicts a blockchain-based international payment system

    Vladimir Putin predicts a blockchain-based international payment system

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    How do Web3 and NFTs enrich the live music experience?

    How do Web3 and NFTs enrich the live music experience?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    SOL down 96.5% since its ATH: Will the Solana blockchain survive FTX?

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    The Human Rights Foundation funds the Bitcoin ecosystem (BTC) with $325,000

    What is flipping in crypto?

    What is flipping in crypto?

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

    Waltio outlines strategy to reduce its taxation on cryptocurrencies

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    Paxos offers $1.5 billion deal to MakerDAO for DAI collateralization

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Soon “nuclear bitcoin” in the United States

July 22, 2021
in News
Soon “nuclear bitcoin” in the United States

Energy Harbor will supply electricity from its nuclear power plants to Standard Power’s future bitcoin mining (BTC) facility. The release speaks volumes about the environmental pressure the mining industry is under today.

Decarbonized Bitcoin in Ohio

Power producer Energy Harbor announced in a July 12 release its partnership with bitcoin mining infrastructure provider Standard Power. Energy Harbor uses both nuclear and fossil fuels.

Standard Power will turn an abandoned paper mill in Coshocton, Ohio, into a mining farm that will be powered by energy from its partner’s nuclear plants. The mining project will begin in December 2021.

The U.S. Department of Energy had reported that a nuclear power plant produces an average of 1 gigawatt of electricity, while the largest plant in the U.S. in Arizona, Palo Verde, produces 3.99 gigawatts.

Bitcoin power plants to please Elon Musk

Standard Power CEO Maxim Serezhin emphasized the green nature of the mining facility:

“By partnering with Energy Harbor, we have proactively structured our hosting capabilities to ensure that 100 percent of the energy associated with this facility is carbon-free.”

Energy Harbor CEO John Judge also emphasized the efforts undertaken for clean, environmentally friendly bitcoin mining:

“We are pleased to partner with customers who are working to minimize their impact on the environment, while fostering a new clean energy future in our local Ohio economy.”

Leaders of major mining companies now seem to feel a sense of accountability to the public for using decarbonized or renewable energy. Elon Musk has been shaking up the industry since he did an about-face when he decided to reject Bitcoin as a means of payment for the purchase of Tesla vehicles. The billionaire cited environmental concerns at the time.

While nuclear-powered mining could pave the way for non-polluting Bitcoin mining, the costs of erecting such a plant is a deterrent to entry for such a project. According to a June 8 Wall Street Journal article, the construction costs for Vogtle’s nuclear power units in Waynesboro, Georgia, came to more than $25 billion.

This South Korean institute even goes so far as to use excrement to mine clean Bitcoin. Elon Musk’s criticism may ultimately serve Bitcoin’s interests, as it is demonstrating under pressure that its mining is much greener, contrary to the ideas of its critics.

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