Positioning bitcoin mining with carbon-free sources, like nuclear energy, offers enormous benefits to the cryptocurrency industry as digital assets grow in popularity, acceptability, and engagement with the broader economy.
World Nuclear News reports that Cumulus Data, a subsidiary of independent power producer Talen Energy and a maker of zero-carbon data centers, has finished installation on the first building of its nuclear-powered Susquehanna data center site in Pennsylvania.
Cumulus Data says that the 1,200-acre complex will be the first of its type in the United States when it begins hosting bitcoin mining and cloud computing services in the first quarter of 2023.
Bitcoin Mining Goes Nuclear
The data center’s 48-megawatt, 300,000-square-foot powered shell is built, and multiple fiber routes are operational. The data center is powered by a direct link to the Susquehanna nuclear power station, which has a capacity of 2.5 gigawatts.
Nuclear power has the potential to become a significant source of electricity for the bitcoin mining sector.
By providing stable, carbon-free electricity, nuclear reactors will contribute in sustaining the cryptocurrency ecosystem, fostering its expansion, and accelerating the mainstream adoption of bitcoin assets.
A rendering from 2021 of the data center campus next to the Susquehanna power plant (Image: Linxon/World Nuclear News)
Bitcoin mining difficulty jumped 10.26% to a new all-time high of 37.59 trillion on Monday, as some U.S.-based mining enterprises resumed operations after being knocked offline by snow cyclones.
Globally, cryptocurrency mining requires enormous quantities of electricity. According to one analyst, it consumes 77.78 TWh of energy, which is similar to Chile’s energy demand.
Those nuclear power plants that are unable to dispose of 100 percent of their electricity can use the excess energy for crypto mining to aid in the decarbonizing process of the sector, which environmental activists have long clamored for.
Bitcoin Mining Center Ready To Accept Tenants
This year, Cumulus Data CEO Alex Hernandez said the flagship Susquehanna data center site will accept its first subscriber and begin commercial operations.
“We look forward to advancing our goal of solving the energy ‘trilemma’ which we define as the rapidly increasing consumer demand for zero-carbon, low-cost, and reliable electricity by data center customers,” Hernandez said.
Talen Energy announced in 2021 a partnership with the American bitcoin mining company TeraWulf to construct the Nautilus Cryptomine on the site.
TeraWulf stated in a recent update that it was in the in the first phases of kickstarting its mining process and anticipated that the cryptomine would deliver 50-megawatts of total mining output to TeraWulf in the first quarter this year.
Even though it may seem strange to attach a cryptocurrency data center to a nuclear power facility, CO2 emissions and rising electricity costs are becoming extremely important considerations for companies with extensive data center infrastructure.
Nuclear power plants provide a steady, zero-carbon energy source.
BTC total market cap at $445 trillion on the daily chart | Chart: TradingView.com
Nuclear Power & Bitcoin Mining: A Perfect Pair
The unique value proposition for both sectors is made possible by the confluence of surplus and carbon-free, nuclear-generated electricity.
Not only will nuclear reactors develop a new revenue stream by mining cryptocurrency, but they will also assist in decarbonizing an industry and increase bitcoin’s appeal to a large group of institutional investors with environmental, social, and governance aspirations.
Vladimir Galabov, director of cloud and data center research at Omdia, stated:
“Nuclear power has its place in supporting the data center cut its greenhouse gas emissions.”
As the time of writing, Bitcoin is trading at $23,091, up 9.1% in the last seven days, data by Coingecko show.
Featured image from Cryptoslate
Credit: Source link