Bitcoin miners look toward nuclear power for sustainable energy
Several major players say that nuclear energy might be the best choice for Bitcoin miners. Major players in the Bitcoin (BTC) mining industry have their sights set on nuclear energy as pressure mounts to go green. Nuclear energy could present a “tremendous opportunity” to introduce “enormous amounts of clean, carbon-free” energy to the base load, said GRIID vice president Harry Sudok at the ‘Bitcoin & Beyond Virtual Summit’ on Nov. 10. GRIDD is an American company that procures low-cost, renewable energy to build vertically-integrated Bitcoin mining facilities. According to Sudock, past....
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The country saw a great influx of miners this year, but it might have to sacrifice the immense tax revenue from Bitcoin miners if power grid issues are not resolved. The exodus of Bitcoin miners from China into Kazakhstan has contributed to an energy crunch that the central Asian country’s president has proposed solving with nuclear energy.Kazakhstan’s Ministry of Energy has attributed the 8% increase in domestic electricity consumption throughout 2021 to Bitcoin miners. The country received at least 87,849 Bitcoin mining machines from Chinese companies so far this year following China’s....
According to the Bitcoin Mining Council, the global Bitcoin mining industry now uses 56% sustainable energy. The global Bitcoin mining sector has reached a 56% sustainable power mix in Q2, according to estimates from a Bitcoin Mining Council (BMC) report. “Bitcoin mining uses a negligible amount of energy, is rapidly becoming more efficient, and is powered by a higher mix of sustainable energy than any major country or industry,” a July 1 press release from the council stated. The estimate was based on a three question survey of just 32% of the miners on the network. It found respondents....
The latest Q2 report also details how energy efficiency among Bitcoin miners is on the rise. Nearly 60% of the electricity used to power Bitcoin mining machines comes from sustainable sources, according to the latest Q2 2022 report from the Bitcoin Mining Council (BMC).In its Q2 review of the Bitcoin network released on July 19, the BMC found that the global Bitcoin mining industry's use of sustainable energy is up 6% from Q2 2021 and up 2% from Q1 2022, reaching 59.5% in the latest quarter — adding that it is “one of the most sustainable industries globally.”The council observed the....
Ukraine’s government-owned nuclear power plant picked a firm to build a massive data center in Rivne for cryptocurrency mining operations. After a bidding process, Energoatom chose Kyiv Energy Construction Company to handle the nuclear plant crypto mining project. Nuclear Power Plant Operator Expects to Launch the Data Center in 2022 According to official documents, the data center will be based in the Rivne nuclear power plant, after the construction firm got 8.92 million Hryvnia ($317,620) in funding. The only competitor in the bidding was Ukrenergobudproek. However, they allegedly....
Recent reports show that Bitcoin mining uses great amounts of renewable energy due to economic incentives. This turn of events raised their numbers of sustainable power mix to almost three times higher than the world average. As renewable energy offers low costs, bitcoin miners, who had to spend 68.42% of their total income to purchase electricity, have upscaled their efficient use of green energy. A recent data review shows how their mix of sustainable energy is higher than any country or industry. Renewable energy is not flexible and their locations do not tend to be convenient for most....