Kazakhstan Plans For A Nuclear Power Plant To Keep Crypto Mining
Kazakhstan’s president, Kassym-Jomart Tokayev, proposed building a nuclear power plant to sustain the country’s crypto mining growth amidst the energy crisis the country is facing. The suggestion was made during a meeting with bankers on November 19th, following various proposals that aim “to increase the contribution of the domestic financial system to economic development and […]
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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....
The government in Kazakhstan is considering building a nuclear power plant to overcome an electricity deficit allegedly caused by the booming crypto mining industry. Problems with power supply are driving away miners that saw the Central Asian country as a new home when China recently cracked down on the industry. NPP Project Revived Amid Short Supply of Energy for Crypto Mining Sector in Kazakhstan Authorities in Kazakhstan are now thinking of implementing a decade-old plan to construct a nuclear power plant (NPP) in order to solve the country’s pressing issues with a growing....
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....
Let’s imagine a nuclear power plant that integrates bitcoin mining on site. How does its profitability compare to a standard operation’s?
Authorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms and proposed a cap on the power rating of new facilities. Kazakhstan Measures Power Usage in Crypto Mining Sector, Estimates Deficit In an effort to explain why Kazakhstan is considering imposing restrictions on new cryptocurrency mining operations, the Ministry of Energy told local media that data....