Sunday, June 16, 2024

Bitcoin miners are looking to nuclear power for long-term energy

GRIID vice president Harry Sudok recently made public comments about the viability of using nuclear energy for bitcoin mining. Proving electrical power for mining operations is a widespread problem in the crypto world. Many regulatory authorities have used this argument to push for a ban on crypto. However, the scenario is gradually changing with the rise of Proof of Stake (PoW) validation and green mining operations. Some companies are even providing monetary compensation in an attempt to push carbon offset.

Alternate power options have long been considered for mining operations. While there are technological limitations to solar, wind, or thermal power, the possibilities are endless with nuclear power. That’s what Harru Sudok pushed for at the ‘Bitcoin & Beyond Virtual Summit’. Sudok mentioned the pros of nuclear energy when compared to alternative eco-friendly options. However, he did not fail to acknowledge that as a society, we are averse to using nuclear power for commercial or domestic purposes. Their application seldom leaves technological frameworks and research facilities. It is surprising in some aspects since nuclear power is an immense source of power. It is way cheaper to produce than geothermal or solar energy, and can deliver much more power.

The fear of using nuclear power stems from past mishaps and accidents. If a disaster strikes and a wind power plant, the repercussions would be moderate. However, a small mishap in a nuclear power plant can destroy entire cities and countries, as we saw with the 1984 Chernobyl disaster. Any move towards incorporating nuclear power in bitcoin mining must be dealt with care and caution.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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