In the past few years, the rising climate of cryptocurrency has played a notable role in financial operations. More individuals are seeing that bitcoin serves as a store of value and are allocating a portion of their value to this asset. They are not only only doing so for bitcoin but with other digital assets as well. This is far from a surprise as individuals are seeking to increase their value over time. But despite all the benefits of bitcoin, there has been claims that it is contributing to global warming.
Now whether this is true or not, bitcoin miners look for ways to remove or negate these carbon emissions. It is no surprise that the multi-billionaire Elon Musk has suggested nuclear energy to be an alternative source for bitcoin mining.
But others offer solutions as well.
Energy Harbor Corp and Where It Stands
The Ohio-based energy company Energy Harbor Corp has announced plans to provide nuclear energy to a new bitcoin blockchain center in Ohio starting from December 2021.
A 20-year commercial partnership is established between the micro nuclear reactor company Oklo. Oklo will perform mining activities using zero carbon emission nuclear energy.
The co-founder of Oklo, Jacob DeWitte, further explains how the bitcoin miners and modern circular energy are drawn towards the idea of clean energy.
In the first phase of partnership with the firm, the Ohio-based nuclear energy company promised to supply 150 megawatts of clean power. This energy is enough for the newest model of bitcoin mining processors. Not only power plants, but the company also aims to move towards new energy conservation projects.
Talen Nuclear Energy
Talen Energy has announced plans to develop a cryptocurrency mining facility in the second half of 2022.
Musk and his Involvement
Elon Musk has stopped accepting bitcoin payments for its electric vehicles to cut down on the carbon emissions in the environment. He further explained how bitcoin miners could efficiently use wind and solar power as a reliable and clean energy source.