Positioning bitcoin mining alongside carbon-free sources, such as nuclear energy, dramatically benefits the cryptocurrency sector as digital assets gain popularity and interact with the larger economy.
Nuclear energy may be better able to help. Cumulus Data, a subsidiary of Talen Energy, has finished a data center connected to Pennsylvania’s Susquehanna nuclear power reactor, with intentions to begin hosting Bitcoin mining company TeraWulf this year.
Cumulus Data claims that when it begins hosting bitcoin mining and cloud computing services in the first quarter of 2023, the 1,200-acre facility will be the first of its kind in the United States. Any bitcoin mined at the center will release almost little carbon.
The 48-megawatt, 300,000-square-foot powered data center shell is completed, and numerous fiber lines are operating. The data center is powered by a direct connection to the 2.5 gigatonnes Susquehanna nuclear power facility.
Nuclear power has the potential to become an essential source of energy for the bitcoin mining industry. In addition, nuclear reactors will help to sustain the cryptocurrency ecosystem by supporting its expansion and speeding the public use of bitcoin assets by delivering steady, carbon-free power.
On Monday, the difficulty of mining bitcoin increased 10.26 percent to a new all-time high of 37.59 trillion, as several US-based mining companies restarted operations after being knocked offline by snow storms.
Globally, bitcoin mining necessitates massive amounts of power. One expert estimates that it consumes 77.78 Terawatt hours of energy, comparable to Chile’s energy needs.
Nuclear power plants that cannot dispose of 100 percent of their electricity can use the extra energy to help decarbonize the sector, something environmental campaigners have long advocated for.