Tuesday, July 13th 2021
Crypto Goes Nuclear: Pennsylvania and Ohio to be Home to Nuclear-Powered Cryptomining
Crypto is going nuclear in the not so distant future, as US company Talen Energy revealed plans to construct a cryptomining data center in the immediate vicinity of the Susquehanna Steam Electric Station in Pennsylvania. Initial power consumption of the installation is expected to settle around 164 MW, with that figure climbing up to 300 MW once the infrastructure is complete - powered by dual 1+GW nuclear units and two independent substations. Talen Energy estimates maximum on-site power in the order of 1 GW.
The idea is to begin a narrative reversal around the environmental cost of cryptocurrency mining - if power is provided by cleaner technology, cryptocurrency mining's carbon footprint is bound to be reduced, in turn increasing attractiveness for environmentally-conscious businesses. Elon Musk, for one, made waves in both news outlets and cryptocurrency markets (and value) when he announced the decision for Tesla to cancel acceptance of Bitcoin as payment for its vehicles, citing environmental concerns regarding power sources keeping Bitcoin's blockchain secure. Another company, Energy Harbor Corp, announced a five-year collaboration with Standard Power to power its Bitcoin blockchain mining center in Coshocton, Ohio, starting December this year.
Love it or hate it, blockchain technology is going nowhere - it's one of the most important, fundamental and transformational technologies in recent decades. much like nuclear power (and nuclear weapons, for that matter) weren't loved by everyone at the technologies' introduction (and still aren't loved by everyone), so does the future contemplate blockchain technology irrespective of our own personal opinion on the matter. It was only a matter of time before crypto went nuclear - and for a technology that consumes more power than several countries combined, the change to more sustainable, less carbon-.intensive technologies surely is a welcome one.
Source:
TechSpot
The idea is to begin a narrative reversal around the environmental cost of cryptocurrency mining - if power is provided by cleaner technology, cryptocurrency mining's carbon footprint is bound to be reduced, in turn increasing attractiveness for environmentally-conscious businesses. Elon Musk, for one, made waves in both news outlets and cryptocurrency markets (and value) when he announced the decision for Tesla to cancel acceptance of Bitcoin as payment for its vehicles, citing environmental concerns regarding power sources keeping Bitcoin's blockchain secure. Another company, Energy Harbor Corp, announced a five-year collaboration with Standard Power to power its Bitcoin blockchain mining center in Coshocton, Ohio, starting December this year.
101 Comments on Crypto Goes Nuclear: Pennsylvania and Ohio to be Home to Nuclear-Powered Cryptomining
At least it's real and used to be backed by gold which is really mined lol
There are no words....
It also wastes limited fresh water for cooling.
Meanwhile this is when/why crypto in its current form will rapidly die - if they push ahead on it which seems likely, much like our coming Green Deal.
www.ecb.europa.eu/paym/digital_euro/html/index.en.html
Might not even utilize blockchain at all. Ease of use combined with non volatility and properly backed is the only way any currency can actually be called currency.
And @moproblems99 fiat is backed by real world insitutions that are accountable. Central banks and companies that represent or hold actual capital, in the shape of what they contribute to an economy and society. Crypto is backed by faith it might someday change the world ;)
And also: which is worse destroying hundreds of acres of greenery that absorbs co2 while polluting with co2 while you are doing it or just hashing a block?
Let's not forget how many gold mining operations catch gold with mercury and then force their workers to sort it while swimming in mercury laced water. I am so glad mining is so environmental!
Complete delusion.
While I support nuclear power, I don't support wasting energy! Mining using nuclear power is just as wasteful as using any other power source.
Amazing such a simple endeavor of banning crypto would stop world cyber crime!
Blockchain is a world changing tech for those who understand its capabilities, which extend far beyond printing bitcoins.
You are looking at one negative feature that affects us, and failing to see the overall picture.How? I mean its just serial numbers on paper at it's heart too. The only thing making it "real" is the same thing that makes bitcoin real.
Trust, in respective markets.