Tuesday, July 13th 2021

Crypto Goes Nuclear: Pennsylvania and Ohio to be Home to Nuclear-Powered Cryptomining

by
Raevenlord
 Discuss (101 Comments)
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

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101 Comments on Crypto Goes Nuclear: Pennsylvania and Ohio to be Home to Nuclear-Powered Cryptomining

#76
moproblems99
Solidstate89No it's not.
Care to elaborate? Because blockchains have other applications than crypto.
Posted on Reply
#77
R-T-B
moproblems99Care to elaborate? Because blockchains have other applications than crypto.
I don't think he's thought about it much.
Posted on Reply
#78
moproblems99
R-T-BI don't think he's thought about it much.
Pretty sure it's because he/she can't play the newest PowerWash Simulator game with his/her current GPU so he/she has to lash out.
Posted on Reply
#79
Zareek
moproblems99I never realized that cyber crime couldn't flourish before crypto! Thanks for bringing that to the forefront of the world.

Amazing such a simple endeavor of banning crypto would stop world cyber crime!
No one ever made that claim, it has just made it a lot easier to get paid and not get caught. Investigators used to follow the money trail. Cryptocurrency has made that nearly impossible.

Well, maybe someone made that claim, but I didn't.
Posted on Reply
#80
moproblems99
ZareekNo one ever made that claim, it has just made it a lot easier to get paid and not get caught. Investigators used to follow the money trail. Cryptocurrency has made that nearly impossible.

Well, maybe someone made that claim, but I didn't.
Hmmm, pretty sure the US proved the money is recoverable, though I don't believe a word they say.

And if you could follow the money trail: Organized crime wouldn't exist. Ask Jimmy Hoffa.
Posted on Reply
#81
The Von Matrices
No way this is going to happen. Of all the arguments that can be made for or against this, there is only one that matters - price. Nuclear power is way too expensive - tens of billions of dollars of capital to construct a new plant that produces electricity that is more expensive than renewables. All that matters for cryptocurrency miners is price of electricity, and (unsubsidized) new nuclear power cannot provide electricity cheaper than renewables let alone grid electricity.
Posted on Reply
#82
R-T-B
The Von MatricesNo way this is going to happen. Of all the arguments that can be made for or against this, there is only one that matters - price. Nuclear power is way too expensive - tens of billions of dollars of capital to construct a new plant that produces electricity that is more expensive than renewables. All that matters for cryptocurrency miners is price of electricity, and (unsubsidized) new nuclear power cannot provide electricity cheaper than renewables let alone grid electricity.
Someone didn't read the article.

1.) No new plant, they are purchasing an existing one by shares of capacity, slowly.

2.) It's already happening.
Posted on Reply
#83
Hargema
People to government: Please build nuclear reactors for green and much more affordable energy to light up our homes and cities
Government: No, too dangerous, also too expensive, just pay your bills, nothing can be done about it

Government when it understands cryptomining and believes it will be lucrative

Okay we are building one right now to meet our huge cryptomining demand lol
Posted on Reply
#84
Stimer111
World need a brain.

Only crypto can bring to world transparent data in time, from milk farm to particle acc.
all these things need to be paid fair and had visible data in, out.
NFT, Coins , ...creating better world just now.

I dream about ranch/farm selling milk, bread and butter only for crypto, no more usd,eur...
Value covered by food value will be always fair.

Jan
HargemaPeople to government: Please build nuclear reactors for green and much more affordable energy to light up our homes and cities
Government: No, too dangerous, also too expensive, just pay your bills, nothing can be done about it

Government when it understands cryptomining and believes it will be lucrative

Okay we are building one right now to meet our huge cryptomining demand lol
Is there any bank which borrow money for crypto farms ?
Posted on Reply
#85
Solidstate89
RaevenlordYou'll remember this comment when your entire life lives in a blockchain - from democratic voting, to payments, bank accounts, taxes, and even your very own personal token.

I'll be laughing when we're all being sold and bought in the blockchain.



I agree with you. I never wrote that ALL mining would turn green from this.

But it IS relatively easy for crypto to turn green. Algorand, for example, is even carbon negative.
How's that crypto still looking? Wow, what a bright and amazing future. From the time you made this post to today over $2.3 billion in crypto garbage has been hacked, rug pulled and grifted from people.

Boy I sure wish my bank account was on the blockchain.
Posted on Reply
#86
zlobby
Solidstate89How's that crypto still looking? Wow, what a bright and amazing future. From the time you made this post to today over $2.3 billion in crypto garbage has been hacked, rug pulled and grifted from people.

Boy I sure wish my bank account was on the blockchain.
But when the govt. does it is all fine?
Posted on Reply
#87
Solidstate89
zlobbyBut when the govt. does it is all fine?
Lol when did the government launch a fake speculative asset and grift a bunch of people out of their money?
Posted on Reply
#88
zlobby
Solidstate89Lol when did the government launch a fake speculative asset and grift a bunch of people out of their money?
Well, this deserves another wall of text on its own. Short version - it did happen in some countries around the world.

Plus, even the 'mighty' US dollar is extremely speculative asset. Let's not even get started on bonds and such.
Posted on Reply
#89
Vayra86
zlobbyWell, this deserves another wall of text on its own. Short version - it did happen in some countries around the world.

Plus, even the 'mighty' US dollar is extremely speculative asset. Let's not even get started on bonds and such.
The US dollar is tied to a real economy. Stock markets, etc. It represents actual assets, people doing work, etc.

Its not speculative.
Posted on Reply
#90
TheoneandonlyMrK
Solidstate89How's that crypto still looking? Wow, what a bright and amazing future. From the time you made this post to today over $2.3 billion in crypto garbage has been hacked, rug pulled and grifted from people.

Boy I sure wish my bank account was on the blockchain.
You got a figure for fiat or has none been stolen.
Vayra86The US dollar is tied to a real economy. Stock markets, etc. It represents actual assets, people doing work, etc.

Its not speculative.
Yes it is, Forex ?!.
Posted on Reply
#91
Vayra86
TheoneandonlyMrKYou got a figure for fiat or has none been stolen.

Yes it is, Forex ?!.
It can be speculative, but always tied to a real economy.

Crypto is not. Its tied to crypto
Posted on Reply
#92
R-T-B
Vayra86Crypto is not. Its tied to crypto
It USED to be tied to the crypto economy, but high fees killed that. Now it is nearly 100% speculative. I can't even picture criminals using bitcoin with its fees. It's nuts.

The dream is dead, sadly.
Posted on Reply
#93
Vayra86
The Von MatricesNo way this is going to happen. Of all the arguments that can be made for or against this, there is only one that matters - price. Nuclear power is way too expensive - tens of billions of dollars of capital to construct a new plant that produces electricity that is more expensive than renewables. All that matters for cryptocurrency miners is price of electricity, and (unsubsidized) new nuclear power cannot provide electricity cheaper than renewables let alone grid electricity.
Hi. Welcome to 2022

Here is the current status in Netherlands

www.world-nuclear-news.org/Articles/Nuclear-makes-a-comeback-in-the-Netherlands

And it is happening... planning stages underway.

Meanwhile, data centers are planned or built left and right. Crypto or cat pics... you tell me which one will be more profitable... and whether it even matters :(
Posted on Reply
#94
medi01
Such power plants costs billions.

It is shocking that there are people ready to risk billions on crypto bazinga (which literally ALL Nobel laureates in economics ever asked classified as financial bubble).

On the other hand, US power consumption is only going to raise, and raise substantially, so, perhaps it's just an unrelated event of a power plan being built and cryptobazinga being promoted.
Posted on Reply
#95
R-T-B
medi01which literally ALL Nobel laureates in economics ever asked classified as financial bubble
It's actually a lot more mixed. You'd be surprised some of the big names hailing crypto as the future.
medi01just an unrelated event of a power plan being built and cryptobazinga being promoted.
It's funded by a crypto group.
Posted on Reply
#96
zlobby
R-T-BIt's actually a lot more mixed. You'd be surprised some of the big names hailing crypto as the future.
Crypto IS the future. Well, maybe not Bit and Doge coins, but certainly something like DeFi.
Posted on Reply
#97
R-T-B
zlobbyCrypto IS the future. Well, maybe not Bit and Doge coins, but certainly something like DeFi.
I used to think that. Might still be too, hard to say. But my faith has been shaken a bit.
Posted on Reply
#98
zlobby
R-T-BI used to think that. Might still be too, hard to say. But my faith has been shaken a bit.
It is inevitable. Sad part however is that 'open' blockchains didn't get quite the traction, and now banks and governments will force their closed cryptos on us. Now, that will be bad.
Posted on Reply
#99
R-T-B
zlobbyIt is inevitable. Sad part however is that 'open' blockchains didn't get quite the traction, and now banks and governments will force their closed cryptos on us. Now, that will be bad.
Yeah, basically what I see happening too.
Posted on Reply
#100
Vayra86
zlobbyIt is inevitable. Sad part however is that 'open' blockchains didn't get quite the traction, and now banks and governments will force their closed cryptos on us. Now, that will be bad.
And then in hindsight a lot of brainy nerds will be thinking 'we shouldnt have...'

History repeats
Posted on Reply
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