First nuclear-powered Bitcoin mine to start operations in US this year
Mining is crucial for Bitcoin as it is the only method to generate new coins of the cryptocurrency. To generate a new Bitcoin token, users solve complex mathematical puzzles, and the first to provide the correct answer is awarded the newly generated crypto coin. Called the Proof of Work system, the process is commonly referred to as mining, and the users involved in solving the puzzle are called miners.
Over the years, the puzzles have become more difficult to crack, and miners have dedicated greater computational resources in their bid to earn the coveted new coin. This, in turn, has increased the power consumption of the Bitcoin industry, making it less sustainable than beef farming, and it is estimated to have emitted 86.3 million tons of carbon in 2022 alone.
No carbon nuclear power
As renewable sources of energy are getting cheaper, mining operations are increasingly being built closer to solar, hydro, and wind energy farms. However, a major portion of the mining operations continues to be powered by carbon-emitting sources of energy.
The Cumulus Data Center built in the 1,200-acre campus in Pennsylvania is connected to the 2.5 GW Susquehanna nuclear power station and will soon host the mining operations of TeraWulf, making it the first nuclear-powered Bitcoin mine in the U.S.
This will bring down carbon emissions from TeraWulf’s operations, and other mining companies are also expected to follow suit in the near future. Miami, which is also home to nuclear power, is also looking to attract crypto miners with its pro-crypto policies, the CNET report added.