Nuclear power and cryptocurrency mining: A perfect match?

December 22, 2021, 3:00PMNuclear NewsFlorent Heidet and Milos Atz

Cryptocurrency ecosystems are rapidly growing and are here to stay. Cryptocurrencies are regularly among the 10 largest traded volumes in financial markets, more and more businesses are accepting crypto payments, and crypto “ATMs” are starting to appear at gas stations and grocery stores. However, cryptocurrencies face one major impediment to widespread public acceptance: energy consumption. Opponents of cryptocurrency often cite its energy and pollution footprints as major reasons against adoption. Energy issues have been tied to significant losses in valuation for the major cryptocurrencies, contributing to volatility in that sector. Although crypto valuations have been quick to recover, the energy and pollution challenges remain.

To continue reading, log in or create a free account!

Related Articles

Consortium debuts new design for U.K. SMR

May 26, 2021, 12:00PMNuclear News

The UK SMR consortium last week revealed the latest design and power upgrade—from 440 MW to 470 MW—for its proposed small modular reactor. According to the consortium’s lead company,...

The cost of unreliability

October 13, 2020, 12:00PMANS News

In the September issue of Nuclear News, I asked if you’ve ever wondered why nuclear isn’t commonly considered the choice for clean power production. In that column and in August’s, I...