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Ukraine is considering the use of nuclear power plants for cryptocurrency mining

May 6, 2020

Cryptocurrency mining is a contemporary and efficient way to use excess energythe Ukrainian Ministry of Energy argued in a statement posted on Facebook on May 6. According to the post office, Local nuclear power plants generated the surplus due to the quarantine by COVID-19.

The course on digitization

The office is now trying to implement advanced solutions to prevent energy waste as part of the government’s digitalization course championed by President Volodymyr Zelensky.. If the situation remains unchanged, “conditions can be created for corruption crimes that will ultimately be paid for at the expense of Ukrainian citizens,” the ministry warns.

Crypto mining could in turn be one of the efficient solutions, continues the contribution:

“There is a way to transfer this ‘liability’ to an ‘asset’. One of the modern approaches to using excess electricity is to dedicate it to crypto mining. This would not only maintain the guaranteed utilization of nuclear power plants, but also ensure that companies can attract additional funds, which would pave the way for a fundamentally new economy, new approaches and a new market model. ”

Ukraine is considering the use of nuclear power plants for cryptocurrency miningUkraine is considering the use of nuclear power plants for cryptocurrency mining

As reported by a Russian-language media company about cryptocurrencies, Forklog launched on May 5th The acting head of the Ukrainian Ministry of Energy asked the state-owned company Energoatom to investigate possible ways of using cryptocurrencies on the country’s nuclear power plants by May 8.

A potentially profitable company?

Power plants have been used for crypto mining previously, but not on a government scale. As Cointelegraph reported in March, a private power plant in the Finger Lakes region of New York went into Bitcoin Mining (BTC) and increased daily sales by about $ 50,000 a day.

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