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Nuclear power to mine cryptocurrencies


Ukraine’s Ministry of Energy and Environmental Protection believes that using nuclear power plants to mine cryptocurrencies could be one of the best options to take advantage of current excess energy.

This statement was issued by the Ukrainian Ministry of Energy in a May 6 Facebook post:

“The process of mining cryptocurrencies is a contemporary and efficient way to use excess energy and even more so in a pandemic time.”

Nuclear power against the Coronavirus

According to the Facebook post, due to the quarantine due to the Coronavirus, the Ukrainian nuclear plants have generated a large surplus of energy. Consequently, COVID-19 has dealt a severe blow to the main energy industries.

Ukraine avoids energy waste

The Ukrainian body seeks to employ progressive solutions in the energy industries. Above all, to avoid wasting energy, this as part of the government’s course towards digitization.

Mining cryptocurrencies could be one of the most efficient solutions to avoid energy waste. In addition to the possibility of earning a lot of money in the process.

President Volodymyr Zelensky added:

“One of the modern approaches to using excess energy is to dedicate them to cryptocurrency mining. It would allow maintaining the optimal load in nuclear power plants. “

He also added: “It could ensure that companies can attract additional funds. Therefore, it would open the way to the new decentralized economy.

The Ministry of Energy stressed that: “It is important that governments react to challenges. And the task of the State is to create clear rules so that they act as a promoter of economic development

Ukraine’s decisions

As reported by a national media outlet. Ukraine has the seventh highest nuclear power generation rate in the world. It also has 15 combined reactors that provide 13.9 GWe of electricity.

Therefore, the head of the Ministry of Ukraine asked the state-owned company Energoatom, to manage the country’s four nuclear power plants.

Likewise, he was asked to study possible ways of applying cryptocurrencies in nuclear power generation facilities.

To conclude, the Ministry of Energy and Environmental Protection of Ukraine directly summoned his president. Who called to contribute initiatives and measures towards electronic governance:

“I want quick changes. I believe in his talent and desire to make Ukraine a digital leader and guarantee him political will. ”

It would not be the first time that a power plant goes to cryptocurrencies. Notably, in March, a New York power station went into Bitcoin (BTC) mining, adding close to $ 50,000 in daily BTC.

Do you think that the measures taken by Ukraine would be a solution to energy saving?

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