Due to the complexity of bitcoin mining, this cryptocurrency is among the most environmentally harmful. According to some reports in 2022, 86.3 million tons of carbon dioxide were emitted by bitcoin mining. The algorithm change for obtaining Ethereum also highlighted the anti-climatic nature and forced us to take action. Particularly, people started to talk more about the power of bitcoin farmers from nuclear power stations, which have become beacons for “green” energy.
According to reports, the United States will soon have its first bitcoin farm that receives direct power from a nuclear plant. Talen Energy will provide the site. It announced last week that it had completed construction of premises near the Susquehanna Steam Electric Station nuclear plant in Pennsylvania. The Cumulus coin Talen Energy division will handle mining at the new site. Cumulus data will supervise hyperscalers.
TeraWulf was the first company to begin mining bitcoin from a site that has a direct connection with the nuclear power station. She will receive almost zero carbon emissions from all bitcoins that she receives. However, this is not the case. But, there are a few calculations that show that nuclear power is about equal in CO2 emissions.2 With renewable energy sources, no source of renewable energy will be entirely free from greenhouse gas emission because equipment production and logistics will still cause CO emissions2).
Ethereum Mining Algorithm Changes From Proof-of Work to Proof-of Stake. Reduced CO Production2 However, the 99% figure is still a significant increase. There are no signs that bitcoin mining will follow this path. There is still much to be done in finding clean energy sources to get bitcoins. One example of this is purchasing electricity from solar and wind power plant operators. Also, nuclear energy is now on par with these sources. This was something that was not considered even two or three years ago. Now, everything is changing, and these changes will impact more areas, including cryptocurrency mining.