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Well, uranium juniors should support this.
Talen Energy said it has permits in hand and can mine cryptocurrencies using nuclear power from Susquehanna Steam Electric Station based in Allentown, Pennsylvania.
Data Centre Dynamics reported the news.
The project will have two phases. Talen will start with 164MW of capacity, but will eventually build out to 300MW. The project can be expanded to 1GW capacity if there is demand.
Talen said the project will come online in the Q2 2022.
Susquehanna Steam Electric Station has capacity for 2,500 megawatts. Talen said it is one of the biggest plants in the U.S. The plant employs over 900 staff. The plant was commissioned in the mid-80s.
Talen is touting that the cryptocurrency mining will not require burning any fossil fuels.
“As the demand for energy increases among data center and cryptocurrency processing clients, so does the call for decarbonizing these energy sources. Talen Energy is constructing a hyperscale data center campus adjacent to its Susquehanna nuclear generation facility,” according to a company presentation obtained by Data Centre Dynamics. “It will provide low-cost, reliable, carbon-free power to the data center clients on campus. This allows clients to benefit from carbon-free, 24/7 power being supplied directly to the campus, without the intermittency that renewable energy can experience, or requiring fossil fuels.”
On its website Talen describes itself as an independent power generation infrastructure company that owns or controls approximately 13,000 MW of generating capacity in well-developed, structured power markets throughout North America. The company has a mix of nuclear, natural gas, coal and solar power plants in its portfolio.
Last month the El Salvador government announced it would start mining bitcoin using geothermal energy. The country also made bitcoin legal tender.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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