Key notes
- United States
- proposes joint management operations of the Zaporizhzhia nuclear power plant for Bitcoin mining.
- This proposal is part of the ongoing peace negotiations between Russia and Ukraine, which have lasted for almost four years.
- The Bitcoin mining sector is attracting attention from countries like the United States, France, and China globally. .
The United States has expressed interest in using the controversial Zaporizhzhia Nuclear Power Plant (ZNPP) for nuclear purposes.
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mining. This US proposal is part of ongoing peace negotiations in the Russian-Ukrainian conflict.
US decides to expand Bitcoin mining
Russian President Vladimir Putin shared the details following a recent meeting with U.S. business executives. According to a report from Russian media outlet Kommersant, the United States has expressed interest in building cryptocurrency mining operations at ZNPP.
Based on the details, the proposal is part of ongoing negotiations between the United States and Russia, and the parties are considering providing electricity to Ukraine.
ZNPP, Europe’s largest nuclear power plant, has played a central role in the electricity supply and stability of Ukraine’s grid. The facility is located near Energodar, on the left bank of the Dnieper River.
Russia took control of the factory in March 2022, shortly after the start of the military operation in Ukraine. The plant was transferred to the management of Rosenergoatom JSC, part of Rosatom, and has become a recurring flashpoint in peace talks. Currently, there are several competing proposals regarding plant ownership and power distribution conflicts.
According to Kommersant, the United States is proposing a joint management agreement with Russia that would exclude Ukraine. However, a BBC report revealed that the United States had proposed a joint operation of the three countries, with equal stakes in the venture. However, Kyiv reportedly disagreed.
Importantly, Ukraine responded by proposing an equal joint venture with the United States to operate the ZNPP. Under the proposal, Ukraine would receive 50% of the plant’s electricity production, while the United States would independently allocate the rest.
Countries Increase Their Exposure to Bitcoin Mining
Meanwhile, Bitcoin mining expansion has increased in the United States this year despite the volatility of the leading coin. Specifically in January, Grayscale launched a Bitcoin Miners ETF to support the BTC mining ecosystem.
Other countries like France have also expanded into the Bitcoin mining sector. The French government has drawn up a 5-year Bitcoin mining plan, which is expected to generate around $150 million from the industry.
Bitcoin mining is quietly making a comeback in China four years after Beijing banned all cryptocurrency mining. According to a previous report from Coinspeaker, China grabbed a 14% share of the global hashrate, ranking third in the world as of the end of October.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations aimed at driving mainstream acceptance and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
