US-based power provider, Energy Harbor Corporation, has signed a 5-year agreement with Standard Power, a leading hosting provider for blockchain mining companies, to use nuclear power and provide clean energy to Bitcoin mining centers. Since the Chinese crackdown on bitcoin mining, many firms have been forced to sought solace outside the Asian country. Bitcoin mining has also faced scrutiny recently for its massive energy consumption and effects on the environment.
The firm will provide nuclear power for bitcoin mining.
According to a press release by Energy Harbor, the company’s Bitcoin mining facility located in Coshocton, Ohio, will begin receiving sustainable power later this year. Currently, the parties involved have not disclosed the size of the operation or the amount of electricity Energy Harbor will use. However, the company assures that it can ensure that all of its operations rely on renewable and clean energy. “By partnering with Energy Harbor, we have proactively structured our hosting capabilities to ensure that 100% of the power associated with this facility is carbon-free,” Maxim Serezhin, Standard Power’s Chief Executive Officer, noted.
Crypto miners look for clean energy.
The discourse around the environmental impact of the Bitcoin mining industry has been a matter of concern for everyone. Crypto miners have been blamed for adding to the already existential problem of climate change. Several politicians and regulators have taken a critical stance against Bitcoin as a highly damaging industry. The main exponent of this position is China, which recently banned cryptocurrency mining in several important provinces which took advantage of coal-fired electricity. China is trying to reduce its carbon emissions to meet a number of international agreements. Following the crackdown on crypto mining, more and more crypto miners are looking for clean energy.