Here Comes Nuclear-Powered Bitcoin Mining

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 26 January 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today is a mining day on “The Breakdown” as NLW looks at: News of nuclear-powered bitcoin-mining coming to the U.S. A new report on the state of mining from Galaxy Digital The impact of Kazakhstan’s miner exodus on the global bitcoin energy mix Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Photo by Mike Kline (notkalvin)/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDesk.
0:20.5	What's going on, guys? It is Wednesday, January 25th, and today we are talking about
0:25.3	nuclear power Bitcoin mining. A quick note before we dive in, there are two ways to listen to
0:31.4	the breakdown. You can hear the show on the Coin Desk podcast network, which comes out every
0:35.6	afternoon, and also features other great Coin desk shows, or you can listen on the breakdown-only Network, which comes out every afternoon, and also features other great
0:37.7	coin desk shows, or you can listen on the breakdown-only feed, which comes out a few hours later
0:42.4	in the evening. Wherever you listen, if you're enjoying the show, I would so appreciate it
0:46.6	if you would take the time to leave a rating or review to help new people discover the show.
0:51.7	All right, friends, welcome back and listen. Sometimes you read a headline
0:55.2	and you can just feel a group of people getting triggered. And good golly, did I feel that when I saw
1:02.2	Yahoo Finance drop this little gem. U.S.'s first nuclear-powered Bitcoin mining center to open in Q1.
1:12.6	Now, of course, for a certain portion of the environmental set, the combination of nuclear power and Bitcoin mining in one sentence, in one
1:18.4	facility, is an unholy alliance from their nightmares. Now, at the same time, there are many
1:24.3	environmentalists and ESG advocates who have a much more sophisticated view here, but let's dig into the news. So the TLDR, the first U.S.-based nuclear-powered
1:32.8	Bitcoin mining facility is set to open this quarter in Pennsylvania. The facility has been
1:37.5	completed by Cumulus Data, a subsidiary of independent power producer Talon Energy, which owns the
1:42.8	adjacent 2.5 gigawatt nuclear power plant.
1:46.2	Tallinn Energy has been dabbling in Bitcoin mining for some time, opening a zero-carbon
1:50.1	Bitcoin mining facility in collaboration with Terowulf in August of 2021.
1:54.8	This new facility will operate with a maximum capacity of 48 megawatts, drawing on excess power
	...

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