Zaporizhzhia Plant May Become Nuclear Bitcoin Mining Hub
Russia and the United States are reportedly debating managing the Zaporizhzhia nuclear power station jointly, according to Kommersant, a Russian media outlet. The plan calls for mining Bitcoin at the plant, which is the biggest in Europe. At a State Council pre-New Year’s meeting on Christmas, President Vladimir Putin is said to have announced the partnership.
US Interest in Zaporizhzhia Sparks Bitcoin Mining Speculation
Putin stated that rather than Kyiv, the talks are happening with U.S. authorities. According to him, representatives from the United States expressed interest in using Zaporizhzhia’s electricity for cryptocurrency mining activities. According to reports, Putin also stated that the American endeavor is discussing electrical supplies to Ukraine. Putin responded that Ukrainian experts were already employed at the site when asked if they could work there. They now possess Russian passports and are governed by Russia, he continued.
Personnel training was apparently the main topic of Putin’s State Council meeting. He, however, spoke candidly about Zaporizhzhia, putting Russia and Washington at the forefront of operational planning for the nuclear facility and removing Ukraine from the discussions. Russia’s financial system already uses cryptocurrency mining. Mining may be another factor contributing to the strengthening of the ruble, according to Central Bank Governor Elvira Nabiullina. Furthermore, according to a September study from the Industrial Mining Association, Russia placed second in the world for summer cryptocurrency mining. It was responsible for about sixteen percent of the hashrate worldwide.
Russia Says Crypto Mining Is Reshaping Ruble Forecasts
Maxim Oreshkin, the Presidential Executive Office’s Deputy Chief of Staff, stated at a symposium earlier this week that predictions regarding the price of the ruble in 2026 were unreliable. Oreshkin pointed out that mining and cryptocurrency-related money flows had been understated. According to him, this industry has developed into a new export route and now has an impact on foreign exchange markets. According to him, the Bank of Russia is evaluating these movements in order to incorporate them into the balance of payments. Many of these transactions avoid the usual reporting channels, he added.
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