Russia, US Discuss Bitcoin Mining at Zaporizhzhia Nuclear Power Plant, Sidelines Ukraine

Russian President Putin said that the US and Russia are in talks over the joint management of Zaporizhzhia Nuclear Power Plant, without Ukraine’s participation. He claimed that the US is interested in using the plant’s electricity for Bitcoin mining.

During a meeting with business representatives, President Putin unveiled the plan, Russian media Kommersant reported. Further, Moscow and Washington are considering the possibility of supplying electricity to Ukraine.

Additionally, Putin said that Ukrainian specialists will continue to work at the largest nuclear power plant in Europe, but will hold Russian passports. The Zaporizhzhia Nuclear Power Plant was captured by Russian troops in March 2022.

Ukrainian President Volodymyr Zelenskyy has proposed a joint operation of the Plant with the US. He said the issue of Zaporizhzhia remains one of the most challenging points of the US peace plan for Ukraine.

International communities, including the IAEA, have repeatedly stressed that any decisions regarding the plant without Ukraine’s participation are illegal.

Ukraine Power Grid Crisis

The Zaporizhzhia Nuclear Power Plant is currently not generating electricity for the grid due to its seizure by Russia in March 2022. Its six reactors are in a safety shutdown and depend solely on emergency diesel generators for essential cooling, with frequent cuts.

Besides, more Russian drones and missiles than in previous years have left energy supplies at a tipping point. Per a WSJ report, Russia launched more than 5,000 missiles and long-range drones into Ukraine, targeting energy infrastructure.

Analysts at the private intelligence agency Molfar said in a study that three active crypto mining pools with six miners in Ukraine likely consumed 33 kW per hour. The data was collected from July 2023 to June 2024 using various open sources.

Currently, the US has not released any official statement regarding the ongoing negotiations on the Zaporizhzhia Nuclear Power Plant, without Ukraine’s involvement.

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