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The Mining of cryptocurrencies with Nuclear reactors can become a possibility in the near future

Bitcoin mining can be adapted to any situation

Mining cryptocurrencies with nuclear power sources.

There have been a few updates on bitcoin mining energy consumption that has shown that operations have approached 0.5% of all global energy reliance. These figures have raised some concerns, however, that cryptocurrency mining activities can be damaging to the environment, and raising electricity rates for everyone. This is missing the point of the development of mining and its universal potential to increase global wealth and better allocation of scares resources like energy.

According to a report from Digiconomist bitcoin mining has an estimate of about 200 Gigawatts of electricity needed which has lead other experts to think that this is an overestimation. There are a lot of ways bitcoin can be mined through different sources of energy, an optimal source of energy is the excess power generated by nuclear power plants, which is often wasted and can be used for mining. In the future, this can become another method of mining cryptocurrencies, since nuclear power will become cheap and emit low to no amount of greenhouse gases.

cryptocurrency mining operation

The nuclear energy is produced through a controlled nuclear chain reaction, that has heavy isotopes such as Uranium-235 that will be split like an atom. This releases neutrons which then causes another Uranium-235 atom like split, as a continuous process.

This energy can be used in order to produce a nuclear chain reaction that can be utilized for power generation while the reaction is in a stable state. If the reaction is not stable this will cause more atoms to be split and can become a nuclear bomb.

Nuclear plants produce a lot of energy that there are times throughout the day and years that the power grids get full with no more room to store the electricity. This causes the nuclear power plants to force the reduction of the energy output of the nuclear reactor. There are control rods that are then inserted into the core reactor which consists of metals like boron and silver, this absorbs neutrons and slows down or completely stops the chain reaction.

The electricity factor makes bitcoin mining secure

If a company wants to slow down a nuclear reactor control rod, this will not save them money, as this causes the same amount of money to operate, even at low or max capacity. This makes it economically more effective and efficient for a power plant to operate at full capacity on a 24/7 hour basis, as this also increases the longevity of the nuclear reactor.

Mining cryptocurrencies with nuclear power sources

This can put bitcoin and cryptocurrency mining in a position to set up a farm on the grid of a power plant, which makes the power plant then operate continuously. This will give the power plant a more profitable outcome and lead to lower electricity rates for the grid while contributing to the bitcoin mining network and energy stability that is needed. This will also make Bitcoin mining profitable not just for the power plant but also for the users of the network. A full unified financial system that can go in any direction based on electricity rather than debt and political gains.

What is your opinion on the bitcoin mining operations? Feel free to leave a comment down below.

coinmag

My occupation is the Research of blockchains and they're practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

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