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Ohio State To Support Nuclear-powered Crypto Mining

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Texas isn’t the only GOP-led state to enter the massive blockchain and cryptocurrency race recently. In a massive bid to take over the void that the China crackdown on bitcoin mining left the crypto world, power producer Energy Harbor Corp has merged with blockchain infrastructure provider Standard Power, to engage in a venture that will bring nuclear-powered bitcoin mining in Ohio.

“Bitcoin blockchain mining centers are energy-intensive, and we recognize our responsibility to build a more environmentally sustainable future. We selected Ohio because of its low electricity costs with availability of carbon-free sources of energy. By partnering with Energy Harbor, we have proactively structured our hosting capabilities to ensure that 100 percent of the power associated with this facility is carbon-free,” said Standard Power CEO Maxim Serezhin.

“We are grateful that Standard Power has granted us the opportunity to serve them. We are happy to partner with customers who are focused on minimizing their impact on the environment while driving a new clean energy future in our local Ohio economy,” John Judge, Energy Harbor President and CEO said in an interview.

The two entities will be utilizing Standard Power’s abandoned paper mill in Coshocton, Ohio which they plan to convert 125-acre property into a 40 MW blockchain mining site with a 10 MW capacity data center.

The power needed to fuel cryptocurrency mining has been a source of environmental concerns lately and the carbon-free qualities of nuclear power can be one of the viable solutions to this problem. According to the U.S. Department of Energy, a single nuclear plant has the capability to produce at least one gigawatt of energy, perfect for the demanding needs of blockchain mining. 

Ohio’s Republican governor Mike DeWine is well-known for his efforts to turn his state into a leader in technology. As early as 2018, DeWine launched an initiative dubbed “InnovateOhio” which was aimed at making the state government more technologically-efficient. The project was already pushing for blockchain technology back then. It was the recommended platform in transferring records from paper to digital, for more effective safe-keeping and retrieval.

Back in December 2020, a House Bill that would allow official state entities to utilize blockchain technology in their operations and transactions, was introduced to the Ohio Senate. The bill, which is awaiting Gov. DeWine’s decision states that “A governmental entity may utilize distributed ledger technology, including blockchain technology, in the exercise of its authority.”

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