Russia and the U.S. Explore Bitcoin Mining at Zaporizhzhia Nuclear Plant, Excluding Ukraine

The discussions between Russia and the United States concerning the management of the Zaporizhzhia Nuclear Power Plant have taken a significant turn, with Ukraine sidelined from negotiations. Russian President Vladimir Putin has indicated that the U.S. may be interested in utilizing the plant's electricity for Bitcoin mining operations. Amid these developments, Ukraine's energy infrastructure remains under threat.

Key Takeaways

Russia and the U.S. are in negotiations over the Zaporizhzhia Nuclear Power Plant, excluding Ukraine.
President Putin claims the U.S. is interested in using the plant for Bitcoin mining.
Ukrainian specialists will continue working at the facility but will need to hold Russian passports.
Russia's ongoing military actions have severely impacted Ukraine's energy grid.
There has been no official response from the U.S. regarding these negotiations.

Ukraine Zaporizhzhia crypto mining

Discussions on Bitcoin Mining at the Zaporizhzhia Nuclear Power Plant

Russian President Vladimir Putin has announced that discussions are underway between the U.S. and Russia regarding the management of the Zaporizhzhia Nuclear Power Plant, notably without the involvement of Ukraine. According to Putin, the U.S. has expressed interest in harnessing the plant's electricity for Bitcoin mining purposes.

During a meeting with business leaders, President Putin detailed the plan, as reported by Russian media outlet Kommersant. Additionally, there are talks about the potential for Moscow and Washington to supply electricity to Ukraine, further complicating the ongoing energy crisis.

Putin also mentioned that Ukrainian specialists are expected to continue working at Europe’s largest nuclear power facility but will need to hold Russian passports moving forward. The Captured Zaporizhzhia Nuclear Power Plant has been under Russian control since March 2022.

In response, Ukrainian President Volodymyr Zelenskyy has suggested a collaborative operational framework for the plant with the U.S. He pointed out that the situation regarding Zaporizhzhia remains a crucial point within the broader U.S. peace initiative for Ukraine.

International organizations, including the International Atomic Energy Agency (IAEA), have repeatedly highlighted that any decisions made regarding the plant, without Ukraine’s participation, are deemed illegal.

Ukraine's Energy Crisis

Currently, the Zaporizhzhia Nuclear Power Plant is not producing electricity for Ukraine's power grid due to its seizure in March 2022. All six reactors are in a safety shutdown mode, relying solely on emergency diesel generators for essential cooling systems, which are frequently disrupted.

Moreover, the ongoing conflict has resulted in a surge of Russian drone and missile attacks, significantly threatening energy supplies. According to a Wall Street Journal report, Russia has launched over 5,000 missiles and long-range drones aimed at Ukraine's energy infrastructure.

Research from the private intelligence agency Molfar indicates that there are three active cryptocurrency mining pools in Ukraine with six miners that have reportedly consumed around 33 kW per hour. This data was gathered between July 2023 and June 2024 from various open sources.

As it stands, the United States has yet to provide any official comments on the negotiations regarding the Zaporizhzhia Nuclear Power Plant and the exclusion of Ukraine from these discussions.