Tuesday, July 27, 2021

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    Nuclear power, the answer to whitewashing bitcoin

    Bitcoin’s price falls around 50 percent of its annual highs and one of the main reasons for the collapse, in addition to regulatory repression, are the environmental problems generated by the production of the currency.

    However, the solution to whitewash bitcoin and mitigate all these adverse effects could be in nuclear energy.

    This was assured by the startup Oklo, after noting that it is negotiating an agreement with the company Compass Mining to enter advanced fission in the production of bitcoin. This process is known as mining.

    The aim is to reduce the high fossil fuel emissions involved in the mining of digital currencies.

    “Bitcoin is a great market opportunity for clean energy generation, especially in search of new generation systems,” said Oklo’s ceo, Jacob DeWitte.

    The goal is to supply clean energy to produce bitcoins

    One of the most critical voices with the pollution generated by bitcoin was that of Elon Musk. His sharp ‘tweets’ against mining caused more than one drop in the price. It put the problem on the market’s radar and depressed investor sentiment.

    Now, the situation could change in the medium term because Oklo assured that its advanced fission reactors are in a position to be able to supply clean energy in the first half of this decade.

    nevertheless Oklo will first have to get approval from the Nuclear Regulatory Commission of the United States for its small reactors, which run on radioactive waste.

    The company submitted the application in March last year, just before the outbreak of the coronavirus pandemic. And the regulator accepted it after three months. now the authorities have three years to make a decision.

    If the agreement is reached, Compass could install its computers near oklo plants. The company sees opportunities in Central, Southern and Eastern Europe, as well as in the United States.

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