US To Operate Nuclear Powered Bitcoin Mining In 2023

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US To Operate Nuclear Powered Bitcoin Mining In 2023. The United States (US) will open its first nuclear-powered data center offering Bitcoin mining in the first quarter of this year. This data center is called Cumulus Susquehanna and is located in Pennsylvania.

Read Also; India’s IT Official Says Crypto Is Not Banned As Long As It Follows The Rules

Reporting from Yahoo Finance, Wednesday (25/1/2023), this project has been completed by Cumulus Data, a subsidiary of independent power producer Talen Energy. The data center is expected to start hosting nuclear-powered Bitcoin mining and cloud computing services in the first quarter of 2023.

In August 2021, Talen Energy partnered with US-based Bitcoin mining company TeraWulf to develop Nautilus Cryptomine, a carbonless Bitcoin mining facility, on the Cumulus Data campus.

TeraWulf is in the “early stages of scaling up its mining operations and expects a nuclear-powered data center to provide 50 Megawatts of net mining capacity to TeraWulf in the first quarter of 2023.

The 300,000 square foot data center is powered by a 2.5 gigawatt nuclear power plant.

US To Operate Nuclear Powered Bitcoin Mining In 2023. Bitcoin mining difficulty rose 10.26 percent last Monday to a new all-time high, as many US-based mining companies returned online after winter storms forced them to shut down operations.

Previously, Bitcoin has risen more than 37 percent since early 2023 and is heading for its best monthly return since October 2021. Analysts point to a weaker dollar, inflation expectations and support for institutional buying to blame for Bitcoin’s price rally.

Reporting from Yahoo Finance, Wednesday (1/25/2023) Bitcoin is currently changing hands in the range of USD 23,000 or the equivalent of Rp. 343.9 million (assuming an exchange rate of Rp. 14,954 per US dollar) to USD 22,000 or the equivalent of Rp. 328.9 million. Reaching this level made Bitcoin trade at its highest level since August 2022.

Read Also: Ukrainian Financial Supervisory Board Blocks Russian Crypto Exchanges

CEO of Euler Labs, which operates the crypto-lending protocol, Michael Bentley said BTC is the gateway to the crypto ecosystem. This points to an increase in bitcoin’s market capitalization of all crypto assets, which has increased to 44 percent from 41 percent in the last 14 days.

“Bitcoin is an extreme risk asset and it will do well when interest rates finally start to fall again,” Bentley said.

US To Operate Nuclear Powered Bitcoin Mining In 2023. This year, the total market capitalization for cryptocurrencies rose 24 percent to USD 1.04 trillion or the equivalent of IDR 15,552 trillion according to Coinmarketcap. On exchanges around the world, spot crypto trading volume has increased 64 percent to $4 trillion during the same period, according to crypto indexing platform Nomics.

For bitcoin alone, trading volume has jumped 82 percent to $1.15 trillion, or around Rp.17,197, placing the largest cryptocurrency behind only stablecoin Tether (USDT-USD) as the most traded coin so far this year.

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