Google’s new deal could completely change the Bitcoin mining industry
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Johny Smith
2024/11/01
3 mins read
Google has planned to use small modular reactors (SMRs) to solve energy consumption problems in the cryptocurrency mining and artificial intelligence industries. SMRs offer a cost-effective and environmentally friendly solution for large data centers and farms.
Unlike traditional nuclear reactors, such devices can be manufactured in a factory. They can be installed virtually anywhere, offering up to 300 megawatts of power. However, the main obstacle to their mass implementation remains high initial development and construction costs.
It has become known that Google management has signed an agreement with the American nuclear technology company Kairos Power to develop the first commercial SMR by 2030. This step marks the beginning of a new era in the use of nuclear energy to meet the needs of mankind. Google expects to add up to 500 megawatts of new capacity to the US grid by 2035, which will significantly change the landscape of the sector.
Although small reactors can significantly reduce supply costs, such technologies are currently only feasible for large corporations like Google that can afford such investments. However, as technology advances and construction costs decrease, SMRs could become a more affordable solution for cryptocurrency miners and data centers around the world.
Thus, this initiative could lead to significant changes in the economics of digital coin mining, making mining more sustainable and less dependent on traditional energy sources. In the future, if SMR technology becomes available to a wider audience, it could fundamentally change the approach to using clean energy in this area, especially in the absence of breakthroughs in the field of nuclear fusion.
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