Topic: Bitcoin Mining with Nuclear Power (Read 210 times)

Exactly. IAEA isn't a licensing organization, but a congregate that enforces the use of clean and safe nuclear energy, while at the same time inhibiting potentials for its use in advanced warfare. Ultimately yes countries can choose to disregard decisions made by them but since this is a scientific organization not entirely tied with the US, they literally have no reasons to not follow its strict rules, lest they want Chernobyl 2: Nuclear Boogaloo. But I digress, point is, the power plant is operational, the bitcoins are getting mined using Nuclear Energy, and everyone is relatively happy at this point. Well save for the radical environmentalists which I suspect are putting up signages and banners outside the doors of the building telling everyone off and exposing how "bad" the bitcoin industry is lmao.

You have a serious misconception of what the IAEA is and does. A good place to start is here.
Established in 1957, more than anything it is a clearinghouse of research and real-world facility operations databases covering all aspects of nuclear programs involving power generation and *other* uses.

Because of the open flow of information between researchers along with industry and government representatives, yes it has countless whitepapers covering what should be best practices in design and operations but there are no guidelines per-se. It is a (theoretically) non-political, independent and globally recognized 3rd-party monitor of nuclear programs. The IAEA has zero say in the licensing processes. That is entirely up to each countries governments. Same applies to said governments even allowing IAEA access to information about their nuclear programs.

There is actually really an international atomic organization that has very strict rules on how an nuclear power reactor has to run. Yes they have no right to enforce it, but actually basically all countries do comply with those rules, because if you do not comply in your own country also other countries will stop to comply. And if the reactor in your neighbor country explodes it becomes also your problem very quickly...

"International permission"? When mankind cannot even agree to end wars which just so happens to be a bigger threat to survival than any source of power? Riiiigggghhhhttt.. And I'd like to fly and spit diamonds - don't see that happening either.

Just what apparently very colorful and wacky world with everyone singing Kumbaya & hugging do you live in? Yes, nuclear power is dangerous if proper design & operation rules are not followed. Guess what, so is any power plant regardless its type.

With proper location away from earth faults and tsunami areas along with having properly trained operators nuclear power is safer and does far less environmental damage than almost any other type of power.

Nuclear power plant is not as simple as you say. To set up a nuclear power plant, not only a country's permission should be obtained, but the permission to construct a nuclear power plant should be obtained from the international level. And I don't think anyone can accept such a permit from the international level.

There should be no residential areas within a few hundred kilometers of the location of the nuclear power plant.  Then you understand how dangerous nuclear power plants are for human life. And how threatening to human life. So mining bitcoins using nuclear power plants is very challenging and the chances of success are very low. Because if you have applied for permission to set up a nuclear power plant at national level or international level then you may not get any positive news from there.

Energy is energy. When you use “clean” energy, you only pay for your energy upfront. The difference between nuclear and “clean” is the space. How many wind mills and solar panels would you need to feed a farm like what OP described? I guess it would be a lot. And then you need to have a very big field to store these mills and panels, you need to do their maintenance etc… see where I am going? When you use nuclear, none of these needed. Plug in and done. Clean energy is not practical and certainly not clean when it is used on a very big scale.

No one in a country can use nuclear power at will. If you want to use nuclear energy, you have to get permission from the government first and the government will not give this permission so easily. Because nuclear energy is very harmful to the environment. And using nuclear power is very expensive. Even if the government allows you, you still have to think about its high cost.
The three points you mentioned are all three points valid but one has to consider what kind of environment he lives in.  That is, if he wants to produce electricity through solar panels, he must choose an environment where the sunlight stays for a long time and the intensity of the sun is high. If it is an environment for makeup then this method will not be useful.  

For wind mill use, a place with a lot of wind should be selected so that the flywells rotate a lot and the flywells produce electricity due to the horses.

 And the last point is hydroelectricity . generating electricity by harnessing the flow of water. To adopt this method, mountain rivers should be selected where there are many streams. The more current there is, the more intelligence will be produced. If he can choose such a place then these methods will be useful for him.

In my opinion mining Bitcoin with Nuclear power energy is not realistic because there are almost of regulations to run Atomic or nuclear power because only governments can allow this.
And if we do this than it would be sustainable energy but there could be a lot of cost to the staff because they have to monitor these mining facilities. That's why I will recommend alternative options and that are described below

1. Solar Power
2. Wind mill
3. Water Source of Energy

Looks like you are a little late as there's another thread that contains some discussions from members that was posted exactly 2 weeks ago
It might be able place to look into if you are planning to add your opinion

--> America's first nuclear-powered bitcoin mining farm

Terawulf Brings First Fully Nuclear-Powered Bitcoin Mining Operation In America Online


A joint venture with Cumulus Coin, LLC. has brought the first nuclear-powered Bitcoin mine online in Pennsylvania.

Terawulf has announced roughly half of its nuclear-powered Nautilus Cryptomine has come online. The mining facility, a joint venture with Cumulus Coin, LLC., derives its energy wholly from the 2.5 GW Susquehanna nuclear generation station in Pennsylvania.

The full operation will amount to 50 MW and 1.9 EH/s, with an option for Terawulf to add an additional 50 MW of bitcoin mining capacity, “which the Company plans to deploy in future phases,” according to a press release.

Paul Prager, chairman and CEO of TeraWulf, said that “the recent energization of the Nautilus facility earlier this month, approximately 16,000 of TeraWulf’s owned miners, representing 1.9 EH/s of self-mining capacity, are onsite and being brought online daily.”

“The Nautilus nuclear-powered mining facility benefits from what is arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years,” Prager commented.

Mining consultant and cofounder of Citadel 256, Magdalena Gronowska, previously described in an article for Bitcoin Magazine how nuclear power can revolutionize Bitcoin mining.

“Nuclear is a carbon free, reliable and cheap energy source,” she told the magazine. “It's not perfect in that it emits nuclear waste, but every energy source has tradeoffs between environmental footprint, reliability and capital and operating costs… We need a diverse mix of energy generation, to serve both baseload and peak load, as we transition to a low carbon economy.”

Source:
https://www.nasdaq.com/articles/terawulf-brings-first-fully-nuclear-powered-bitcoin-mining-operation-in-america-online

https://www.businesswire.com/news/home/20230305005096/en/TeraWulf-Announces-Energization-and-Rapid-Deployment-of-Mining-Operations-at-the-Nautilus-Facility-in-Pennsylvania