In a Monday announcement, Energy Harbor Corp has declared that it is partnering with Standard Power for the next five years to provide its Bitcoin mining center in Coshocton, Ohio.
Per the announcement, Energy Harbor Corp would be providing the crypto mining center with “clean, reliable, carbon-free electricity from its nuclear fleet.” This means that the mining center would have access to nuclear energy to mine the leading crypto asset.
It would be recalled that in recent times that there has been lots of negative press surrounding Bitcoin mining’s energy usage. The industry has faced loads of hostilities from China who has insisted on curbing the growth of the space due to environmental concerns. Also, Tesla has also stated that it wouldn’t be accepting the leading digital asset unless there is an improvement on its energy usage concerns.
This has left a sizable gap and rush in the market where opportunities have emerged for organizations who can find clean energy sources for mining the coin. With the development between Energy Harbor and Standard Power, they would be able to seize the opportunity for their own good.
Per Standard Power’s Chief Executive Officer, Maxim Serezhin, Ohio’s low electricity cost played a role in their choice. He stated that
Bitcoin blockchain mining centres are energy-intensive, and we recognize our responsibility to build a more environmentally sustainable future. We selected Ohio because of its low electricity costs with the availability of carbon-free sources of energy. By partnering with Energy Harbor, we have proactively structured our hosting capabilities to ensure that 100% of the power associated with this facility is carbon-free.