According to the Russian local news agency Kommersant, Russia claims that the US is targeting cryptocurrency mining at a disputed nuclear power plant in the Russia-Ukraine conflict zone.
Russian President Vladimir Putin stated at the year-end meeting of the State Council (Gossovet) in the Kremlin that the United States is interested in establishing cryptocurrency mining operations at the Zaporizhzhia Nuclear Power Plant (ZNPP) as part of ongoing peace talks.
At this point, Putin stated that the US had shown interest in using the electricity generated at the power plant for Bitcoin (BTC) mining.
ZNPP, Europe’s largest nuclear power plant, is physically located in Ukraine but has been under Russian control since 2022.
According to Kommersant, Russia is negotiating with the US on a potential joint management arrangement that would exclude Ukraine. In return, the US is proposing a plan for the nuclear power plant to be jointly operated by the three countries with equal shares.
Finally, Ukraine responded with a proposal for a 50-50 joint venture between the US and Ukraine to operate the ZNPP.
Because there is still no consensus on the management of ZNPP, it remains unclear whether the US will conduct cryptocurrency mining operations at the plant.
*This is not investment advice.
