Nuclear power plants in Ukraine may start mining crypto

The acting energy minister has instructed the nuclear operator to study the initiative amid excessive generation that has been a result of falling demand.

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The state-owned Energoatom, the operator of Ukraine's nuclear power plants, has received from acting energy minister Olha Buslavets a letter with instructions to review nuclear fuel procurement plans amid surplus in base generation and work out a project on crypto mining to create additional sales markets.

The text of the letter went public after MP with the Servant of the People faction, Geo Leros, posted its copy on Facebook, slamming criticism on the initiative.

He alleges that the acting minister is acting in the interests of monopolies in thermal generation and renewables as Energoatom is being ordered to shut down power units at NPPs, which is making electricity more costly for Ukrainian enterprises, and then to consider mining cryptocurrencies with the use of unspent electricity.

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Speaking of the instruction to review nuclear fuel procurement plans, Geo Leros suggests that this could put Ukraine back in dependence from Russia as the revision could involve opting for the Russian producer Rosatom rather than continuing the path of diversification of supplies.

At the moment, Ukraine acquires nuclear fuel from Russia and Sweden (produced by U.S.-based Westinghouse).

"The Americans came to this market relatively recently, after 2014. Russia has been dreaming of returning Energoatom under their control and, it seems, they are succeeding," Geo Leros wrote in his post.

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