Oklo to assist Compass with Bitcoin mining

California-based nuclear plant operator Oklo and mining company Compass have signed a 20-year partnership.

@oklo and @compass_mining secure a 20-year partnership to power #Bitcoin mining with advanced fission.https://t.co/EunCwCvHk5

— Oklo (@oklo) July 14, 2021

The agreement envisages allocating 150 MW for Bitcoin mining in the first phase. The project is scalable and allows for capacity expansion in the future.

“The cryptocurrency mining industry needs to increase its share of green energy. Oklo is ready to meet the commercial demands of its participants”, said Jacob DeWitt, co-founder and CEO of the reactor operator.

Oklo intends to optimize the design of its power plants to boost competitiveness relative to other renewable-energy providers.

Earlier in July, a similar agreement for Bitcoin mining powered by nuclear energy in Ohio was signed by mining-infrastructure provider Standard Power and the power-generation company Energy Harbour.

Earlier, created by American miners, the organization Bitcoin Mining Council concluded that the share of renewable energy in the global Bitcoin mining industry stood at 56%.

In the community, the study was criticised, casting doubt on its objectivity.

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