Google’s nuclear power plan could revolutionize cryptocurrency mining
2024-10-16

A new paradigm for the production of nuclear energy could change the calculus for both artificial intelligence and cryptocurrency mining, but it requires substantial upfront investment in relatively untested technologies. 
The US will soon develop and deploy its first commercial small modular reactor (SMR). An SMR is a nuclear power source with a much smaller infrastructure footprint than traditional fission reactor plants. These so-called “next generation” reactors are also purported to be much safer. 
Small modular reactors
While small reactors have been around since at least the 1950s, the advent of SMRs could serve as a game-changer for large organizations such as AI training and data centers and cryptocurrency mining facilities. 
Unlike traditional reactors, SMRs can be manufactured in a factory and then shipped to a client’s location. Functionally, these platforms can be set up to produce as much as 300 megawatts of energy and could feasibly be built almost anywhere. 
Crypto mining’s power problem
There are currently hundreds of peer-reviewed research articles available on the subject of cryptocurrency and clean energy. Many large mining companies have begun exploring nuclear power as a safe, clean alternative to traditional energy infrastructure.
However, the primary factors keeping the average cryptocurrency mining facility or artificial intelligence data center from relying on nuclear energy are availability and the high upfront costs of construction. 
SMRs solve some of those problems. They’re purportedly easier to develop, require less maintenance and operational staff, environmentally friendly, and are theoretically substantially more economically feasible over the long term than alternative solutions including large nuclear reactors. However, they still require a significant upfront investment to develop. 
Google’s new deal
Kairos Power, a United States-based nuclear engineering company, recently inked a long-term deal with Google to develop and bring the company’s first SMR online “quickly and safely by 2030,” with continuing rollouts planned through 2035. 
Michael Terrell, senior director of energy and climate at Google, lauded the deal as a win for clean energy:
Google’s commitment to developing what may ultimately become the first commercial US-based SMR manufacturing partnership represents the opening bell for the nascent commercial nuclear power industry. 
While not every company has pockets as deep as Google-parent corporation Alphabet, the cost of entry for on-site nuclear power is likely to drop as the first generation of SMRs are manufactured and improved upon over time. 
Ultimately, barring a fusion breakthrough, SMRs could be the cryptocurrency mining industry’s most economically efficient and environmentally friendly method for energy generation.
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