Ministry of Energy invited Energoatom to study a new sales market - cryptocurrency mining


The Ministry of Energy and Environmental Protection proposed the state company NAEC Energoatom to consider the possibility of cryptocurrency mining. This is stated in the document, which got the order of Liga.net.
New monetization source

Acting Minister of Energy Olga Buslovets instructed the Energoatom Directorate for the Development of Nuclear Energy and Nuclear Industry "to work out the regulatory and technical issues of the possible implementation of cryptocurrency mining projects in order to provide additional markets for the electricity generated by nuclear power plants."

In other words, to figure out whether it is possible to start cryptocurrency mining technically and without violating the law in order to monetize the electricity generated by the state-owned enterprise.


Why is this needed?

On April 29, the Ministry of Energy and Energy revised the forecast energy balance for 2020 due to the energy crisis in the country. Due to the drop in demand for electricity, officials decided to reduce electricity production by all types of generation: nuclear, hydro, and thermal.

As a result, since May 5, only 10 out of 15 power units have been operating at Ukrainian nuclear power plants: 4 were put out for repair, and one was put into reserve. Due to the balance restrictions for the day, the Ukrainian nuclear power plants underfunded 43.02 million kWh of electricity.

Obviously, Energoatom needs to find new ways to sell electricity in order to avoid even greater downtime, since interruptions in the operation of nuclear power plants and hydroelectric power plants carry the risk of emergency situations.

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