The United States has reportedly floated the idea of using Ukraine’s Zaporizhzhia nuclear power plant for cryptocurrency mining as part of broader negotiations with Russia.
What Happened: Zaporizhzhia, Europe’s largest nuclear power facility, has been under Russian control since 2022 and was once critical to Ukraine’s electricity grid and regional energy security.
The proposal to use the plant for crypto mining remains highly uncertain, given unresolved disputes over control and safety, Russian news outlet Kommersant reported.
Competing frameworks are reportedly under discussion. Russia claims it has held talks with the U.S. on joint management that would exclude Ukraine.
The U.S. has suggested a trilateral operating structure, while Ukraine has proposed a joint U.S.-Ukraine venture.
No agreement has been reached.
The discussions are unfolding alongside intensified U.S.-led ceasefire efforts, as Washington and Kyiv move closer to a potential peace framework while Moscow signals limited willingness to compromise.
Also Read: Bitcoin Bounces To $88,000 As Ethereum, XRP, Dogecoin Trade Sideways
Why It Matters: A potential shift of mining operations overseas could reduce U.S. bitcoin production, contradicting President Donald Trump‘s earlier pledge to ensure bitcoin is “mined, minted and made in the U.S.”
Shares of bitcoin miners have surged this year, with the CoinShares Bitcoin Mining ETF (NASDAQ:WGMI) up about 90% despite Bitcoin erasing its gains for 2025.
The ETF holds companies such as Cipher Mining (NASDAQ:CIFR) and IREN (NASDQ: IREN), which have rallied following long-term infrastructure deals with firms including Amazon and Microsoft.
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