Californian nuclear energy provider partners with bitcoin mining firm Compass

In another bid to decarbonize Bitcoin, the Californian nuclear power plant Oklo announced its 20-year partnership with the bitcoin mining firm Compass on Wednesday, according to a release. 

The first phase of the partnership beginning in the “early 2020s” will involve Oklo providing Compass 150MW of nuclear-generated energy for bitcoin mining. 

“Cryptocurrency mining offers promising pathways to accelerate the deployment of clean energy technologies, and Oklo is positioned to respond to commercial demands by offering end-users the convenience of buying clean, reliable, and cost-effective power that they can depend on,” said Oklo’s co-founder and CEO Jacob DeWitte in the statement.

In addition to this new Oklo-Compass clean bitcoin initiative, nuclear energy will also power bitcoin mining in Ohio starting this December. 

Bitcoin and other crypto derivatives such as non-fungible tokens (NFTs) have received criticism regarding their environmental impacts. Oklo and Compass now join a slew of other companies aiming to reduce their bitcoin’s environmental impact, what with some mining firms opting for hydropower energy sources and other firms using carbon offsets to reduce their environmental footprint.