Putin: US Wants to Use Europe's Largest Nuclear Power Plant for Bitcoin Mining

Zaporizhzhia Nuclear Power Plant at Center of Peace Negotiations

The Zaporizhzhia nuclear power plant, Europe's largest nuclear facility, could be used for Bitcoin mining in the future, according to Russian President Vladimir Putin. Putin made these comments on December 24 at a meeting with key business representatives regarding ongoing peace negotiations between Ukraine, Russia, and the US ^[1].

The plant, located in southeastern Ukraine near the city of Enerhodar on the left bank of the Dnieper River, supplied approximately 20 percent of Ukraine's electricity before the war ^[1]. In March 2022, shortly after the war began, the Russian military seized control of the facility. Since September 2022, all six reactors have been shut down ^[1].

Putin's Accusations Against the US

According to a report by the Russian media outlet Kommersant, Putin announced that the US government had expressed a desire in negotiations with Russia to participate in the administration of the nuclear power plant ^[1]. The US is reportedly seeking joint administration with Russia – but without Ukraine's participation ^[1].

The Kremlin chief claimed that while the US government is also advocating for power supplies to Ukraine, it is primarily interested in using the nuclear energy from Zaporizhzhia for "crypto mining" ^[1]. However, this report remains merely rumor at this point ^[2].

Ukraine and US Respond Cautiously

Ukrainian media condemned Putin's statements, describing them as baseless claims intended to drive a wedge between Ukraine and its Western allies ^[1]. The US has not officially confirmed discussions about administering the plant without Ukraine ^[1].

Ukrainian President Volodymyr Zelenskyy emphasized that no agreement regarding the nuclear power plant has been reached yet ^[1]. At the same time, he indicated that the US had proposed a model that would allocate a 33 percent share of administration to each of Ukraine, Russia, and the US, with the United States taking the lead ^[1]. The front line in the Zaporizhzhia region would be frozen accordingly, leaving the area under Russian control ^[1].

US Economic Interests

Donald J. Trump has repeatedly emphasized that American financial and military support should be linked to economic interests, including access to critical raw materials in Ukraine such as rare earths, which are predominantly mined in Russian-occupied territories ^[1].

According to Putin's account, the American share of energy production could also be used for Bitcoin mining ^[1]. Against the backdrop of President Trump's announced plans to build a national Bitcoin reserve and develop the US into the leading Bitcoin mining nation, this scenario appears quite plausible ^[1]. However, independent confirmation is not yet available ^[1].

Possible Implications

Whether any potential use of the nuclear power plant for Bitcoin mining will actually be included in a peace treaty remains unclear ^[2]. What is undisputed is primarily that US participation is being discussed; what remains open is the form and extent to which Ukraine should be involved ^[1].

An increase in mining activities at Zaporizhzhia could lead to increased revenue for the local economy, but also to increased environmental impact and dependence on foreign investment ^[2].