Kraken Considers Nuclear Energy for Data Center Stability
Kraken, one of the world’s leading cryptocurrency exchanges, is considering the use of nuclear energy to ensure the stability of its data centers. Vishnu Patankar, the exchange’s technical director, mentioned in an interview with CoinDesk that the increasing demand for electricity in areas like artificial intelligence and high-performance computing has led to this exploration of alternative energy sources.
Patankar emphasized the importance of a constant and reliable energy supply for Kraken due to cryptocurrencies operating globally around the clock. As institutional acceptance of digital assets grows, there is a need for stable access to electricity. One solution being considered is the use of small modular reactors (SMRs), compact nuclear reactors that can be deployed on-site, enabling reliable power supply.
In January 2023, the US Nuclear Regulatory Commission certified the first SMR in the country, making its industrial use possible. Kraken sees SMRs as a viable option over alternative energy sources like wind or solar, as they are not weather-dependent. Additionally, having backup nuclear power on-site would ensure continuous operation in the event of local power disruptions.
While a final decision on the use of nuclear energy has not been made, Kraken is leaning towards this option. The company is exploring the implementation of such projects at its facilities in North America and Europe to enhance its energy management and operational stability.
