Compass Mining Partners with Oklo to Advance Bitcoin Mining Operations With Advanced Fission – Mining Bitcoin News

Bitcoin mining company Compass Mining announced that it has partnered with Oklo Inc. for 20 years, a California-based company that uses advanced nuclear fission to produce clean, zero-emission energy. Oklo states that the company has pledged to provide Compass with 150 megawatts (MW) of clean electricity to fuel bitcoin mining operations.

Advanced Fission and Bitcoin Mining Connect

Recently, all kinds of renewable and sustainable energy sources have been used in Bitcoin mining processes as miners around the world utilize excess flare gas, hydropower, solar power and geothermal solutions.

Just recently, the Bitcoin Mining Council released a report that estimates that around 56% of Bitcoin’s SHA256 hashrate is powered by clean energy. Recently, many companies have switched to CO2-neutral methods of generating energy for Bitcoin mining.

On Wednesday, Bitcoin mining company Compass Mining announced that it is partnering with Oklo Inc. to acquire clean energy for its operations. Wednesday’s announcement describes that Oklo Compass will provide 150 MW of electricity for the first phase of the partnership.

Compass Mining is partnering with Oklo to run bitcoin mining operations with Advanced Fission
A rendered image of Oklo’s first advanced nuclear fission power plant. The facility is called Aurora and is located in the Idaho National Laboratory (IDL), which is administered by the Battelle Energy Alliance.

Oklo points out that the company’s advanced nuclear fission process can produce electricity for Compass for 20 years. In addition, there is never a need to refuel with advanced fission processes, and Oklo’s advanced fission power plants also utilize “nuclear waste-to-clean energy capabilities”.

Basically, advanced nuclear fission is a form of nuclear fission in which the nucleus of an atom is split into either two or many smaller nuclei. The process creates an output of neutrons and gamma photons that can be used for all kinds of energy purposes.

The splitting of heavy elements was first discovered in 1938 by Otto Hahn and Fritz Strassmann. Fission does not depend on fossil fuels, but the elements needed for advanced fission processes are difficult to find due to the use of elements such as uranium and plutonium. People have also dealt with the toxic waste left behind as it is an extremely difficult waste product to dispose of.

Oklo’s advanced fission method differs from the traditional nuclear fission formula

Oklo’s advanced fission method takes a different approach and doesn’t use moderators like water to slow down neutrons. Oklo does without this process, as it allows neutrons to move much faster by using a smaller facility. The company also employs a refined form of the uranium-235 isotope compared to the traditionally used uranium-238.

By using uranium-235, the Oklo reactor can run much longer than conventional nuclear fission plants, which have to be refueled more frequently. Jacob DeWitte, co-founder and CEO of Oklo, stated on Wednesday that the company looks forward to working with Compass Mining.

“We are proud to be breaking new ground in commercializing our powerhouses by partnering with Compass to decarbonize Bitcoin,” DeWitte said in a statement. “Cryptocurrency mining offers promising avenues to accelerate the adoption of clean energy technologies, and Oklo is able to respond to commercial demands by providing end users with the convenience of buying clean, reliable, and affordable power that they can rely on can leave. “Oklo manager added.

Whit Gibbs, Co-Founder and CEO of Compass, believes the partnership with Oklo will help “redefine the energy landscape for cryptocurrency mining.” Earlier this year, Oklo also became the first in its industry to receive an application approved by the US Nuclear Regulatory Commission (NRC) to build and operate an advanced nuclear fission plant.

“Compass is thrilled to be working with a cutting-edge team like Oklo,” added Gibbs. “Together we can push the Bitcoin mining industry into a new phase of cheap and reliable energy from advanced nuclear fission. Every Bitcoin miner understands the need for cheap, reliable energy. “

What do you think of the partnership between Oklo and Compass Mining? What do you think of bitcoin miners using advanced fission techniques? Let us know in the comment section below.

Tags in this story

Advanced Fission, Bitcoin Miner, Bitcoin Mining, Bitcoin Mining Council, BTC Mining, Clean Energy, Compass Mining, Isotop, Bitcoin Mining, Moderators, Neutrons, Nuclear Fission, Oklo, Nuclear Fission, Sustainable Energy, Uranium-235

Photo credits: Shutterstock, Pixabay, Wiki Commons, Okla,

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