Kraken is considering using nuclear power to power its data centers
2024-07-02 15:35:21
Crypto exchange Kraken is considering using nuclear power to power its data centers. Vishnu Patankar, Kraken's CTO, said in an interview that with the rise of decentralized finance (DeFi) and increased demand for services, the company is looking to partner with energy providers that can provide small modular reactors (SMRs) to ensure a stable energy supply. Kraken is exploring nuclear options in North America and Europe in response to the huge growth in demand for electricity from artificial intelligence (AI) and high-performance computing (HPC) companies. Patankar noted that nuclear power can provide Kraken with a stable energy supply that is not limited by space and weather, thus supporting its 24/7 operation and growth in global trading volume. Although Kraken has not yet made a final decision, nuclear power is seen as a more reliable option than wind and solar, as the latter relies on weather conditions and energy storage challenges.
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