Big MW Crypto Mine Coming to PA

The very first "nuclear powered" crypto currency mine is opening in PA. Find out how it could affect your future electricity bills.

Country’s First Nuclear Data Center Coming to PA

Crypto currency mining is growing and the very first nuclear- powered operation is starting up in PA. Find out how it could affect your future electricity rates.
The very first “nuclear powered” crypto currency mine is opening in PA. But with more mines partnering with power companies, high demand could drive up future electricity rates. Find out what you need to know.

The first nuclear powered data center has opened its doors near Berwick, PA. And it already has its first tenant. TeraWulf, a Maryland-based BitCoin mining company, has taken the space. But what does a crypto mine mean for local energy rates? Here’s how this new data center could affect your electricity bills

First Crypto Mine of its Kind

While there are over 2,600 data centers in the US, this one is special. The 1200 acre campus, owned by Cumulus Data, uses carbon free electricity. And it all comes from its connection to the Susquehanna Steam Electric Station.

Cumulus Data plans to build powered data shell centers. These buildings come with finished exteriors, power, and internet access. However, the inside is unfinished. This way, a company leasing the space can customize it to suit its needs. That’s especially important when it comes to using a lot of power. The first data shell center can power 48 MW. And TeraWulf is using this one for BitCoin mining. Because of that, Cumulus Data plans on building more on the campus. Ultimately, that will add up to a total electricity capacity of 475 MW.

Crypto miners rely on fossil fuel powerplants. Right now, green energy powers only 20% of crypto mining. Both companies say they want to make data centers greener, more reliable, and low cost.

Low cost and reliable power are key points in this project. Talen Energy not only owns the nuclear power station but also owns Cumulus Data. In recent years, nuclear power plants struggled to compete against natural gas power plants. So, Cumulus Data’s money-making scheme comes with little surprise. After all, more and more power companies are now partnering with crypto miners.

Still, PPL customers paying the PTC rate of 14.61 cents per kWh should be allowed to scowl. TeraWulf signed a 2 year power purchase agreement with Cumulus Data for just 2 cents per kWh.

Crypto Mining Drives Electricity Rates Up

Crypto mining works by using computers to solve complex puzzles to process bitcoin exchanges. The miners also receive their own bitcoins. However, over time the puzzles grow more and more complex. So, miners must bring in more power and advanced computers to mine the bitcoins. Worldwide, crypto mining eats 150 Terawatt hours every year. That’s more than the entire country of Norway.

Because of the high energy usage, evidence suggests crypto mining may help increase local electricity rates. As more crypto mines open up in the U.S., these power hungry operations could strain electricity grids. And with summers getting hotter, more customers may see higher energy prices on their bills.

Keep Your Electricity Rates Low

So with the threat of increased demand pushing prices higher, what should you do? The best way to avoid possible rate increase is to swap to a fixed-rate electricity plan. And with spring around the corner, PA electricity prices should be at their lowest for the year! Don’t wait! Visit today!

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