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Seeking Alpha 2021-03-10 20:17:03

Ukraine's Energy Crisis Is Bullish For Bitcoin

One of the world's largest nuclear power producers, Energoatom of Ukraine, takes the first step to building a major cryptocurrency mining operation.Ukraine's cryptocurrency and data center facilities may eventually use up to 2,000 MW of power capacity.Bitcoin remains an attractive asset, its strength fueled by growing acceptance among major companies, such as Tesla, Mastercard, Square, and BNY Mellon.Recent policy changes, however, favor fossil fuel-burning power plants and may jeopardize cryptocurrency mining projects.Investors are likely to stay away until the government stops catering to oligarch groups and restarts reforms. Until then, Ukraine is likely to remain an energy colossus on feet of clay.

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