US eyes crypto mining at disputed nuclear plant in Russia-Ukraine conflict: report
Russian President Vladimir Putin said in a recent meeting with business leaders that the U.S. has expressed interest in establishing cryptocurrency mining operations at the Zaporizhzhia Nuclear Power Plant (ZNPP), according to a report from Russian news outlet Kommersant.The report said Washington intends to use a proposed stake in the ZNPP for crypto mining as part of the ongoing U.S.-Russian negotiations.Located in southeastern Ukraine, the ZNPP is Europe's largest nuclear power plant and played a central role in Ukraine's electricity supply and grid stability. The plant has been occupied by Russia since 2022, making it a recurring flashpoint in peace talks as competing proposals over ownership and power distribution clash.According to the Kommersant report, Russia is in talks with the U.S. over a potential joint management arrangement for the plant that would exclude Ukraine. Conversely, the BBC reported that the U.S. has proposed a plan for the nuclear plant to be jointly operated by all three countries, with equal stakes in the enterprise.Meanwhile, Ukraine has countered with a proposal for a 50-50 joint venture between the United States and Ukraine to operate the ZNPP, under which Ukraine would receive half of the plant's electricity output and the U.S. would independently allocate the remainder, according to Reuters. Euronews reported that Ukraine assumes that the U.S. would allocate a portion of its part to Russia.Control over the ZNPP determines who manages a major source of electricity for southern Ukraine, influences grid stability across the region, and carries major security implications. With no consensus yet on the ZNPP, the viability of proposed crypto mining operations at the site remains uncertain.Ceasefire effortsAs the Russia-Ukraine conflict extended to its fourth year, U.S. President Trump intensified diplomatic efforts to broker a ceasefire and peace deal, with a focus on territorial compromises, security guarantees, and economic arrangements.Ukrainian President Volodymyr Zelenskiy said on Wednesday that Ukraine and the U.S. moved closer to reaching a 20-point peace deal, according to a Reuters report. Putin also reportedly said Russia is ready to make concessions, although he remained adamant over Donbas, another territory under dispute.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.