Putin Eyes US-Joint Management of Zaporizhzhia Nuclear Plant for Bitcoin Mining - Russian Media

Russia considers a radical energy pivot—repurposing a captured nuclear facility for cryptocurrency.

Geopolitics Meets Hash Rate

Russian state media reports President Putin is weighing an unprecedented proposal: joint US-Russian management of the Zaporizhzhia Nuclear Power Plant. The stated goal isn't grid stability, but dedicating its massive output to industrial-scale Bitcoin mining operations.

A Power Play, Literally

The plan would see the plant's reactors—some of Europe's largest—divert energy from the Ukrainian grid to power vast arrays of mining rigs. Proponents argue it monetizes an otherwise contested asset, turning a geopolitical liability into a revenue stream. Critics see it as a dangerous precedent, weaponizing critical infrastructure for financial speculation.

The Ultimate Fixed-Income Asset?

For the crypto industry, it represents a staggering potential influx of cheap, baseload power—the holy grail for miners constantly hunting for energy arbitrage. For traditional finance watchers, it's the ultimate cynical hedge: backing a volatile digital asset with the steady fission of uranium. Talk about diversifying your portfolio.

If this moves beyond rumor, it wouldn't just disrupt energy markets—it would fuse nuclear diplomacy with the proof-of-work economy, creating a financial instrument with fallout.

Putin confirms talks with the US over plant control and mining – Russian Media

Putin’s State Council meeting reportedly focused on personnel training, but Putin apparently openly spoke about Zaporizhzhia, though the talks exclude Ukraine from decision-making and place Russia and Washington at the center of operational planning for the nuclear site.

Crypto mining already plays a role in Russia’s financial system. Central Bank Governor Elvira Nabiullina said mining could be an additional factor behind ruble strengthening.

Speaking at a press conference on Wednesday, she said it is hard to measure the effect because a large part of the sector operates in a gray zone.

Earlier last week, Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office, had said forum that 2026’s ruble price forecasts were off because financial flows linked to crypto and mining were underestimated.

Maxim said this sector has turned into a new export channel and now influences foreign exchange markets. Oreshkin said the Bank of Russia is assessing these flows so they can be included in the balance of payments, noting that many of these transactions bypass standard reporting routes.

Mining is now regulated in Russia, thanks to a notice by the country’s central bank on November 1st 2024, which said that retail entrepreneurs and companies registered with the Federal Tax Service can legally mine crypto in Russia.

Private individuals can mine without registration if they stay within a 6,000 kilowatt-hour energy limit and report income, while companies that run mining infrastructure, including data centers and hosting services, must register with the tax authority.

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