Mining Bitcoin with Nuclear Energy with Ryan MacLeod - WBD577

Ryan MacLeod is a Bitcoiner working in the reactor research and
safety programs at Canadian Nuclear Labs. In this interview, we
discuss the importance and safety of nuclear energy, and how Ryan
is trying to orange pill the nuclear industry by showing how
Bitcoin aids the economic case.


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The growing consensus is that nuclear energy needs to play a
critical part in providing society's energy needs. It is both a
low-carbon energy source, energy-dense, and (dependent upon
operation) reliable. And yet, nuclear only provides 10% of the
world’s energy needs, down from 18% in 1996. Whilst the IAEA
forecasts only a 12% contribution by 2050 in its high-case
projection.


The issue to date has been the safety concerns regarding nuclear
energy. High-profile accidents have clouded the public’s
perception of the nuclear industry and influenced anti-nuclear
policies in numerous countries. The build-out of new nuclear
capacity dropped significantly after Chernobyl, an accident that
some feared had come close to making half of Europe
uninhabitable.


The reality is that Chernobyl was an accident unlike any other,
which indicated the malaise of a waning superpower, rather than
an industry that was inherently dangerous. Since then, reactor
technology and the treatment of waste have continued to improve.
We are now on the cusp of countries being able to roll out Small
Modular Reactors that are cheaper, safer and more scalable than
existing designs. It has the potential to revolutionize nuclear
power just when we need it.


And yet, the economics of nuclear energy are still challenging.
High capital costs mean that nuclear facilities need to have a
high capacity to make the investment worthwhile. Cheaper energy
from solar and wind are adding to the complexity of the issue.
There are other uses for nuclear energy that can be monetised,
but these have their own specific infrastructure and operational
requirements.


This is where Bitcoin mining could provide a bridge. It
eliminates the concept of surplus baseload generation, bolstering
the economic bottom line of both old and new reactors. And it can
do this from day one. So, could Bitcoin mining be the catalyst
for a renaissance of the nuclear industry? If so, it will be
young professionals such as Ryan MacLeod who are helping to lead
the change.