Russian President Vladimir Putin has raised a striking claim regarding the future of the Zaporizhia Nuclear Power Plant (ZNPP), Europe's largest nuclear power plant. According to reports in the Russian press, Putin stated that the US has expressed interest in allowing cryptocurrency mining at the plant as part of ongoing peace negotiations. Kommersant reported that Washington is considering using the facility for energy-intensive cryptocurrency mining in exchange for a potential stake or partnership. The nuclear power plant is located in southeastern Ukraine and has been under Russian control since 2022. Before the war, ZNPP played a critical role in Ukraine's electricity supply and is of strategic importance not only in terms of energy production but also in terms of regional grid stability and security. Therefore, who will operate the plant in the future and under what model remains one of the most contentious issues in diplomatic contacts regarding the Russia-Ukraine conflict. According to Kommersant, negotiations are underway between Russia and the United States regarding the joint management of the power plant, and a scenario in which Ukraine is completely excluded is among the options being considered. In contrast, the BBC reports that the US has proposed a tripartite operating model including Russia and Ukraine, with each side having an equal share. This approach aims to operate the plant within a technical and commercial framework, free from political tensions.
50-50 Proposal from Ukraine
Statements from the Ukrainian side indicate a different balance. According to sources speaking to Reuters, the Kiev government has proposed a 50-50 joint venture operation of the plant between the US and Ukraine. According to this model, Ukraine would directly receive half of the electricity produced by the plant; the US would then decide on the use of the remaining portion alone. As reported by Euronews, the Ukrainian side is operating on the assumption that the US could allocate a portion of its share to Russia. Control over the ZNPP is not limited solely to energy production. The electricity supply to cities in southern Ukraine, regional grid stability, and nuclear safety are directly linked to this facility. Adding the cryptocurrency mining aspect further complicates the matter. Nuclear power plants offer uninterrupted and relatively low-cost electricity production, making them an attractive infrastructure, especially for mining energy-intensive crypto assets like Bitcoin. However, uncertainties surrounding the plant's status make it difficult to implement such projects in the short term. A clear agreement has not yet been reached between the parties. Therefore, the idea of cryptocurrency mining at ZNPP is currently considered part of diplomatic negotiations. Without a change in the military situation and political balance on the ground, such an investment seems unlikely to materialize. Meanwhile, ceasefire efforts are gaining momentum. As the war enters its fourth year, US President Donald Trump has intensified diplomatic contacts for a peace agreement. Territorial arrangements, security guarantees, and economic cooperation are among the key topics in these discussions. Ukrainian President Volodymyr Zelenskyy told Reuters that progress had been made with the US on a peace plan consisting of approximately 20 points. Putin, meanwhile, indicated that they were open to some concessions, but maintained his firm stance on the Donbas region.
