Kraken Explores Nuclear Power for Data Centers Amidst DeFi Boom

Crypto exchange Kraken is considering using nuclear energy to power its data centers, citing the need for reliable energy to support the growth of decentralized finance (DeFi) and its own services. Kraken's chief technical officer (CTO), Vishnu Patankar, believes that nuclear power offers a stable and scalable solution, especially as traditional energy sources face increased strain from high-performance computing (HPC) and artificial intelligence (AI) firms. Kraken is exploring partnerships with energy providers to supply small modular reactors (SMRs), which are seen as more efficient and adaptable than traditional nuclear plants. This move comes as other tech companies, including Amazon Web Services, are also exploring nuclear energy to power their data centers. While nuclear energy faces criticism for its environmental impact, Kraken sees it as a more environmentally friendly option compared to traditional power sources, especially since excess energy can be used to power data center cooling systems.