Russia and the United States are holding talks that combine politics, energy, and Bitcoin. At the center of these discussions is the Zaporizhzhia Nuclear Power Plant and the idea of using its electricity to mine Bitcoin.

These talks are also connected to wider negotiations about a possible peace plan for Ukraine. Russian President Vladimir Putin has confirmed that the Zaporizhzhia nuclear plant is part of these discussions with the United States.

Kommersant, a national Russian news outlet, reported on Thursday that according to Putin, American officials have shown interest in using the plant’s electricity from Zaporizhzhia for Bitcoin mining. The Zaporizhzhia Nuclear Power Plant is the largest nuclear facility in Europe. It is located near the city of Enerhodar in southern Ukraine.

Russian forces took control of the plant in March 2022, shortly after the war began. Before the conflict, the plant provided about 20% of Ukraine’s electricity.

Since September 2022, all six reactors at the plant have been shut down for safety reasons. The facility is currently not producing electricity for the power grid. Even so, it remains a very important site because of its size, location, and energy capacity.

According to the Kremlin, Russia and the United States are discussing the possibility of jointly managing the plant, without Ukraine’s involvement. Kremlin spokesman Dmitry Peskov said contacts took place after the U.S. delivered proposals related to a possible peace agreement.

“The information was reviewed and on behalf of President Putin, contact was established between the Russian and US administrations,” Peskov said, adding that both sides agreed to continue talks.

One of the most unusual parts of the discussions is the idea of Bitcoin mining at the nuclear plant. Before the war, Zaporizhzhia produced far more electricity than nearby areas needed. Reports say it generated around 136.8 gigawatt-hours of electricity per day, creating a large surplus.

Bitcoin mining needs a constant and powerful supply of electricity. Nuclear power is well-suited for this because it produces energy continuously. Putin suggested that mining could be a practical way to use excess electricity that would otherwise go to waste.

Supporters of nuclear-powered Bitcoin mining say it could help balance energy systems. Instead of shutting down power production, excess electricity could be used for mining.

Shutting down nuclear reactors is not easy when there is surplus electricity, but shutting down bitcoin miners is just a click away when there is an energy shortage. So pairing the nuclear power plant with a Bitcoin mining facility would be a very strategic idea.

Around the world, many Bitcoin miners are already turning to nuclear, hydro, and renewable energy to lower costs and ensure stable power. Ukraine strongly opposes any decisions about the Zaporizhzhia plant made without its participation.

President Volodymyr Zelenskyy has said the plant is one of the most difficult issues in Ukraine’s peace plan. He has made clear that Ukraine wants to regain control of the facility.

Zelenskyy has also mentioned a U.S. proposal in which Ukraine, Russia, and the United States would each control one-third of the plant, with the U.S. acting as the main manager. So far, there is no agreement on this idea.

International organizations have raised serious concerns. The International Atomic Energy Agency (IAEA) has warned that nearly all basic nuclear safety rules at the plant are currently being violated. The agency has also said the reactors cannot be safely restarted under current conditions.

Bitcoin mining already plays an important role in Russia’s economy. Reports say Russia is one of the world’s largest Bitcoin-mining countries, accounting for more than 16% of global Bitcoin computing power. Russia’s central bank has said mining may even be helping support the ruble, although much of the industry operates with limited oversight.