Kraken, a major cryptocurrency exchange, is considering the use of nuclear energy to power its data centers. This exploration comes as the company anticipates a boom in decentralized finance (DeFi) and increasing demand for its services. Vishnu Patankar, Kraken’s Chief Technical Officer, disclosed in an interview with CoinDesk that the firm is not looking to build its own reactors but plans to partner with energy providers that can supply small modular reactors (SMRs).

The demand for energy from artificial intelligence (AI) and high-performance computing (HPC) firms is reshaping power stability, prompting Kraken to explore nuclear energy options in North America and Europe. These SMRs can be co-located with data centers without significant space or weather constraints.

The consideration for nuclear energy aligns with the company’s need for a constant energy supply due to the 24/7 nature of crypto trading. Patankar emphasized that securing energy resiliency would enable Kraken to continue offering round-the-clock services globally, even in the face of potential local energy disruptions.

Kraken joins other tech firms, such as Amazon Web Services, which are also contracting with nuclear plants to meet energy demands. The move towards nuclear power is seen as a means to support the anticipated growth in DeFi and manage the rising energy needs more reliably compared to alternatives like wind and solar energy.

The final decision has yet to be made, but Kraken highlighted the potential of nuclear power to add redundancy and secure energy resiliency, essential for maintaining its global trading operations.