Kraken Eyes Nuclear Power for Data Centers Amid DeFi Boom

Kraken is exploring nuclear power as an option to fuel its data centers in response to growing demand for decentralized finance (DeFi) services. The company's chief technical officer, Vishnu Patankar, revealed this in a recent interview with CoinDesk.

Patankar emphasized the importance of reliable energy supply for supporting crypto ecosystem growth, citing the constant and round-the-clock nature of cryptocurrency transactions. He noted that institutions are increasingly moving into the crypto asset class, which is driving demand for reliable fiat onramps.

Kraken is investigating partnerships with energy providers using small modular reactors (SMRs), which can be co-located with data centers and are not constrained by space or weather conditions. This move aligns with a broader trend in the tech industry, where companies like Core Scientific are shifting their focus to supply infrastructure for power-hungry AI companies.