Ukraine Wants to Be Cryptocurrency Central Imagine you’re a country with a so-so economy, exporting mostly metals and agricultural products but without a great deal of foreign investment. How do you transform yourself into a hot destination for international money? Ukraine believes it has the answer: It’s betting big on cryptocurrencies. That could make the sorrow-stricken country a global hotbed of cutting-edge financiers. But the cryptocurrency moves could also spell trouble. A plant for mining bitcoin, a process by which computing power is effectively exchanged for the cryptocurrency, will soon rise near Zaporizhzhia Nuclear Power Plant, not far from Ukraine’s border with Russia. Zaporizhzhia is Europe’s largest nuclear power plant, but the to-be-constructed cryptocurrency operation—signed by Ukraine’s government-owned nuclear plant operator Energoatom and a private firm called H2 last year and involving a $700 million investment—is focused on power consumption, not power generation. It will draw on Zap
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