Russian President Vladimir Putin has claimed that the United States is showing interest in Ukraine’s Zaporizhia Nuclear Power Plant (ZNPP) not only as a strategic energy asset, but also as a potential site for large-scale cryptocurrency mining.
His remarks, made during a meeting with Russian business leaders on December 25, add a new and controversial dimension to ongoing U.S.-led peace efforts surrounding the war in Ukraine.
According to Putin, Washington and Moscow have discussed the possibility of jointly managing the ZNPP, which has been under Russian control since early 2022. He stated that the idea originated from the U.S. side and suggested that American interest is linked to the plant’s massive electricity-generating capacity, which could be leveraged for energy-intensive crypto mining operations. Putin also emphasized that Russia has no intention of allowing Ukraine to participate in the plant’s management under any arrangement.
The Russian leader further noted that proposals are being discussed to supply electricity from the ZNPP back to Ukraine, again at U.S. initiative. While Ukrainian specialists continue to work at the facility, Putin asserted that they have all accepted Russian citizenship, reinforcing Moscow’s claim of de facto control.
The Zaporizhia facility, located in Enerhodar in Ukraine’s Zaporizhia region, is Europe’s largest nuclear power plant and has been one of the most sensitive flashpoints in the conflict. Both Russia and Ukraine have repeatedly accused each other of shelling the surrounding area and risking a nuclear disaster. Russia has attempted multiple times to integrate the plant into its own power grid, though these efforts have so far failed.
Kyiv has consistently demanded the withdrawal of Russian troops from the site and the establishment of a demilitarized zone around the plant, proposals that Moscow has firmly rejected. Control of the ZNPP has now emerged as one of the most contentious elements in broader peace negotiations.
The plant reportedly features in a 28-point peace roadmap proposed by U.S. President Donald Trump. Ukrainian President Volodymyr Zelensky has described the ZNPP issue as one of the most difficult aspects of the U.S. plan, acknowledging that both sides are struggling to find a workable compromise.
Under one version of the U.S. proposal, the plant would be jointly operated by Ukraine, the United States, and Russia. Zelensky has publicly criticized this idea as unfair, arguing that Russia should be excluded entirely from any role in managing the facility. Moscow, by contrast, insists it is capable of operating the plant independently.
Kremlin spokesman Dmitry Peskov said Russia is still reviewing Washington’s peace proposals following the return of President Putin’s special envoy, Kirill Dmitriev, from talks in Miami. Meanwhile, Zelensky has presented an alternative plan that would place the ZNPP under joint U.S.–Ukrainian management, split evenly between the two countries. His proposal also calls for territorial concessions from Russia, the maintenance of a large peacetime Ukrainian army, and legally binding security guarantees from the U.S., NATO, and European partners.
Moscow has rejected these demands outright, accusing Ukraine and its European allies of sabotaging U.S. peace efforts. Kremlin foreign policy aide Yury Ushakov stated that the terms being proposed are unacceptable to Russia and undermine the prospects for a durable settlement.
Putin’s comments about cryptocurrency mining underscore how the ZNPP is no longer viewed solely through the lens of nuclear safety or wartime control. Instead, it is increasingly being framed as a strategic economic and technological asset, complicating negotiations and highlighting how energy infrastructure, geopolitics, and emerging digital industries are becoming deeply intertwined in the search for an end to the conflict.
