Mentioned:
One of the leading publicly traded companies focused on Bitcoin mining and high performance computing has a new ambition: nuclear energy.
What’s happening:
- Riot Platforms (NASDAQ: RIOT) has formed a new partnership with Terrestrial Energy (NASDAQ: IMSR) to deploy small modular nuclear power plants directly on location at Riot Platforms’ data centres
Why it matters:
- This is the first time ever that Riot Platforms has struck a collaboration with a nuclear energy company to deploy small modular reactors at their own data centres
Going deeper:
- Riot Platforms has publicly stated they plan to deploy multiple of Terrestrial Energy’s flagship IMSR nuclear power plants that can generate 390 megawatts of power to have access to up to 4 gigawatts of total nuclear power capacity
- Terrestrial Energy previously made major waves on Wall Street when they went public through a SPAC transaction with HCM Acquisition Corp II which provided them with roughly $292M USD in growth capital
The fine print:
- Terrestrial Energy and Riot Platforms have not yet publicly disclosed when they will begin deploying Terrestrial Energy’s IMSR nuclear power plants
