Digihost and Nano Sign Pact to Pursue Nuclear Power in Upstate New York

Dow Jones12-13

By Denny Jacob

Bitcoin miner Digihost Technology and Nano Nuclear Energy signed an early agreement to generate power with small nuclear reactors, the latest move by a technology company to pursue nuclear energy to fuel the huge power needs of developing cryptocurrencies and artificial intelligence.

The two companies Friday announced a collaboration through a non-binding memorandum of understanding. As part of the collaboration, Nano will provide consulting services to Digihost to support the planning and execution of the project in Upstate New York, which will include regulatory advice, site assessment and more.

The companies are targeting 2031 for integrating Nano's microreactors within Digihost's operations. In the meantime, Nano will help optimize Digihost's existing gas-fired power infrastructure.

Tech companies are turning to nuclear to help meet the enormous electricity demands of developing artificial intelligence. Microsoft and Alphabet's Google have announced plans to pay for new nuclear power, and Amazon has a deal with Talen Energy to buy power directly from a Pennsylvania nuclear plant.

Shares of Nano were up 3.9% at $24 in premarket trading.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

December 13, 2024 09:23 ET (14:23 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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