Riot Platforms surged 57% in May after partnering with nuclear reactor developer Terrestrial Energy to power its Bitcoin mining and AI data center operations.
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Riot Platforms gains 57% in May on nuclear-powered AI data center deal
Riot Platforms surged 57% in May after partnering with nuclear reactor developer Terrestrial Energy to power its Bitcoin mining and AI data center operations.
Riot Platforms Inc. rose 57.3% in May, extending its year-to-date gain to 114% as of June 4, after the Bitcoin miner and AI data center operator partnered with Terrestrial Energy to co-locate molten salt nuclear reactors at its facilities in Texas and Kentucky. The stock surged 27% in two days following the May announcement, according to data from S&P Global Market Intelligence.
"Riot gets a dedicated nuclear power plant as a neighbor, Terrestrial Energy gets a customer who will consume every electron they produce, and both companies benefit from the AI computing boom on clean energy," the partnership announcement stated. Terrestrial Energy's stock also rose on the news, ending May 26% higher.
Terrestrial Energy's molten salt reactors dissolve nuclear fuel directly into liquid salts such as lithium fluoride and beryllium fluoride, with the mix acting as both fuel and coolant for the reactor core. The design allows high-temperature operation, efficient power generation, and a compact modular layout, with the radioactive components potentially located miles away from the data centers. The companies plan to add reactors near Riot's existing sites in Texas and Kentucky and will work together to identify further growth opportunities.
The nuclear ambition remains a long-term plan with no binding contracts or construction timelines announced. Terrestrial Energy hopes to secure funding and regulatory approval for its first molten salt reactors in the early 2030s. Riot has not committed to any purchases and retains the option to pivot back to pure Bitcoin mining if AI computing demand slows.
After its AI-powered surge, Riot trades at 16 times trailing sales, well above peers such as MARA Holdings and CleanSpark, both of which are pursuing similar Bitcoin-plus-AI business models. The nuclear deal is a 2030s story priced into a 2026 stock, meaning investors buying at current levels are betting that the AI tailwind sustains for years. If both AI computing and Bitcoin mining face slowdowns by 2030, Riot has made no binding commitments to the nuclear project.
This article is for informational purposes only and does not constitute investment advice.
