URANIUM ENERGY: Powering data centers!

The American uranium company URANIUM ENERGY - like the Canadian company MUSTANG ENERGY - is a beneficiary of the increasing demand for larger and smaller nuclear power plants. The focus is on data centers with a huge "hunger for electricity". The USA is experiencing a construction boom for data centers, especially for "power-hungry" applications such as AI or cryptocurrency mining. According to the International Energy Agency (IEA), almost half of all the electricity used to operate data centers worldwide was consumed in the USA last year. Global consumption by computer centers is expected to more than double by 2030. In the USA, the expected increase is so great that almost half of the additional electricity demanded by 2030 will come from data centers, the IEA estimates. The demand for electricity appears to be so huge that the Meta Group wants to buy the electricity production of an entire nuclear power plant in Illinois from 2027... and until 2047! The plant, which went into operation in 1987, was actually due to go offline in June 2027. In the last ten years, it has only been able to stay afloat thanks to subsidies. According to the operator, the nuclear power plant in Illinois fed a good 8 million megawatt hours of electricity into the grid in 2023. According to the internal sustainability report, Meta's data centers consumed around twice as much in the same year. Meta is not alone in its bet on nuclear energy. Microsoft also concluded a similar deal with the same energy supplier in the fall. In Meta's case, the details of the contract are not known. But in the case of the Microsoft deal, experts estimate that the IT giant is paying at least USD 100 per megawatt hour for the electricity. This is a good 40% higher than the price for renewable electricity at the same location.

The tech companies are thus confirming the future development (high demand, high prices). The construction of new nuclear power plants is also a fact! Price target of USD 8.30 soon a reality!