According to @KobeissiLetter, Bloomberg reports that NextEra Energy NEE plans to restart a 615-megawatt nuclear plant in Iowa primarily to supply Google data centers, the unit has been shut since 2020, and power deliveries are targeted by 2029, source Bloomberg via The Kobeissi Letter on X on Oct 27, 2025 at x.com/KobeissiLetter/status/1982800274130387288. According to @KobeissiLetter, NEE shares rose sharply on the report, indicating investor focus on nuclear and utility exposure to AI-driven baseload demand, source The Kobeissi Letter on X on Oct 27, 2025 at x.com/KobeissiLetter/status/1982800274130387288. According to @KobeissiLetter and corroborating industry disclosures, for crypto markets the key read-through is that electricity is the largest operating cost for Bitcoin miners and long-term data center power procurement is material to mining margins and hash rate sensitivity, source Marathon Digital Holdings FY2023 Form 10-K and Riot Platforms FY2023 Form 10-K. According to @KobeissiLetter, trading implications include monitoring NEE and other nuclear-exposed utilities for AI power contracts and tracking listed Bitcoin miners whose profitability hinges on power prices and availability, source Bloomberg via The Kobeissi Letter on X for the NEE-Google development and Marathon Digital Holdings and Riot Platforms FY2023 Form 10-Ks for miner cost structures.

According to @KobeissiLetter, the US Department of Energy projects US data centers will consume 325,000-580,000 GWh per year by 2028, roughly equal to the electricity use of about 40 million homes (source: US Department of Energy via @KobeissiLetter). According to @KobeissiLetter, meeting 580,000 GWh would require about 73 average nuclear plants at 8,000 GWh each, yet the US has added only two reactors since 1995 and each takes over 10 years to build, underscoring a capacity shortfall into 2028 (source: @KobeissiLetter). According to @KobeissiLetter, this makes achieving the needed generation by 2028 unlikely at current build rates, signaling a potential power supply constraint for AI build-outs (source: @KobeissiLetter). For crypto, electricity is the dominant operating cost in Bitcoin mining, directly linking miner profitability to power prices and grid tightness (source: Cambridge Bitcoin Electricity Consumption Index). Therefore, the DOE’s projected data center load growth represents a material electricity-market risk factor for BTC miners’ cost curves and hashrate expansion that traders should monitor (source: US Department of Energy via @KobeissiLetter; Cambridge Bitcoin Electricity Consumption Index).