Riot Platforms, a US-based Bitcoin mining firm, has signed a non-binding Memorandum of Understanding (MoU) with Terrestrial Energy, a small modular reactor (SMR) developer, to explore the co-location of nuclear energy assets with data centers.

As part of the tie-up, the two companies will assess sites in the US for potential deployments, including at existing Riot facilities in Texas and Kentucky, as well as additional locations. The partners aim to deploy multiple reactors across several sites representing up to 4GW of new nuclear capacity.

“This partnership brings together two companies with sector-leading capabilities to unlock the tremendous value in IMSR Plant supply to data center operations and to build long-term strategic depth in Riot Platforms’ power-first strategy,” said Simon Irish, CEO of Terrestrial Energy. “Riot has proven it can build and operate large-scale digital infrastructure, and our small and modular IMSR Plant is designed to deliver the reliable, low-cost power those operations need. Together, we see a clear path to deploying IMSR’s clean energy at scale for AI and HPC.”

“Our data centers require reliable and predictable energy at the scale demanded by today’s hyperscale customers,” added Jason Les, CEO of Riot Platforms. “Partnering with Terrestrial Energy positions our facilities at the forefront of data center deployment, utilizing clean energy and benefitting both our customers and the communities we operate in. The consistent baseload of power required by data centers presents an ideal pairing for development alongside Terrestrial’s IMSR Plants. This partnership will bring reliable, innovative power online while diversifying Riot’s sources of power and creating new opportunities for future data center deployment.”

Terrestrial is developing a Generation IV SMR based on molten salt reactor technology. The SMR is expected to have a capacity of 190MW and be modular in design, allowing for easy deployment. Terrestrial aims to commission its first IMSR power plants in the early 2030s.

The company partnered with Schneider Electric in April 2024 to jointly develop commercial opportunities and advance the deployment of SMRs. In August of last year, the company was selected as one of 11 advanced nuclear reactor projects to participate in the US Department of Energy’s Nuclear Reactor Pilot Program.

The company is the latest SMR developer to partner with a data center firm. Notable examples include Amazon, Google, Data4, Oracle, Switch, and Equinix. No SMRs have yet been deployed, however.

Formerly known as Riot Blockchain, Riot is one of the world’s largest Bitcoin miners, but has been in discussions about a pivot towards AI and HPC data centers since 2024.

Riot owns and manages more than 1,100 acres and 1.7GW of power capacity across its two Texas facilities. It also owns two operational sites in Kentucky, totaling 60MW, after acquiring Block Mining in July 2024. The sites could total more than 300MW at full build-out.