AI vs Bitcoin: Google Secures 890 MW of Nuclear Power

Our children will have access to electricity that is too cheap to be billed. Twenty-year contract, 890 megawatts (MW) additional, and eleven reactors to modernize. After Microsoft, Meta, and Amazon, Google is also reserving nuclear power for its data centers. However, bitcoin miners are already competing for this electricity market. Its agreement with the American operator Constellation Energy, announced on October 6, concerns the PJM network, which serves 67 million residents. Constellation is investing over $4.3 billion in it.

Key points of this article:

• Google has signed a twenty-year contract with Constellation Energy for 890 megawatts of additional nuclear power.
• AI giants are securing their electricity long-term, while bitcoin miners depend on the price of BTC.

890 MW of nuclear, but not a single new reactor

The Constellation statement describes a twenty-year electricity purchase agreement. To achieve this, Constellation is increasing the output of eleven existing nuclear units. They are spread across six sites in Illinois, Pennsylvania, and New Jersey. This technique is known as uprate (increasing the power of an already operational reactor). It delivers 890 MW of additional capacity, equivalent to a large reactor according to the operator.

More nuclear energy is coming to PJM. Our agreement with @Google will add 890 MW of reliable, emissions-free capacity -- equivalent to a new reactor -- backed by $4.3B+ in private investment. Deal will also sustain and create thousands of jobs. More info ↙️ https://t.co/6cf4KDpv9E pic.twitter.com/qHGcfmKPTO --- Constellation (@ConstellationEG) October 6, 2026 < < More nuclear energy is coming to the PJM grid. Our agreement with @Google will add 890 MW of reliable, emissions-free capacity, equivalent to a new reactor, supported by over $4.3 billion in private investment. The agreement will also sustain and create thousands of jobs.> >

Constellation Energy, on X, October 6, 2026

The first delivery is expected in 2028. Constellation is committing over $4.3 billion. A second 15-year contract also covers 2,700 MW from its current fleet, without new capacity. Thus, the two agreements total 3,590 MW, but only a quarter comes from power uprates.

Constellation Soars on the Stock Market

The market reacted immediately. On Tuesday, October 6, CEG shares rose to $309.80 during trading, an increase of nearly 16%. It then closed at $300.40 (+12.2%), according to Nasdaq data. However, the stock remained down 15% since January 1. The VanEck Uranium and Nuclear ETF gained 5.5% during the session. Oklo (+7.2%), NANO Nuclear (+6.3%), and NuScale (+4.4%) also saw increases.

For Constellation's CEO, Joe Dominguez, the agreement < < can serve as a model > >. He speaks of cooperation between tech companies and the energy sector. However, this model has precedents. Microsoft purchases electricity from the restart of Three Mile Island in Pennsylvania. Meta has agreements in Ohio, Pennsylvania, and Illinois, and Amazon has signed in Maryland. Google comes after them and pays for twenty years.

Bitcoin Miners vs AI: The Battle for Megawatts

Bitcoin mining consumes between 13 and 25 gigawatts continuously worldwide. This is the estimate from Cambridge's tracking, cited by CoinDesk in April. According to the same article, AI is among the top sources of new electricity demand in the United States. A gigawatt leased to an AI company generates predictable and contractual cash flows. In contrast, the same gigawatt dedicated to mining depends on the price of bitcoin and network difficulty.

Miners have done their calculations. Core Scientific has converted part of its capacity to AI hosting through a contract with CoreWeave. IREN (formerly Iris Energy) and Hut 8 are also boosting their revenues in high-performance computing. The hashrate (network computing power) exceeds 1 zettahash per second. Predictable contracts attract more than mining.

Google is pre-purchasing its electrons for twenty years. Many bitcoin miners are already betting on AI to navigate the bear market. But they do not have this checkbook. The first additional megawatt from the agreement will not arrive until 2028.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.