Uranium spot prices have settled into a comfortable range around $85 per pound, and long-term contract prices for U3O8 are sitting at $90 per pound, a level not seen since 2008, according to Cameco data.
Data center electricity demand is expected to more than double by the end of the decade. Nuclear power offers consistent baseload generation for hyperscale computing facilities that need 99.999% uptime. Major tech companies have started signing nuclear power purchase agreements. On the supply side, new uranium mining projects take years to bring online, and even if every planned mine broke ground tomorrow, production wouldn’t catch up with demand anytime soon.
Bitcoin miners pivot to AI, nuclear enters the conversation
Several companies that built their businesses around Bitcoin mining are now repurposing their infrastructure for AI and high-performance computing data centers. Applied Digital, Cipher Mining, and Hut 8 have all made moves in this direction.
Then there’s Uranium Digital, a project that plans to tokenize uranium trading on the Solana blockchain. The platform aims to be fully operational by early 2026 and has attracted backing from prominent family offices and investors. No major crypto-native tokens currently offer direct uranium exposure.
