Talen Energy Shifts Focus to Data Centers, Considers Exiting Crypto Mining

Amid rising demand for AI and cloud computing power, Talen Energy plans to divest its crypto mining operations.

Talen Energy's shares have surged nearly 100% this year due to increased power needs from data centers.
The company raised its earnings and free cash flow forecasts following higher power use and prices.
Talen expects significant capacity revenues and a major payout from a data center sold to Amazon.
The Federal Energy Regulatory Commission is reviewing an interconnection agreement related to Talen's data center projects.
Talen's CEO expressed optimism about regulatory approval for the amended agreement.