Talen focused on data center demand as it considers axing crypto business
NEW YORK (Reuters) -Talen Energy is focused on capturing surging demand from data center developers as the independent power company looks to pivot away from its crypto mining operation, company executives said on Tuesday. Talen is among a group of U.S. electric companies benefiting from the power needs of artificial intelligence and cloud computing data centers, with shares of Talen up nearly 100% since the start of the year. "It's not a strategic asset for us and we are looking at... other alternatives," Talen Energy Chief Executive Officer Mark McFarland said of the crypto mining business on a second-quarter earnings call.