How high will Bitcoin go in 2025?

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Former BP Oil CEO Joins AI Data Center Startup Prometheus Hyperscale

Erica Kollmann
November 25, 2024

Bernard Looney, former CEO of oil and gas giant BP plc, said on Sunday he will join AI data center start-up, Prometheus Hyperscale, as the chairman of the board of directors. 

The Details: Looney resigned from his position at BP last year after an investigation revealed he had not properly disclosed previous relationships with colleagues before becoming CEO. Looney is taking his more than 30 years of experience in the energy industry to the Wyoming-based start-up Prometheus Hyperscale. 

Looney told the New York Times in an interview he would be helping Prometheus attract AI hyperscalers such as Microsoft and Google in need of power and space for data centers. 

I'll be helping them with customers," he said. "I'll be helping them with investors. I'll be helping them with strategy."

Read More: Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally

Prometheus plans to build a $10 billion flagship data center in Evanston, Wyoming, which will be among the largest facilities of its kind in the world when completed — the company estimates in 2025 or 2026. The company says the project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot for data center facilities. 

The company secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, as well as a strategic partnership with Oklo Inc. (NYSE:OKLO) a small-scale nuclear reactor company.

Prometheus signed a non-binding letter of intent with Oklo in May, outlining its intent to enter into a 20-year Power Purchase Agreement. 

"As the widespread adoption of artificial intelligence increases, Oklo remains dedicated to providing clean, reliable and affordable energy solutions to meet the needs of our data center partners. Our partnership with Wyoming Hyperscale underscores our commitment to advancing sustainable energy practices and supporting high-efficiency operations within the data center industry," Jacob DeWitte, CEO of Oklo, said in the announcement in May. 

Combining the partnership with Oklo and its plans for incorporating a mix of wind, solar and gas power sources, Prometheus has an on-site generation goal of over 1 GW. 

Looney said in the interview that he aims to help Prometheus Hyperscale address what he called downsides of A.I., including potential in emissions. 

"We have to work on that," he said.

Read Next: 

  • Bitcoin Could Reach $1 Million By 2037, Economist Says: ‘Buy Of A Lifetime’ Opportunity

Photo: Courtesy of Prometheus Hyperscale

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