Shares of Hallador Energy surged over 18% after the independent power producer reported a 40% increase in revenue to $146.8 million. Strong coal and electric sales, along with favorable market conditions, boosted profits to $23.9 million in the third quarter. The company plans to expand its generation capabilities to meet growing energy demands from AI industry.

CEO Brent Bilsland highlighted the increasing demand for accredited capacity, especially from data center developers. Hallador Energy filed for an expansion of its Merom plant by 525 megawatts to cater to the AI industry’s need for energy. The growth initiatives aim to provide exceptional value to shareholders now and in the future.

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Read more at Yahoo Finance: Why Hallador Energy Stock Soared Today