---
title: "BKH Black Hills"
canonical: "https://supercyclehq.com/stock/black-hills"
type: "stock"
dataAsOf: "2026-11-02"
ticker: "BKH"
license: "Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset."
disclaimer: "Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI."
---

# Black Hills (BKH)

Black Hills Corporation is a regulated utility holding company operating under the Black Hills Energy brand.

## AI Exposure Score

**27/100, Peripheral.** Black Hills has an outsized, well documented data center niche in Cheyenne, Wyoming, where Microsoft campuses and new AI projects make data centers its fastest growing load segment. The small scale and regulated model keep the overall score in the peripheral band.

## Quote

| Field | Value |
| --- | --- |
| Price (EOD close) | $82.51 |
| Change 1d | +0.61% |
| Change 7d | +2.88% |
| Change 30d | +16.28% |
| Change 1y | +34.22% |
| 52-week high | $82.51 |
| 52-week low | $61.47 |
| Market cap | $6.3B |
| P/E | 20.78 |
| EPS | $3.97 |
| Next earnings | 2026-11-04 |

Quote as of 2026-11-02.

## Company

| Field | Value |
| --- | --- |
| Exchange | NYSE |
| Sector | Utilities |
| Headquarters | Rapid City, SD |
| CEO | Linden R. Evans |
| Employees | 2,795 |
| Website | https://ir.blackhillscorp.com |
| Buildout layers | [Utilities & Grid](https://supercyclehq.com/category/utilities-grid) |

## What the company does

Black Hills Corporation is a regulated utility holding company operating under the Black Hills Energy brand. It provides electricity and natural gas to customers across eight states in the Rocky Mountain and Midwest regions, earning returns approved by state regulators on its generation, grid and pipeline investments.

Its most distinctive AI angle is Cheyenne, Wyoming, a long running data center hub in its electric territory. Microsoft has operated campuses there for years, and new AI focused projects continue to land. Data center demand is the company's fastest growing load segment, and Black Hills uses a blended rate framework designed to serve large data center customers while protecting other ratepayers.

Founded in 1941 and headquartered in Rapid City, South Dakota, Black Hills employs about 2,800 people and trades on the NYSE.

## Role in the AI buildout

Black Hills Corporation sits in the Utilities & Grid layer of the AI buildout. Cheyenne, Wyoming has quietly become a data center hub, helped by cool weather, cheap land and available power, and Black Hills is the utility serving it. Long standing Microsoft campuses plus newer AI projects make data centers its fastest growing load segment, and its blended rate framework gives it a repeatable way to serve that demand. Small scale and regulated returns keep the exposure niche rather than transformative.

## FAQ

### What does Black Hills Corporation do?

Black Hills Corporation, operating as Black Hills Energy, is a regulated utility providing electricity and natural gas to customers across eight Rocky Mountain and Midwest states. It earns regulator approved returns on generation, grid and pipeline investment.

### How is Black Hills Corporation exposed to AI?

Its Cheyenne, Wyoming territory is a data center hub with long standing Microsoft campuses and new AI projects, making data centers its fastest growing load segment. Supercycle rates it Peripheral with an AI Exposure Score of 27 out of 100.

### Why is Cheyenne a data center hub?

Cheyenne offers a cool climate, inexpensive land and available power, which attracted Microsoft years ago and continues to draw new projects. Black Hills serves that load under a blended rate framework built for large data center customers.

### Who leads Black Hills Corporation?

Linden R. Evans serves as CEO. The company is headquartered in Rapid City, South Dakota, employs about 2,800 people, and was founded in 1941. Its shares trade on the New York Stock Exchange under the ticker BKH.

### Is BKH a pure play AI stock?

No. Black Hills is a diversified regulated utility, and most of its electric and gas business is unrelated to AI. Its Cheyenne data center niche is real but small, so Supercycle classifies it as Peripheral.

---

Source: https://supercyclehq.com/stock/black-hills. Data as of 2026-11-02. Prices are end-of-day closes, never live.

Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI.

Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset.