# Galaxy Digital Inc. Data Center Capex and Sites
Source: https://savrn.com/data-center-capital-atlas/company/galaxy-digital
Markdown alternate of the page above; the site index is https://savrn.com/llms.txt

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Named sites

1

Site-level commitments the atlas ties to Galaxy Digital Inc.

Disclosed site capital

n.a.

Sum of named sites with a stated dollar figure. Not a capex total; see the spending table

Disclosed capacity

260 MW

Sum of named sites with a stated megawatt figure

Financing transactions

64

Transactions naming Galaxy Digital Inc. or tied to one of its sites

Spending

## Reported and guided spending

Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent; guidance is what management said it expects. They are shown side by side and never combined.

| Period | Kind | Amount | As stated | Sources |
| --- | --- | --- | --- | --- |
| priced 23 July 2026 | reported | $3.5B | $3.507 billion of 9.875% senior secured notes due 2031 issued by Galaxy Helios Data Centers II LLC |  |

Named sites

## Where Galaxy Digital Inc. builds

Texas

1 site

Open the Texas investment tracker →

| Site | State | Place | Capital | MW | Status | Sources |
| --- | --- | --- | --- | --- | --- | --- |
| Helios II data center (Dickens County)Note offering priced 23 July 2026 | [Texas](https://savrn.com/data-center-capital-atlas/texas) | Dickens County | n.a. | 260 | construction |  |

Financing

## Financing transactions

Transactions that name Galaxy Digital Inc. as a party or attach to one of its named sites. Amounts are as stated; overlapping commitments are never summed.

| Parties | Instrument | Amount | Date | Site | Sources |
| --- | --- | --- | --- | --- | --- |
| Amazon.com, Inc.Amazon sold $37.0 billion of senior unsecured notes in eleven tranches maturing from 2028 to 2076 under its shelf registration, for general corporate purposes. It was one of three Amazon note offerings in the first half of 2026 not previously in the atlas, alongside a euro offering the same week and a Canadian dollar offering in June. | senior notes | ~$37.0B | Backfill (not previously recorded). Priced 10 March 2026; final prospectus supplement filed 12 March 2026; settlement on or about 13 March 2026 | n.a. |  |
| Meta Platforms, Inc.Meta sold $25.0 billion of senior unsecured notes in six tranches maturing from 2031 to 2066, for general corporate purposes. It is Meta's only SEC-registered note offering found in 2026 to date. | senior notes | $25.0B | Backfill (not previously recorded). Preliminary supplement filed 30 April 2026; final prospectus supplement filed 1 May 2026; settlement on or about 4 May 2026 | n.a. |  |
| Alphabet Inc.Alphabet sold $20.0 billion of senior unsecured notes in seven tranches maturing from 2029 to 2066, paired the same week with a sterling offering. | senior notes | ~$20.0B | Backfill (not previously recorded). Final prospectus supplement filed 11 February 2026; settlement on or about 13 February 2026 | n.a. |  |
| Fermi Inc. + TensorWaveFermi's first tenant lease. The Form 10-Q for the quarter ended 30 June 2026 records no signed leases at the balance sheet date and discloses the definitive lease with its first tenant as a subsequent event dated 9 August 2026; the Q2 2026 earnings release identifies the tenant as TensorWave and states 222 MW of total facility power over 15 years for approximately $6.5 billion of contracted revenue. On 22 September 2026 Fermi announced that its subsidiary Fermi Campus 1 LLC and TensorWave TEX1, LLC signed a first amendment extending the lease closing date from 30 September 2026 to 31 October 2026, with all other terms unchanged. Fermi said the remaining work is to finalize the lease guaranty with its counterparty and that those discussions are ongoing. | lease | ≥$6.5B | Lease entered 9 August 2026; announced 11 August 2026; closing date extended from 30 September 2026 to 31 October 2026 by a first amendment announced 22 September 2026 | HyperGrid campus, Amarillo (TX) |  |
| Cipher Digital (Cipher Barber Lake LLC) + Fluidstack USA II Inc. + Unnamed leading AI labCipher amended its Barber Lake lease with Fluidstack and entered a binding commitment with an unnamed leading AI lab to lease the facility for 10 more years after the Fluidstack term, on economic terms substantially consistent with the existing lease, extending contracted term to 20 years. The amendment adds tenant change orders, a phased data hall delivery from the fourth quarter of 2026 to the first quarter of 2027 (the September 2025 filing had targeted delivery by September 2026), and a cost framework under which Cipher bears the first $359.3 million of overruns above the initial budget and the tenant reimburses 50% of costs above that amount as additional rent. | lease | ≥$5.2B | Amendment and binding commitment signed 24 September 2026; announced 25 September 2026 (Form 8-K) | Barber Lake data center (TX) |  |
| CoreWeave, Inc.CoreWeave priced an upsized private offering of $3.7 billion of 2.875% convertible senior notes due 1 April 2033 on 18 September 2026, up from the $3.0 billion proposed on 17 September 2026. The initial conversion price is about $97.85 per share, a premium of about 22.50% to the 17 September 2026 closing price. Net proceeds are about $3.64 billion (about $4.14 billion if the option is exercised in full); about $498.8 million funds capped call transactions with a cap price of $199.70 per share, and the remainder is for general corporate purposes. The notes are guaranteed by the subsidiaries that guarantee CoreWeave's existing senior and convertible notes. CoreWeave completed the offering on 22 September 2026 at $4.2 billion aggregate principal amount, including $500 million from the initial purchasers' option exercised in full, under an indenture dated 22 September 2026 with U.S. Bank Trust Company, National Association as trustee. Net proceeds were $4,137.0 million after initial purchasers' discounts and before estimated offering expenses. The capped call transactions, entered on 17 September 2026 with additional capped calls on 18 September 2026 after the option exercise, cost approximately $566.2 million, with a cap price of $199.70 per share; the remainder of the proceeds is for general corporate purposes. Interest is payable on 1 April and 1 October from 1 April 2027. | convertible | ~$4.2B | Priced 18 September 2026; closed 22 September 2026 with the initial purchasers' option exercised in full | n.a. |  |
| Galaxy Digital + Galaxy Helios Data Centers II LLCGalaxy Digital's indirect wholly owned subsidiary Galaxy Helios Data Centers II LLC priced a $3.507 billion private offering of 9.875% senior secured notes due 1 August 2031. Proceeds finance a portion of the development and construction of two buildings containing eight data halls with a combined 400 MW of utility capacity and 260 MW of critical IT capacity on an approximately 260-acre property in Dickens County, Texas, and fund debt service reserves. The notes amortize at 4.00% per annum of original principal and are guaranteed by Galaxy Helios II LLC. Galaxy Helios Data Centers II LLC completed the $3.5 billion senior secured notes due 2031 offering on 28 July 2026 to fund construction of Helios I, Phase II | project bond | ~$3.5B | Priced 23 July 2026; offering completed 28 July 2026 | Helios II data center (Dickens County) (TX) |  |
| Blockfusion USA, Inc. + North East Data, LLC + CoreWeaveBlockfusion's subsidiary North East Data, LLC entered a definitive 15-year anchor lease with two five-year renewal options, plus a companion expansion agreement, with CoreWeave at its Niagara Falls, New York campus. The agreements convert a non-binding letter of intent announced 30 June 2026. Blockfusion is pursuing a business combination with Blue Acquisition Corp. that would list the combined company on Nasdaq. Blue Acquisition Corp.'s Form 8-K filed 22 September 2026 discloses a Series A common stock purchase warrant dated 4 September 2026 issued by Blockfusion to CoreWeave, Inc. for 2,786,624 Blockfusion Series A shares at an initial exercise price of $7.6898 per share. Under the Sixth Amendment to the business combination agreement, signed 21 September 2026, that warrant is cancelled immediately before the merger and replaced by a warrant for 2,870,813 shares of the listed company's Class A common stock at $7.4643 per share; the amendment also raises the earnout to up to 15,000,000 shares. The filing does not state the lease value or MW. An updated Blue Acquisition Corp. and Blockfusion investor presentation, furnished on Form 8-K on 25 September 2026, states the site has 50 MW energized with an expansion path to 300 MW or more, the CoreWeave expansion framework reaches up to 300 MW with CoreWeave holding first right to each increment, and CoreWeave committed $50 million as a non-recurring charge plus $30 million through the warrant purchase. Blockfusion is valued at $450 million pre-money in the business combination. | lease | ≥$2.8B | Announced 16 September 2026 | Niagara Falls AI campus (NY) |  |
| CleanSpark, Inc. + CSDC Finance I, LLC (issuer) + CSRE Properties Sandersville, LLC (guarantor)CleanSpark subsidiary CSDC Finance I, LLC priced a Rule 144A / Regulation S private offering of $2.276 billion of 7.875% senior secured notes due 2031 at 98.500% of principal on 18 September 2026, up from the $2.227 billion proposed on 17 September 2026. Net proceeds are to finance the remaining build-out cost of the Sandersville Facility, reimburse CleanSpark for prior equity contributions and fund debt service reserves. The notes are guaranteed by CSRE Properties Sandersville, LLC and secured by first-priority liens on substantially all assets of the issuer and guarantor and on the issuer's equity; CleanSpark provides a customary completion guarantee. Closing is expected on 25 September 2026. The facility is leased for 20 years to an unnamed high investment-grade global technology company (lease announced 14 July 2026). The 17 September 2026 investor presentation filed with the proposed-offering 8-K identifies the tenant as Anviran, LLC, a wholly owned subsidiary of Meta, with Meta guaranteeing rent and operating expenses, and shows a development cost of about $11.9 million per IT MW. As of 24 September 2026 no closing 8-K had been filed; closing remained expected on 25 September 2026. CleanSpark's Form 8-K filed 25 September 2026 reports that CSDC Finance I, LLC completed the offering on 25 September 2026: $2,276.0 million of 7.875% Senior Secured Notes due 2031 issued at 98.500% of principal under an indenture dated 25 September 2026 with U.S. Bank Trust Company, National Association as trustee and collateral agent, guaranteed by CSRE Properties Sandersville, LLC. Net proceeds finance the remaining cost of the Sandersville, Georgia data center facility, reimburse CleanSpark for prior equity contributions and fund debt service reserves. CleanSpark provides a customary completion guarantee for the facility. | project bond | $2.3B | Priced 18 September 2026 (purchase agreement); closed 25 September 2026 (Form 8-K filed 25 September 2026) | CleanSpark Sandersville data center (GA) |  |
| Axe Compute Inc. + Undisclosed customerAxe Compute signed a five-year agreement to deploy a dedicated cluster of more than 9,200 Nvidia Blackwell B300 GPUs in the United States that it will design, deploy, own and operate. The company said it expects more than $534 million of customer prepayments within 30 days across this and earlier contracts and intends to pair them with project-level financing. Location in the US was not disclosed Axe Compute had received $317 million of customer prepayments by 31 August 2026, which its CEO told Investing.com covers about 30% to 35% of the roughly $3 billion build cost, with the rest to come from project financing | GPU cloud capacity contract | ≥$1.5B | Announced 27 July 2026 | n.a. |  |
| Galaxy Digital + CoreWeave (tenant)Galaxy said in its third quarter 2025 results that it secured a $1.4 billion project financing facility that fully funds the $1.7 billion Phase I build at its Helios data center campus in Texas. In the same period it executed the Phase II lease with CoreWeave, which also exercised its final option for an additional 133 MW of critical IT load, bringing its commitment to the full 800 MW of approved power capacity at Helios. Lenders are not named in the release. | debt facility | $1.4B | Disclosed in Galaxy's third quarter 2025 results release, 21 October 2025 | n.a. |  |
| AIB Data Centers Inc. (AIB CLT1 LLC) + NebiusAIB Data Centers signed a binding agreement with Nebius for 50 MW of critical IT capacity at its facility in the southeastern United States, delivered in two data halls and supported by AIB's 15-year Electric Service Agreement for 65 MW of utility load at the site. AIB's Form 10-Q identifies the 65,000 kVA agreement with its CLT-01 Campus in Spartanburg County, South Carolina, a former 40 MW bitcoin hosting facility being repurposed to about 65 MW. The release does not name the town. AIB's investor presentation says Nebius's guaranty backs the contract, rent commences hall by hall (two 25 MW halls targeted at about months 10 and 14), and the 12-year term runs from the first hall. | lease | ≥$1.3B | Announced 30 September 2026 (AIB release via GlobeNewswire); contract value from AIB investor presentation furnished on Form 8-K 30 September 2026; ESA service scheduled to begin 1 October 2026 | AIB Data Centers CLT-01 Campus (SC) |  |
| Axe Compute Inc. + Undisclosed customersAxe Compute announced more than $1.3 billion of new customer contracts through its Build program, under which it designs, deploys, owns and operates dedicated GPU clusters. The agreements span the United States and Europe; customers, locations and terms were not disclosed. Must not be summed with later Axe Compute contract totals | GPU cloud capacity contracts | ≥$1.3B | Announced 22 July 2026 | n.a. |  |
| Cipher Mining Inc. (now Cipher Digital)Cipher Mining issued $1.3 billion of 0.00% Convertible Senior Notes due 2031 on 30 September 2025 under an indenture with U.S. Bank Trust Company, including the full exercise of the initial purchasers' option for an additional $200 million. Corporate-level financing; the 8-K text reviewed does not tie proceeds to one site. | convertible | $1.3B | Issued 30 September 2025 (Form 8-K filed 1 October 2025) | n.a. |  |
| Flash Compute LLC + TeraWulf Inc. + Fluidstack (JV partner)TeraWulf announced on 29 December 2025 the completion of a Rule 144A and Regulation S offering by Flash Compute LLC of $1.3 billion of 7.250% Senior Secured Notes due 2030, issued at par. Flash Compute sits under a joint venture holding company owned 50.1% by a TeraWulf subsidiary. Proceeds finance a portion of the construction cost of the Abernathy HPC Campus in Abernathy, Texas, and fund debt reserves, with the JV holding company providing a completion guarantee of up to $100 million. TeraWulf later agreed to sell its JV stake (see terawulf-abernathy-jv-stake-sale-fluidstack-2026). | senior notes | $1.3B | Purchase agreement 18 December 2025; completion announced 29 December 2025 | Abernathy site (with TeraWulf) (TX) |  |
| Host Digital Inc. (formerly Healthy Choice Wellness Corp.) + Host Digital Infrastructure LLC + unnamed privately held cloud infrastructure company (tenant)Host Digital Infrastructure LLC signed a 15-year take-or-pay lease on 7 August 2026 with one of the world's largest privately held cloud infrastructure companies for 43 MW of critical IT load at a planned 45+ MW campus in Northeast Oklahoma, expected to be backstopped by an investment-grade technology company, with renewals to a 30-year total term and delivery expected in the first quarter of 2027. On 17 September 2026 Healthy Choice Wellness Corp. completed its merger with Host Digital Infrastructure LLC, renamed itself Host Digital Inc. and began trading as HOST on NYSE American on 18 September 2026. A preliminary prospectus supplement filed 17 September 2026 proposed a $17.5 million Class A share offering, not yet priced, and described a possible second Northeast Oklahoma site under a 12-year lease for about 16 MW (about $391 million base-term rent) that is not under contract. Project financing had not closed. Host Digital Inc. priced its underwritten offering of 2,187,500 Class A shares at $8.00 per share on 17 September 2026 and completed it on 21 September 2026 for gross proceeds of about $17.5 million, with Cantor Fitzgerald as lead book running manager; the company plans to use the net proceeds for data center investments and general corporate purposes without naming a project. | lease | ≥$1.2B | Lease signed 7 August 2026; disclosed at merger close 17 September 2026 | Host Digital Project Facility (Northeast Oklahoma) (OK) |  |
| Solaris Energy Infrastructure, Inc. + Solaris Energy Infrastructure, LLCOn 22 September 2026 Solaris Energy Infrastructure, Inc. announced that its subsidiary Solaris Energy Infrastructure, LLC intends to offer $1.0 billion of senior notes due 2032 in a Rule 144A and Regulation S private offering, guaranteed on a senior unsecured basis, with net proceeds for general corporate purposes, growth capital expenditures and offering fees. The offering had not priced as of the announcement. Investor materials filed the same day describe three contracts to supply power generation to AI data center customers: about 900 MW through the 50.1 percent owned Stateline Power joint venture, an approximately 660 MW turnkey plant for Hatchbo, LLC, an affiliate of an investment grade technology company, and about 640 MW for a third customer, with firm equipment orders scheduled to exceed 3,300 MW by the end of 2029. On 22 September 2026 Solaris Energy Infrastructure, Inc., its subsidiary Solaris Energy Infrastructure, LLC (the issuer) and the subsidiary guarantors signed a purchase agreement with MUFG Securities Americas Inc., as representative of the initial purchasers, for $1.25 billion aggregate principal amount of 7.000% Senior Notes due 1 April 2032 in a Rule 144A and Regulation S private placement, upsized from the original $1.0 billion. The notes are issued at par for net proceeds of approximately $1,227.2 million and are guaranteed on a senior unsecured basis by Solaris and the issuer's subsidiaries that guarantee certain issuer debt, including its revolving credit facility. Closing is expected on 1 October 2026, subject to customary conditions. Net proceeds are for general corporate purposes, growth capital expenditures and offering fees and expenses. The notes were issued on 1 October 2026 under an indenture of that date with U.S. Bank Trust Company as trustee, for net proceeds of approximately $1,227.2 million. The same day Solaris amended its 12 May 2026 senior secured revolving credit facility (MUFG Bank as agent), raising commitments by $200 million to $850 million through full exercise of the incremental feature and lifting the letter of credit sublimit from $150 million to $325 million. | senior notes | ~$1.2B | Proposed offering announced 22 September 2026; priced 22 September 2026 (upsized from $1.0 billion); closed 1 October 2026 | n.a. |  |
| CleanSpark, Inc. + Cantor FitzgeraldCleanSpark completed a Rule 144A offering of $1,150,000,000 of 0.00% Convertible Senior Notes due 2032 on 13 November 2025, issued at par for net proceeds of about $1.13 billion. It used about $460.0 million to repurchase shares from note investors and intends to use the remainder to expand its power and land portfolio, develop data center infrastructure, repay bitcoin-backed credit lines and for general corporate purposes. | convertible | ~$1.1B | Purchase agreement 10 November 2025; completed 13 November 2025 | n.a. |  |
| Csquare, Inc. + Brookfield + Morgan Stanley + TD Securities + Wells Fargo Securities + BofA Securities + BMO Capital Markets + ScotiabankBrookfield-backed Csquare priced its NYSE IPO under ticker CSQR. The company runs carrier-neutral colocation and interconnection data centers across U.S., Canadian and U.K. markets. Net proceeds go to repaying debt and offering costs The sale of 50,000,000 shares closed on 17 July 2026 with net proceeds of $1,010.0 million after underwriting discounts, per the company 8-K | equity raise | ~$1.1B | Priced 15 July 2026; closed 17 July 2026 | n.a. |  |
| TeraWulf Inc. + Morgan Stanley + Cantor FitzgeraldTeraWulf completed a Rule 144A offering of $1.025 billion of 0.00% Convertible Senior Notes due 2032 on 31 October 2025, including $125.0 million issued under the initial purchasers' option, at 100% of principal for net proceeds of about $999.7 million. The company said it intends to use the proceeds to fund a portion of the construction cost of a data center campus in Abernathy, Texas, among other purposes. | convertible | ~$1.0B | Purchase agreement 29 October 2025; completed 31 October 2025 | Abernathy site (with TeraWulf) (TX) |  |
| Bitdeer Technologies Group + Barclays Capital Inc. + Cantor Fitzgerald & Co. + B. Riley Securities, Inc. + BTIG, LLCBitdeer registered an at-the-market program of up to $1.0 billion of Class A ordinary shares through a syndicate of sales agents. The company said net proceeds, if any, would be used for datacenter expansion, HPC and AI cloud business expansion, and ASIC mining rig development and manufacture, as well as working capital. Bitdeer's North American AI/HPC development includes its Rockdale, Texas site | at-the-market equity program | $1.0B | Prospectus supplement filed 10 August 2026 | n.a. |  |
| Core Scientific, Inc. + Morgan Stanley Senior Funding, Inc. (agent) + JPMorgan Chase Bank, N.A. (amendment no. 1 term lender)On 4 March 2026 Core Scientific entered a credit agreement with Morgan Stanley Senior Funding as agent for a $500.0 million senior secured term loan facility with a $500.0 million accordion, drawing the full $500.0 million on 5 March. Proceeds were for general corporate purposes related to data center development, including equipment purchases and deposits, energy deposits, real property acquisition and pre-development costs. On 18 March 2026 Amendment No. 1 added a $500.0 million commitment from JPMorgan Chase Bank, bringing the facility to $1.0 billion, fully drawn. On 6 May 2026 Core Scientific repaid all borrowings under this bridge facility with proceeds of the $3.3 billion 7.750% senior secured notes due 2031. This is a different facility from the $600 million JPMorgan-agented revolving and letter of credit facilities of 25 August 2026 (core-scientific-600m-credit-facilities-2026). | debt facility | $1.0B | Backfill (not previously recorded). Credit agreement entered 4 March 2026 ($500 million drawn 5 March); upsized to $1.0 billion by Amendment No. 1 on 18 March 2026 (announced 23 March); repaid in full 6 May 2026 | n.a. |  |
| TeraWulf Inc.TeraWulf issued $850 million of 1.00% Convertible Senior Notes due 2031 in a private offering on 20 August 2025 and a further $150 million on 22 August 2025 after the initial purchasers fully exercised their option, for $1 billion in total. It used $100.6 million for capped call transactions, with the remaining net proceeds allocated to data center expansion and general corporate purposes. | convertible | $1.0B | $850 million issued 20 August 2025; $150 million option notes issued 22 August 2025 | n.a. |  |
| Zone Frontier Inc. (formerly CleanCore Solutions) + Cerebras SystemsZone Frontier, which dropped its cleaning products and Dogecoin treasury businesses in June 2026 to build AI data centers, holds a binding ten-year lease with Cerebras Systems for its Minnesota campus, which is under construction. The company expects at least 55 MW of utility power and 40 MW of critical IT load online by the end of the second calendar quarter of 2027. The 10-K does not name the Minnesota town, so no site row is created. | lease | ≥$800M | Backfill (not previously recorded). Announced 29 July 2026; Minnesota campus acquisition completed 23 July 2026 (company Form 10-K for fiscal year ended 30 June 2026) | n.a. |  |
| Fermi Inc.Fermi Inc. listed on Nasdaq under FRMI. The FY2025 shareholder letter records net IPO proceeds of $745.6 million as part of approximately $1.8 billion of capital assembled in the period. | equity raise | $746M | Priced 1 October 2025 | HyperGrid campus, Amarillo (TX) |  |
| Core Scientific + JPMorgan Chase Bank, N.A. + Morgan Stanley Senior Funding, Inc. + Goldman Sachs + TD Securities (USA) LLCCore Scientific entered into $600 million of committed senior secured credit facilities with JPMorgan as administrative and collateral agent and Morgan Stanley as lead left arranger. Letters of credit may provide credit support for project obligations under utility agreements. The company said the facilities are expected to release approximately $300 million of restricted cash. Maturity is the third anniversary of closing, extendable to the fourth at the company's election | revolving credit facility and letter of credit facility | $600M | Credit agreement dated 25 August 2026; announced 27 August 2026 | n.a. |  |
| Riot Platforms + Riot DC Logistics, LLC + Morgan Stanley Senior Funding, Inc.Riot subsidiary Riot DC Logistics, LLC entered a $573.0 million senior secured delayed-draw term loan with Morgan Stanley Senior Funding as administrative agent to fund long-lead equipment for the 191 MW Rockdale data center. The loan is secured by substantially all assets of the credit parties with no recourse to Riot Platforms. Riot described it as interim financing while an investment-grade credit backstop is finalized | debt facility | $573M | Credit agreement dated 10 August 2026 | Rockdale campus AI data center (TX) |  |
| Fermi Inc. + MUFGA $500 million non-recourse turbine equipment loan arranged with MUFG. Fermi's Form 10-Q reports total debt of $536.9 million at 30 June 2026 across a Turbine Warehouse Equipment Financing of $444.9 million, a High Voltage Equipment Financing of $77.3 million and a Turbine Warehouse II Equipment Financing of $14.7 million. | debt facility | $500M | Disclosed in the FY2025 shareholder letter | HyperGrid campus, Amarillo (TX) |  |
| Axe Compute Inc. + Duos Technologies Group, Inc.Axe Compute and Duos Technologies entered agreements for up to 55 MW of AI data center capacity across multiple undisclosed US locations, in addition to a 10 MW deployment Duos is delivering in Georgia. Initial readiness is targeted from late 2026 into early 2027. The equity investments remain subject to definitive documentation | data center capacity agreements | ≥$500M | Announced 17 August 2026 | n.a. |  |
| Galaxy Digital + Unnamed large asset managerGalaxy announced on 10 October 2025 a $460 million equity investment by one of the world's largest asset managers, which the release does not name. Net proceeds to Galaxy of $325 million are to drive the build-out of the Helios data center campus and support general corporate purposes. | equity raise | $460M | Announced 10 October 2025 (per Galaxy's third quarter 2025 results release) | n.a. |  |
| Fermi Inc.Fermi issued more than $431 million of 5.00% Convertible Senior Notes due 2031, reporting net proceeds of $416.8 million before the cost of capped call transactions. | convertible | ≥$431M | Disclosed in the Q2 2026 earnings release, 13 August 2026 | HyperGrid campus, Amarillo (TX) |  |
| Axe Compute Inc. (AGPU) + Unnamed customersAxe Compute, a Nasdaq-listed neocloud, said it signed more than $266 million of new dedicated AI infrastructure contracts for NVIDIA GB300-class clusters with CPU orchestration nodes, storage and dedicated networking, and has received more than $184 million of customer prepayments since its second-quarter report. Customers and deployment locations were not disclosed. | compute lease | ≥$266M | Reported 29 September 2026 (Pulse 2.0 summary of the company release); single outlet; no Form 8-K filed as of 30 September 2026 | n.a. |  |
| Cipher Mining Inc. (now Cipher Digital) + Morgan StanleyCipher Mining entered an underwriting agreement with Morgan Stanley on 20 May 2025 for 1.75% Convertible Senior Notes due 2030, with a $150 million base and a $22.5 million option that was exercised in full on 21 May 2025, for $172.5 million in total. Corporate-level financing by a bitcoin miner then moving into HPC hosting; not tied to one site in the filing text reviewed. | convertible | $172M | Underwriting agreement 20 May 2025; option exercised in full 21 May 2025 (Form 8-K filed 22 May 2025) | n.a. |  |
| Fermi Inc. + CSG + Beal BankA $165 million equipment financing provided through CSG and Beal Bank. | debt facility | $165M | Disclosed in the FY2025 shareholder letter | HyperGrid campus, Amarillo (TX) |  |
| Fermi Inc. + Keystone + CapeA $120 million transformer financing facility, expandable to $220 million, for high-voltage equipment at the HyperGrid campus. | debt facility | $120M | Disclosed in the FY2025 shareholder letter | HyperGrid campus, Amarillo (TX) |  |
| New Era Energy & Digital (TCDC PowerCo LLC, Texas Critical Data Centers LLC) + Macquarie Bank Limited + Macquarie Equipment Capital Inc.On 7 October 2026 New Era subsidiaries TCDC PowerCo LLC and Texas Critical Data Centers LLC entered a Letter of Credit Reimbursement Agreement with Macquarie Bank Limited, which caused a $116.0 million standby letter of credit to be issued to Luminant ET Services to secure PowerCo's obligations under the 20-year Luminant PPA for the Texas Critical Data Centers project. Drawings bear 12% interest; fees are a 1.00% fronting fee and 2.00% a year. The collateral was funded partly by a $60.0 million draw under TCDC's existing Macquarie term loan, for which New Era issued the lender warrants for 413,055 shares at about $7.26; New Era expects to refinance the term loan borrowings soon. The filing also says New Era has begun pursuing leases with hyperscale tenants for the project. | debt facility | ~$116M | Entered 7 October 2026 (Form 8-K filed 8 October 2026) | Texas Critical Data Centers (TCDC) (TX) |  |
| Fermi Inc.Preferred Units issued before the initial public offering, raising $107.6 million. | preferred | $108M | Pre-IPO, disclosed in the FY2025 shareholder letter | HyperGrid campus, Amarillo (TX) |  |
| Fermi Inc. + MacquarieA $100.0 million term loan from Macquarie, recorded in Fermi's FY2025 shareholder letter among the financings assembled before the initial public offering. | debt facility | $100M | August 2025 | HyperGrid campus, Amarillo (TX) |  |
| Zone Frontier Inc. (formerly CleanCore Solutions)Zone Frontier says it raised $100 million in August 2026 to fund its equity commitment to the Minnesota data center project leased to Cerebras. The company also closed on a West Texas campus on 9 July 2026 with development partner HST Technologies, planned for an initial 200 MW of critical IT load by early 2029 and potential expansion above 500 MW by 2030. | equity raise | $100M | Backfill (not previously recorded). Priced 11 August 2026 (company Form 10-K) | n.a. |  |
| Fermi Inc.Series A Convertible Notes of $75.5 million and Seed Convertible Notes of $26.1 million issued before the initial public offering. | convertible | $76M | Pre-IPO, disclosed in the FY2025 shareholder letter | HyperGrid campus, Amarillo (TX) |  |
| TECfusions, Inc. + Apex Treasury CorpTECfusions, a developer of AI-ready data centers using adaptive reuse of legacy industrial sites, agreed to combine with SPAC Apex Treasury Corp and list on Nasdaq under the proposed ticker TECF. TECfusions has operating and development activity in Clarksville, Virginia; Tucson, Arizona; and New Kensington, Pennsylvania, and targets hyperscaler, neocloud and enterprise AI tenants without owning GPUs | SPAC business combination with PIPE | $35M | Business combination agreement announced 22 July 2026; closing pending | n.a. |  |
| Bitari Inc.Bitari, a Texas Bitcoin hosting company with sites in Wheeler and Dumas, Texas, and a contracted site in Marion, Indiana, filed to list on Nasdaq under BIAI. The prospectus says it is pursuing conversion and expansion of its 20 MW Wheeler mining facility into an AI data center, and has a non-binding agreement with strategic partner Aleria Technology on a potential transaction for up to 1,300 MW of AI data center capacity at the Wheeler site. | ipo | ~$34M | Backfill (not previously recorded). Amendment No. 2 to Form S-1 (Registration No. 333-298506) on file; offering not yet priced | n.a. |  |
| Corvex, Inc. + Goldman Sachs & Co. LLC + Morgan Stanley + Oppenheimer & Co.Corvex, Inc. (Nasdaq: MOVE) announced a private placement of common stock and Series D Preferred Stock generating approximately $33 million of gross proceeds, with Goldman Sachs & Co. LLC, Morgan Stanley and Oppenheimer & Co. as joint lead placement agents and 4.258 million as-converted common restricted shares priced at $7.75. Proceeds fund an expansion of critical IT power capacity from approximately 1.5 MW to approximately 8 MW by year-end 2026, across a doubling at an existing Mid-Atlantic data center and a new deployment at an existing enterprise-scale Midwest data center, supporting approximately 3,000 GPUs. Corvex holds a right of first refusal on a further 12.5 MW at the Midwest site, anticipated ready for service in the third quarter of 2027, which if exercised would take total critical IT capacity above 20 MW. Neither data center is named or located beyond region. The company stated the transaction would take pro forma cash and cash equivalents to approximately $55 million against $22 million reported at 30 June 2026. | equity raise | ~$33M | Announced 31 August 2026, expected to close on or about 2 September 2026 | n.a. |  |
| Hyperscale Data, Inc. + Morpho Protocol lendersHyperscale Data said it had implemented a bitcoin-backed decentralized finance borrowing program through the Morpho Protocol, with about $30 million outstanding as of 2 August 2026 at a variable rate of about 4.9 percent. Proceeds support development of its Michigan AI data center campus under a master services agreement with a neocloud provider, plus working capital and general corporate purposes. | debt facility | ~$30M | Announced 3 August 2026; about $30 million outstanding as of 2 August 2026 | Hyperscale Data Michigan AI data center (Alliance Cloud Services) (MI) |  |
| AIB Data Centers Inc. + Undisclosed sellersAIB Data Centers acquired about 29.385 acres in Texas for data center development through two linked agreements. The first parcel of about 5 acres cost $8.25 million in cash and has 15 MW of existing primary electric service, and up to 40 MW is to be delivered to the second parcel when facilities are placed in service. The county was not disclosed in the filing | real property and membership interest acquisition | ~$17M | Agreements signed 4 September 2026; completed 11 September 2026 | n.a. |  |
| Z Squared Inc. + Paradox Infrastructure LLC + Paradox Energy LLCNasdaq-listed Z Squared completed its acquisition of Paradox Data LLC, whose principal asset is the Union County Campus in El Dorado, Arkansas: about three acres with an existing building, a contract to buy about 10 adjacent acres, and rights under a Power Access Agreement to an interruptible Entergy Arkansas service agreement of up to about 8 MW (assignment requires Entergy's consent, not yet obtained). Z Squared plans up to about 150 MW of AI-ready colocation capacity over time from utility power and on-site generation, subject to new power arrangements, customers, financing and permits. The seller's bitcoin mining continues temporarily under a lease. Z Squared's CTO holds an indirect minority interest in the seller, so the deal was approved as a related person transaction. | acquisition | $5M | Backfill (not previously recorded). Agreement disclosed in a Form 8-K filed 4 August 2026; closed 8 September 2026 (Form 8-K filed 14 September 2026) | n.a. |  |
| FingerMotion, Inc. + Newbit Technology Inc. shareholdersFingerMotion agreed to buy 100 percent of Newbit Technology Inc., holder of the surface lease, permits, gas pipeline and metering infrastructure and AUC Rule 007 registration for a 9.9 MW behind-the-meter site in the County of Newell, Alberta, which becomes Brooks Campus #1 of its 99 MW Alberta power and compute program. Generating equipment is excluded. Closing requires a new gas supply agreement with Pivotal Energy Partners and Eastern Irrigation District consent. | acquisition | ~$2M | Announced 29 September 2026 (company release); agreement dated 23 September 2026; closing targeted by 29 October 2026 | FingerMotion Brooks Campus #1 (behind-the-meter AI compute site) (Alberta) |  |
| Carrier Connect Data Solutions + PureColo Inc. + Rochester Colo, LLCCarrier Connect Data Solutions, through its subsidiary PureColo Inc., signed a definitive agreement to acquire the data center business assets of Rochester Colo, LLC, a carrier-neutral colocation facility in Rochester, New York. The company described it as its first US data center and its sixth overall, generating about C$885,000 of annual recurring revenue with more than 60% of capacity available. Closing was subject to TSX Venture Exchange acceptance. | acquisition | ≥$250K | Definitive agreement announced 9 June 2026 (company release); closing was expected 15 August 2026 and has not been confirmed | n.a. |  |
| SB Energy, Inc. + SoftBank + OpenAI + NVIDIASB Energy, Inc. filed a Form S-1 registration statement for an initial public offering of Class A common stock on 1 September 2026. The filing discloses a Data Center Contracted Portfolio of 8.8 GW-IT, comprising 0.8 GW-IT under construction (the Cosmos Technology Campus and Milam County Buildings 1 and 2) and 8.0 GW-IT contracted but not under construction (the PORTS-Pike Technology Campus), against 5.5 GWac of power that is operating, under construction or contracted, of which approximately 2.2 GWac of solar and battery storage was in service at 30 June 2026. No data center capacity is in operation. The company reports approximately $439 billion of backlog ($430 billion data center segment, $10 billion power segment) and approximately $178 billion of backlog-associated capex ($174 billion data center, $4 billion power), and states that approximately $357 billion of the backlog is expected to be recognized beyond 96 months. SoftBank and OpenAI are strategic investors and customers; NVIDIA is a strategic investor and residual value guarantor at PORTS-Pike and is expected to become a holder of Class N common stock in connection with the offering, subject to closing of a concurrent private placement and settlement of a prepaid forward contract. Underwriters named on the cover include J.P. Morgan, Goldman Sachs & Co. LLC, Morgan Stanley, Citigroup and Mizuho. The registration statement records total revenue of $138.7 million and a net loss attributable to SB Energy, Inc. of $3,208.9 million for the six months ended 30 June 2026. SB Energy filed Amendment No. 2 to its Form S-1 on 21 September 2026, still leaving the offering size and price range blank and keeping the proposed Nasdaq and Nasdaq Texas symbol SBE. The amendment states that NVIDIA will invest $3.0 billion in total in connection with the offering, through a $1.5 billion private placement of Class N shares at the offering price and $1.5 billion already prepaid under a forward contract at 90 percent of that price, adds a Citibank agented revolving credit agreement whose $473.0 million initial borrowing is to repay the Hickory Facilities, and says the company targets up to 90 percent debt financing of $8 billion to $9 billion of capital expenditure per building at the PORTS-Pike Technology Campus. Reuters reported on 21 September 2026, citing The New York Times, that SB Energy had delayed its IPO; the company has not confirmed a postponement in any SEC filing. | equity raise | n.a. | Form S-1 filed 1 September 2026; Amendment No. 2 filed 21 September 2026; delay reported 21 September 2026 (Reuters citing The New York Times), not confirmed by the company | n.a. |  |
| Switch, Inc.Reported: Switch has confidentially filed for a US IPO that could come as soon as November 2026, according to Bloomberg News citing people familiar with the matter, working with Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley. Bloomberg reported a valuation approaching $50 billion including debt, while Reuters had earlier reported, citing sources, a raise of up to $10 billion at close to an $80 billion valuation including debt. Switch has not confirmed the filing. | equity raise | n.a. | Reported by Bloomberg News, 7 August 2026 | n.a. |  |
| ERock, Inc. + AnthropicERock executed a 470 MW equipment purchase order with Anthropic for utility-grade onsite power, extending its production commitments into 2028. ERock attributed its backlog growth primarily to demand from AI data center customers. No site was named | equipment order | n.a. | Disclosed 11 August 2026 in ERock's second quarter 2026 results (Form 8-K) | n.a. |  |
| Vibro Information Services Ltd. (Meta) + 1598313 Alberta Ltd. + Pembina Pipeline Corporation + Suncor Energy Inc.The Realist reported that three parcels totalling 1,753.80 acres at 56111 Range Road 223, Sturgeon County, the site of Meta's first Canadian data center, were acquired by Vibro Information Services Ltd. on 6 February 2026 for an aggregate C$300,093,144: 956.89 acres from 1598313 Alberta Ltd. for C$163,727,616, 160 acres from Pembina Pipeline for C$27,379,200 and 636.91 acres from Suncor Energy for C$108,986,328, based on Government of Alberta land records. | acquisition | n.a. | Transfers registered 6 February 2026; first publicly reported in the current cycle; single outlet (The Realist) | Meta Sturgeon County data center (Alberta) |  |
| Blockfusion USA, Inc. + Blue Acquisition Corp. + Blockfusion Digital Infrastructure, Inc. (Pubco)Blockfusion, owner of the Niagara Falls, New York campus leased to CoreWeave, plans to go public through a business combination with the SPAC Blue Acquisition Corp. The latest amendment raises the earnout to up to 15 million shares at $13, $15 and $17 price thresholds and excludes a CoreWeave warrant for 2,786,624 Blockfusion shares from certain calculations. The investor presentation models about $200 million of proceeds to Blockfusion from $100 million of financing plus retained trust cash, which is an assumption, not a commitment. | other | n.a. | Backfill (not previously recorded). Business Combination Agreement signed 19 November 2025 and amended six times in 2026; closing assumed for November 2026 in the company's investor presentation | Niagara Falls AI campus (NY) |  |
| Amazon.com, Inc.Amazon sold EUR 14.5 billion of senior unsecured notes in eight tranches maturing from 2028 to 2064, a day after pricing its $37.0 billion US dollar offering. | senior notes | n.a. | Backfill (not previously recorded). Final prospectus supplement filed 13 March 2026; settlement on or about 16 March 2026 | n.a. |  |
| Amazon.com, Inc.Amazon sold C$14.0 billion of Maple bonds in five tranches maturing from 2029 to 2056, for general corporate purposes including capital expenditures. | senior notes | n.a. | Backfill (not previously recorded). Priced 8 June 2026; final prospectus supplement filed 10 June 2026; settlement on or about 12 June 2026 | n.a. |  |
| Alphabet Inc.Alphabet sold GBP 5.5 billion of senior unsecured notes in five tranches, including a 100-year tranche due 2126. | senior notes | n.a. | Backfill (not previously recorded). Final prospectus supplement filed 12 February 2026; settlement on or about 13 February 2026 | n.a. |  |
| Alphabet Inc.Alphabet sold EUR 9.0 billion of senior unsecured notes in six tranches maturing from 2030 to 2063, alongside a Canadian dollar offering filed the same day. | senior notes | n.a. | Backfill (not previously recorded). Final prospectus supplement filed 7 May 2026; settlement on or about 11 May 2026 | n.a. |  |
| Alphabet Inc.Alphabet sold C$8.5 billion of Maple bonds in four tranches maturing from 2031 to 2056. | senior notes | n.a. | Backfill (not previously recorded). Final prospectus supplement filed 7 May 2026; settlement on or about 11 May 2026 (interest accrues from 15 May 2026) | n.a. |  |
| Alphabet Inc.Alphabet sold JPY 576.5 billion of senior unsecured yen notes in seven tranches maturing from 2029 to 2066. | senior notes | n.a. | Backfill (not previously recorded). Final prospectus supplement filed 18 May 2026; settlement on or about 21 May 2026 | n.a. |  |
| Atlantic HPC Group Inc. + Valley Oasis Development LLC + Aperture AC (SPAC merger partner)Atlantic HPC Group, a bitcoin mining and computing facility operator that is merging with the SPAC Aperture AC, completed on 23 September 2026 the acquisition of 100% of Valley Oasis Development LLC, which holds two power contracts dated 3 September 2026 with Dyersburg Electric System (a TVA local power company) for 29 MW of aggregate contract demand and a one-acre land lease at 1 Bekaert Drive, Dyersburg, Tennessee. About 14.5 MW can be served on existing utility infrastructure once Atlantic funds utility construction; the other 14.5 MW needs transformer upgrades. The site is zoned heavy industrial and described as suitable for bitcoin mining and high-density AI compute. The purchase price was not disclosed. Atlantic puts its utility-approved capacity at 127 MW across Oklahoma, Arkansas, Ohio and Tennessee. | acquisition | n.a. | Completed 23 September 2026; announced 30 September 2026 (release filed by Aperture AC on Form 8-K) | n.a. |  |
| FingerMotion, Inc. + BlueFlare Group Holdings Inc. + Undisclosed sellerBinding Agreement of Purchase and Sale for about 20.2 acres (8.18 hectares) at 409 Pioneer Trail S., Hanna, Alberta, to be held by Hanna Campus #1 Inc. Conditions cover title, environmental condition, zoning and permits, utilities and access, and financing. | acquisition | n.a. | Announced 1 October 2026 (company release); agreement executed 30 September 2026; closing 30 days after a 60-day due diligence period | Hanna Campus #1 (FingerMotion and BlueFlare) (Alberta) |  |
| Carrier Connect Data Solutions + PureColo Inc. + Carbon60 Operating Co.Carrier Connect Data Solutions, through its subsidiary PureColo Inc., completed the purchase of the principal business assets of the Saint John, New Brunswick data center operation from Carbon60 Operating Co. The company said the deal brought it to five data centers under management, with markets in Vancouver, Ottawa and Saint John. | acquisition | n.a. | Asset purchase agreement dated 27 February 2026; completion announced 2 March 2026 (company release) | n.a. |  |
| Galaxy Digital + CoreWeaveCoreWeave signed a 15-year, 133 MW critical IT lease at Galaxy's Helios campus in Dickens County, Texas on 28 March 2025, then exercised options and executed a Phase II lease, committing to the full 800 MW of approved gross power: Phase I 133 MW critical IT (about 200 MW gross, first half 2026), Phase II 260 MW (about 400 MW gross, 2027) and Phase III 133 MW (about 200 MW gross, 2028), 526 MW critical IT in total. Galaxy said the leases are expected to produce more than $1 billion of average annual revenue. | lease | n.a. | Initial 15-year lease 28 March 2025; final option exercised and Phase II lease executed in the third quarter of 2025 (Galaxy releases of 5 August 2025 and 21 October 2025) | Helios II data center (Dickens County) (TX) |  |
| Ormat Technologies + Switch, Inc.• In January 2026, we entered into a new 20-year PPA with Switch, Inc., a leading provider of data center infrastructure, pursuant to which Switch will purchase approximately 13MW of carbon-free geothermal capacity 34 from our Salt Wells geothermal power plant located near Fallon, Nevada. | other | n.a. | Filed Aug 6, 2026 | n.a. |  |

The record

## Sourced facts on Galaxy Digital Inc.

- The notes amortize at 4.00% per annum of the original principal amount, with the first amortization payment at least ten months after project completion.

Sources

## Sources for Galaxy Digital Inc.

Every source cited on this page, once each. The full atlas source register is at [Capital Atlas sources](https://savrn.com/data-center-capital-atlas/sources).

- sec.gov[SEC 8-K (Galaxy Digital)](https://www.sec.gov/Archives/edgar/data/0001859392/000185939226000074/exhibit991-pressreleasepri.htm)
- newswire.ca[Galaxy (PR Newswire via Newswire.ca)](https://www.newswire.ca/news-releases/galaxy-provides-update-on-ercot-batch-zero-large-load-classifications-802676736.html)
- sec.gov[SEC EDGAR (Galaxy Q2 2026 press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1859392/000185939226000084/glxy-20260630xpressrelease.htm)
- sec.gov[Amazon final prospectus supplement, Form 424(b)(5) (SEC)](https://www.sec.gov/Archives/edgar/data/1018724/000110465926027125/tm266670-4_424b5.htm)
- sec.gov[Meta final prospectus supplement, Form 424(b)(2) (SEC)](https://www.sec.gov/Archives/edgar/data/1326801/000119312526201738/d109954d424b2.htm)
- sec.gov[Alphabet final prospectus supplement, Form 424(b)(2) (SEC)](https://www.sec.gov/Archives/edgar/data/1652044/000119312526046846/d108033d424b2.htm)
- sec.gov[SEC Form 8-K exhibit: Q2 2026 earnings release](https://www.sec.gov/Archives/edgar/data/2071778/000207177826000046/fermiq22026erex_991.htm)
- sec.gov[SEC Form 10-Q (Fermi Inc., Q2 2026)](https://www.sec.gov/Archives/edgar/data/2071778/000207177826000051/frmi-20260630.htm)
- finanznachrichten.de[Fermi release, 22 September 2026 (ACCESS Newswire via FinanzNachrichten)](https://www.finanznachrichten.de/nachrichten-2026-09/69648383-fermi-inc-fermi-and-tensorwave-agree-to-extend-closing-date-to-october-31-2026-200.htm)
- sec.gov[Cipher Digital Form 8-K, 25 September 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1819989/000181998926000043/cifr-20260924.htm)
- sec.gov[Cipher Digital press release, Exhibit 99.1 (SEC)](https://www.sec.gov/Archives/edgar/data/1819989/000181998926000043/barberlakeleaseamendmentpr.htm)
- investing.com[Investing.com](https://www.investing.com/news/company-news/coreweave-plans-3-billion-convertible-notes-offering-93CH-4905333)
- stocktwits.com[Stocktwits News](https://stocktwits.com/news-articles/markets/equity/core-weave-lands-higher-priced-ai-compute-deals-seeks-3-b-more/cZtrFqjRB5H)
- stocktitan.net[CoreWeave pricing release via Stock Titan](https://www.stocktitan.net/news/CRWV/core-weave-prices-upsized-3-7-billion-convertible-senior-notes-mehpzqf6tg8n.html)
- investing.com[Investing.com](https://www.investing.com/news/company-news/coreweave-prices-37-billion-convertible-notes-offering-93CH-4907109)
- sec.gov[CoreWeave Form 8-K, 22 September 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1769628/000176962826000432/crwv-20260917.htm)
- sec.gov[CoreWeave Form 8-K Exhibit 99.1, pricing release (SEC)](https://www.sec.gov/Archives/edgar/data/1769628/000176962826000432/ex991pricing.htm)
- prnewswire.com[PR Newswire (Galaxy)](https://www.prnewswire.com/news-releases/galaxy-announces-second-quarter-2026-financial-results-302843529.html)
- finance.yahoo.com[Blockfusion (GlobeNewswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/blockfusion-signs-15-anchor-lease-113000527.html)
- sec.gov[SEC Form 425 (Blockfusion USA)](https://www.sec.gov/Archives/edgar/data/2097508/000118518526004075/bldc425091626.htm)
- sec.gov[Blue Acquisition Corp. Form 8-K, Sixth Amendment to BCA (SEC)](https://www.sec.gov/Archives/edgar/data/2059654/000118518526004183/bacc8k425092026.htm)
- sec.gov[Blue Acquisition Corp. Form 8-K, 25 September 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/2059654/000118518526004321/bacc8k425092426.htm)
- sec.gov[Blockfusion investor presentation, Exhibit 99.1 (SEC)](https://www.sec.gov/Archives/edgar/data/2059654/000118518526004321/baccex99-1.htm)
- sec.gov[CleanSpark Form 8-K Exhibit 99.2 (SEC)](https://www.sec.gov/Archives/edgar/data/0000827876/000119312526393758/clsk-ex99_2.htm)
- prnewswire.com[CleanSpark press release (PR Newswire)](http://www.prnewswire.com/news-releases/cleanspark-inc-announces-proposed-offering-of-2-227-billion-of-senior-secured-notes-302881360.html)
- sec.gov[CleanSpark Form 8-K Exhibit 99.1, pricing release (SEC)](https://www.sec.gov/Archives/edgar/data/827876/000119312526395727/clsk-ex99_1.htm)
- sec.gov[CleanSpark Sandersville investor presentation, Form 8-K Exhibit 99.1 (SEC)](https://www.sec.gov/Archives/edgar/data/827876/000119312526393758/clsk-ex99_1.htm)
- sec.gov[CleanSpark Form 8-K, 25 September 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/827876/000119312526402944/clsk-20260925.htm)
- sec.gov[SEC EDGAR (Axe Compute press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1446159/000117184326004883/exh_991.htm)
- sec.gov[SEC Form 10-Q (Axe Compute, Q2 2026, Note 15)](https://www.sec.gov/Archives/edgar/data/1446159/000117184326005556/agpu20260630_10q.htm)
- au.finance.yahoo.com[Investing.com via Yahoo Finance](https://au.finance.yahoo.com/news/exclusive-axe-compute-ceo-says-183410359.html)
- sec.gov[Galaxy Digital third quarter 2025 results release (Form 8-K exhibit)](https://www.sec.gov/Archives/edgar/data/1859392/000185939225000073/glxy-20250930xpressrelease.htm)
- finance.yahoo.com[AIB Data Centers release (GlobeNewswire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/aib-data-centers-signs-contract-121700973.html)
- sec.gov[AIB Data Centers Form 10-Q for quarter ended 30 June 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/2070542/000121390026089151/ea0301093-10q_aibdata.htm)
- sec.gov[AIB Data Centers Form 8-K Exhibit 99.1, investor presentation Q3 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/2070542/000121390026105249/ea030723301ex99-1.htm)
- sec.gov[SEC EDGAR (Axe Compute press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1446159/000117184326004814/exh_991.htm)
- sec.gov[Cipher Mining Form 8-K, 30 September 2025 event](https://www.sec.gov/Archives/edgar/data/1819989/000119312525225645/d52925d8k.htm)
- sec.gov[TeraWulf Form 8-K, 29 December 2025](https://www.sec.gov/Archives/edgar/data/1083301/000110465925124839/tm2534384d1_8k.htm)
- sec.gov[Host Digital Form 8-K (SEC)](https://www.sec.gov/Archives/edgar/data/1948864/000149315226043135/form8-k.htm)
- sec.gov[Host Digital Form 8-K Exhibit 99.1 (SEC)](https://www.sec.gov/Archives/edgar/data/1948864/000149315226043135/ex99-1.htm)
- sec.gov[Host Digital preliminary prospectus supplement 424B5 (SEC)](https://www.sec.gov/Archives/edgar/data/1948864/000149315226043166/form424b5.htm)
- sec.gov[Host Digital Form 8-K, 21 September 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1948864/000149315226043572/form8-k.htm)
- sec.gov[Host Digital closing release, Exhibit 99.3 (SEC)](https://www.sec.gov/Archives/edgar/data/1948864/000149315226043572/ex99-3.htm)
- sec.gov[Solaris Form 8-K (SEC)](https://www.sec.gov/Archives/edgar/data/1697500/000119312526397255/d182097d8k.htm)
- sec.gov[Solaris Form 8-K Exhibit 99.2, offering release (SEC)](https://www.sec.gov/Archives/edgar/data/1697500/000119312526397255/d182097dex992.htm)
- sec.gov[Solaris Form 8-K Exhibit 99.1, investor information (SEC)](https://www.sec.gov/Archives/edgar/data/1697500/000119312526397255/d182097dex991.htm)
- sec.gov[Solaris Form 8-K, pricing (SEC)](https://www.sec.gov/Archives/edgar/data/1697500/000119312526399432/d61421d8k.htm)
- sec.gov[Solaris Form 8-K Exhibit 99.1, pricing release (SEC)](https://www.sec.gov/Archives/edgar/data/1697500/000119312526399432/d61421dex991.htm)
- sec.gov[Solaris Form 8-K, 1 October 2026](https://www.sec.gov/Archives/edgar/data/1697500/000119312526410682/d567251d8k.htm)
- sec.gov[CleanSpark Form 8-K, 13 November 2025](https://www.sec.gov/Archives/edgar/data/827876/000119312525280105/clsk-20251113.htm)
- prnewswire.com[PR Newswire](https://www.prnewswire.com/news-releases/csquare-inc-announces-pricing-of-initial-public-offering-302827109.html)
- sec.gov[SEC Form 424B4 (Csquare)](https://www.sec.gov/Archives/edgar/data/2105398/000110465926084293/tm264837-15_424b4.htm)
- sec.gov[SEC Form 8-K (Csquare)](https://www.sec.gov/Archives/edgar/data/2105398/000110465926084616/tm264837d22_8k.htm)
- sec.gov[TeraWulf Form 8-K, 31 October 2025](https://www.sec.gov/Archives/edgar/data/1083301/000110465925104928/tm2529894d1_8k.htm)
- sec.gov[SEC EDGAR (Bitdeer 424B5)](https://www.sec.gov/Archives/edgar/data/1899123/000121390026087060/ea030073702-424b5_bitdeer.htm)
- sec.gov[SEC Form 6-K (Bitdeer)](https://www.sec.gov/Archives/edgar/data/1899123/000121390026087067/ea0301286-6k_bitdeer.htm)
- fool.com[The Motley Fool](https://www.fool.com/investing/2026/08/14/why-investors-were-cold-on-bitdeer-technologies-st/)
- sec.gov[Core Scientific Form 8-K, 6 March 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1839341/000162828026015622/core-20260304.htm)
- sec.gov[Core Scientific Form 8-K, 23 March 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1839341/000162828026020327/core-20260318.htm)
- sec.gov[Core Scientific Form 8-K, 6 May 2026, Item 1.02 (SEC)](https://www.sec.gov/Archives/edgar/data/1839341/000119312526208905/d47435d8k.htm)
- sec.gov[TeraWulf Form 8-K, 22 August 2025](https://www.sec.gov/Archives/edgar/data/1083301/000110465925081886/tm2523651d6_8k.htm)
- sec.gov[Zone Frontier Form 10-K for fiscal year ended 30 June 2026 (SEC)](https://www.sec.gov/Archives/edgar/data/1956741/000121390026104157/ea0306318-10k_zone.htm)
- sec.gov[SEC Form 8-K exhibit: FY2025 shareholder letter](https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/frmiex991fy2025shletter.htm)
- sec.gov[SEC EDGAR (Core Scientific 8-K)](https://www.sec.gov/Archives/edgar/data/1839341/000183934126000021/core-20260825.htm)
- sec.gov[SEC EDGAR (Core Scientific press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1839341/000183934126000021/revolverprvf.htm)
- sec.gov[SEC EDGAR (Riot Platforms 8-K)](https://www.sec.gov/Archives/edgar/data/1167419/000110465926097330/riot-20260810x8k.htm)
- riotplatforms.com[Riot Platforms](https://www.riotplatforms.com/riot-platforms-reports-second-quarter-2026-financial-results-and-strategic-highlights/)
- sec.gov[SEC EDGAR (Axe Compute press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1446159/000117184326005581/exh_991.htm)
- sec.gov[SEC Form 8-K (Duos Technologies, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1396536/000155335026000118/ex99x1.htm)
- pulse2.com[Pulse 2.0](https://pulse2.com/axe-compute-receives-more-than-184-million-in-prepayments-and-signs-over-266-million-in-new-ai-contracts/)
- sec.gov[Cipher Mining Form 8-K, 22 May 2025](https://www.sec.gov/Archives/edgar/data/1819989/000119312525125152/d86394d8k.htm)
- sec.gov[SEC EDGAR (New Era Energy & Digital Form 8-K, event 7 October 2026)](https://www.sec.gov/Archives/edgar/data/2028336/000121390026107704/ea0308042-8k_newera.htm)
- sec.gov[SEC EDGAR (TECfusions and Apex Treasury joint press release, Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/2079253/000121390026080199/ea029866401ex99-1.htm)
- sec.gov[Bitari Form S-1/A, Amendment No. 2 (SEC)](https://www.sec.gov/Archives/edgar/data/2091680/000118518526004385/bitaris1a2092826.htm)
- sec.gov[SEC Form 8-K EX-99.1 (Corvex, Inc.)](https://www.sec.gov/Archives/edgar/data/1734750/000121390026096776/ea030434301ex99-1.htm)
- prnewswire.com[Hyperscale Data release (PR Newswire), 3 August 2026](https://www.prnewswire.com/news-releases/hyperscale-data-establishes-bitcoin-backed-defi-financing-program-through-morpho-protocol-current-borrowings-approximately-30-million-at-4-9-to-support-michigan-ai-data-center-expansion-302840711.html)
- sec.gov[SEC EDGAR (AIB Data Centers 8-K)](https://www.sec.gov/Archives/edgar/data/2070542/000121390026099305/ea0305122-8k_aib.htm)
- sec.gov[Z Squared Form 8-K (SEC), filed 14 September 2026](https://www.sec.gov/Archives/edgar/data/1759186/000118518526003984/zsqr8k091426.htm)
- theglobeandmail.com[TipRanks via The Globe and Mail, 15 September 2026](https://www.theglobeandmail.com/investing/markets/stocks/ZSQR-Q/pressreleases/4622462/z-squared-acquires-union-county-data-center-campus/)
- finanznachrichten.de[FingerMotion release (GlobeNewswire via finanznachrichten.de), 29 September 2026](https://www.finanznachrichten.de/nachrichten-2026-09/69713244-fingermotion-inc-fingermotion-enters-definitive-agreement-to-ac)
- finance.yahoo.com[Carrier Connect Data Solutions release via Yahoo Finance (9 June 2026)](https://finance.yahoo.com/markets/stocks/articles/carrier-connect-data-solutions-signs-120000211.html)
- sec.gov[SEC Form S-1 (SB Energy, Inc.)](https://www.sec.gov/Archives/edgar/data/2133037/000162828026059639/sbenergy-sx1.htm)
- sec.gov[SB Energy Form S-1/A Amendment No. 2 (SEC)](https://www.sec.gov/Archives/edgar/data/2133037/000162828026062846/sbenergy-sx1a2.htm)
- sec.gov[SB Energy revolving credit agreement, Exhibit 10.41 (SEC)](https://www.sec.gov/Archives/edgar/data/2133037/000162828026062846/exhibit1041-revolvercredit.htm)
- tradingview.com[Reuters via TradingView (citing NYT), 21 September 2026](https://www.tradingview.com/news/reuters.com,2026:newsml_FWN45D0CD:0-softbank-backed-sb-energy-delays-its-ipo-nyt/)
- wmbdradio.com[Reuters via WMBD (citing Bloomberg)](https://wmbdradio.com/2026/08/07/data-center-firm-switch-confidentially-files-for-us-ipo-bloomberg-news-reports/)
- finance.yahoo.com[Investing.com via Yahoo Finance (citing Bloomberg)](https://finance.yahoo.com/markets/stocks/articles/data-center-operator-switch-plans-010921960.html)
- sec.gov[ERock Form 8-K Exhibit 99.1](https://www.sec.gov/Archives/edgar/data/2110029/000119312526344714/eroc-ex99_1.htm)
- howardchai.substack.com[The Realist (Howard Chai)](https://howardchai.substack.com/p/meta-alberta-sturgeon-county-data-centre-land-sale-vibro-information-systems)
- sec.gov[Blue Acquisition Corp Form 8-K, Business Combination Agreement (SEC)](https://www.sec.gov/Archives/edgar/data/2059654/000118518525001805/bacc8k425111425.htm)
- sec.gov[Amazon final prospectus supplement, Form 424(b)(5) (SEC)](https://www.sec.gov/Archives/edgar/data/1018724/000110465926027669/tm266670-6_424b5.htm)
- sec.gov[Amazon final prospectus supplement, Form 424(b)(5) (SEC)](https://www.sec.gov/Archives/edgar/data/1018724/000110465926072332/tm2613616-2_424b5.htm)
- sec.gov[Alphabet final prospectus supplement, Form 424(b)(2) (SEC)](https://www.sec.gov/Archives/edgar/data/1652044/000119312526048730/d108423d424b2.htm)
- sec.gov[Alphabet final prospectus supplement, Form 424(b)(2) (SEC)](https://www.sec.gov/Archives/edgar/data/1652044/000119312526212210/d152073d424b2.htm)
- sec.gov[Alphabet final prospectus supplement, Form 424(b)(2) (SEC)](https://www.sec.gov/Archives/edgar/data/1652044/000119312526212222/d325417d424b2.htm)
- sec.gov[Alphabet final prospectus supplement, Form 424(b)(5) (SEC)](https://www.sec.gov/Archives/edgar/data/1652044/000119312526228923/d137872d424b5.htm)
- sec.gov[Aperture AC Form 8-K Exhibit 99.1](https://www.sec.gov/Archives/edgar/data/2093524/000121390026104880/ea030716601ex99-1.htm)
- markets.businessinsider.com[FingerMotion release (GlobeNewswire via Markets Insider)](https://markets.businessinsider.com/news/stocks/fingermotion-and-blueflare-sign-binding-agreement-to-acquire-20-acre-site-in-hanna-alberta-establishing-hanna-campus-1-for-ai-inference-compute-1036589447)
- finance.yahoo.com[Carrier Connect Data Solutions release via Yahoo Finance (2 March 2026)](https://finance.yahoo.com/news/carrier-connect-data-solutions-inc-130000254.html)
- sec.gov[Galaxy Q2 2025 results (Form 8-K Ex. 99.1)](https://www.sec.gov/Archives/edgar/data/1859392/000185939225000032/glxy-20250630xpressrelease.htm)
- sec.gov[SEC EDGAR 10-Q](https://www.sec.gov/Archives/edgar/data/1296445/000129644526000014/ora-20260630.htm)

### NeoCloud and GPU cloud: one page each

[Applied Digital 5](https://savrn.com/data-center-capital-atlas/company/applied-digital)[Bitdeer Technologies Group 2](https://savrn.com/data-center-capital-atlas/company/bitdeer)[Cerebras Systems 6](https://savrn.com/data-center-capital-atlas/company/cerebras)[Cipher Digital Inc. 0](https://savrn.com/data-center-capital-atlas/company/cipher-digital)[Core Scientific 2](https://savrn.com/data-center-capital-atlas/company/core-scientific)[CoreWeave 4](https://savrn.com/data-center-capital-atlas/company/coreweave)[Corvex, Inc. 0](https://savrn.com/data-center-capital-atlas/company/corvex)[Crusoe Energy 5](https://savrn.com/data-center-capital-atlas/company/crusoe-energy)[Fluidstack 2](https://savrn.com/data-center-capital-atlas/company/fluidstack)[Galaxy Digital Inc. 1](https://savrn.com/data-center-capital-atlas/company/galaxy-digital)[Groq 1](https://savrn.com/data-center-capital-atlas/company/groq)[Hut 8 Corp. 1](https://savrn.com/data-center-capital-atlas/company/hut8)[IREN 1](https://savrn.com/data-center-capital-atlas/company/iren)[Lambda (Lambda Labs) 2](https://savrn.com/data-center-capital-atlas/company/lambda)[Nebius Group 4](https://savrn.com/data-center-capital-atlas/company/nebius-group)[Nscale 2](https://savrn.com/data-center-capital-atlas/company/nscale)[Poolside 1](https://savrn.com/data-center-capital-atlas/company/poolside)[SambaNova Systems 0](https://savrn.com/data-center-capital-atlas/company/sambanova)[Sesterce 3](https://savrn.com/data-center-capital-atlas/company/sesterce)[TeraWulf 1](https://savrn.com/data-center-capital-atlas/company/terawulf)[Together AI 0](https://savrn.com/data-center-capital-atlas/company/together-ai)[Voltage Park 6](https://savrn.com/data-center-capital-atlas/company/voltage-park)[Vultr 1](https://savrn.com/data-center-capital-atlas/company/vultr)[WhiteFiber, Inc. 2](https://savrn.com/data-center-capital-atlas/company/whitefiber)

The figure beside each provider is its count of named sites in the atlas.

Part of the [North American Data Center Capital Atlas](https://savrn.com/data-center-capital-atlas), refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so this page shows each figure as its source states it and never adds them into a single deployment number. Informational, not investment advice.

The SAVRN reference set

## Seven references, one system

Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.

Delay Watchlist

Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.

[Open the watchlist →](https://savrn.com/data-center-delay-tracker)

Moratorium Tracker

The policy layer: every state measure and local moratorium mapped and cited, with one page per state.

Open the tracker →

Water Tracker

Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.

Open the water tracker →

Grid Operator Watchlist

ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.

Open the watchlist →

Permits and Power Development

Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.

Open the permits tracker →

SAVRN Scarcity Tracker

Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.

Open the scarcity tracker →

Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.

[Check an address →](https://savrn.com/site-intelligence)