BlockchAIn Digital Infrastructure Unveils $1B+ Nebius Data Center Lease Strategy

Key Points

• BlockchAIn Digital Infrastructure is pursuing smaller, power-secured data centers, generally ranging from 50 MW to 75 MW, with 120 MW of contracted power and five additional sites under evaluation.
• Its first project, anchored by Nebius, includes 50 MW of contracted IT load, a 12-year lease with renewal options and a total contract value of well over $1 billion. Customer prepayments of roughly $100 million to $200 million are expected to help fund construction.
• The company is expanding its pipeline with the Texas-based DFW One site and other potential projects representing about 280 MW, while planning to use project-level debt and preferred equity rather than another common-stock raise for the Nebius development.

BlockchAIn Digital Infrastructure NYSEAMERICAN: AIB outlined a data-center development strategy centered on smaller, power-secured facilities, long-term tenant contracts and project-level financing during a presentation by CFO Jolienne Halisky.

Halisky said the company views itself as a “right-sized developer,” targeting projects below 100 megawatts, with a preferred range of roughly 50 MW to 75 MW. The approach is intended to simplify lease negotiations, equipment procurement and community engagement compared with larger hyperscale developments.

“We are power first,” Halisky said, explaining that the company does not pursue a site unless it expects assured power availability within 12 months. She contrasted that approach with what the company describes as “maybe power,” or grid capacity that has not been firmly secured.

Power Supply and AI Demand

The presentation emphasized the anticipated expansion of AI-related data-center demand. Halisky cited estimates that global data-center power demand could rise from 82 gigawatts in 2025 to 220 GW by 2030, with AI workloads expected to account for 70% of capacity. She also pointed to projected worldwide data-center electricity use of about 945 terawatt-hours by 2030, compared with 415 TWh currently.

According to Halisky, the company has 120 MW of contracted power under energy service agreements or facilities extension agreements. It also has a tenant contract for 50 MW of critical IT load and five additional sites under evaluation.

She described power availability, hardware supply and capital as key constraints in the AI infrastructure market. While the company does not provide servers or graphics processing units, it aims to develop the building, electrical infrastructure and cooling systems before leasing critical IT capacity to customers that install and operate their own hardware.

Nebius Lease and First Development

AIB Data Centers’ first development is expected to be anchored by Nebius. Halisky said the project has a contracted utility power load of 65 MW and contracted IT load of 50 MW. The lease has an initial 12-year term and two five-year renewal options.

The project is planned as a phased build with two 25-MW data halls. The first hall is expected within 10 months, followed by the second hall roughly four months later. Halisky said the company expects the first phase to begin producing operational cash flow during construction because Nebius is funding the build-out of its white space and paying the company to perform that work.

While she did not disclose all commercial terms, Halisky said the lease is priced above a typical range of $1.8 million to $2.1 million, and that its total value over the life of the agreement is “well over” $1 billion.

The lease includes customer prepayments, which Halisky said are generally equal to one to two years of rent and could total $100 million to $200 million. Those funds will be held in escrow and used for permitted construction-related expenses, she said.

• Customer prepayments are expected to support construction funding.
• Project-level debt is anticipated by mid-December or early January, according to Halisky.
• The company also expects to use preferred equity, either at the project special-purpose vehicle level or platform level.

Halisky said the company raised $63 million in a June follow-on offering and has used proceeds for site work, deposits on long-lead equipment and land-related activity. She said the company does not currently expect to need another common-equity raise for the Nebius project.

Pipeline Includes Texas Development

Beyond its initial South Carolina project, Halisky said the company purchased a Texas site known as DFW One, with the transaction closing in September. The site has 15 MW currently energized and another 40 MW under a facilities extension agreement expected to come online in early 2028. The company has begun marketing the site for a lease and expects it to be its next development.

Construction at DFW One could begin in the first quarter, she said. The company expects a single-tenant arrangement for the property.

Halisky also cited DFW Two, which is under an exclusive letter of intent and could close within 45 days; GSO One, under an exclusive letter of intent with a right to purchase; and MSP One, also under an exclusive letter of intent. Excluding the CLT One project, she said the company’s undeveloped opportunities represent an additional 280 MW, with illustrative annual revenue of $546 million and total contract value of $6.5 billion.

Addressing timing and execution risk, Halisky said the Nebius agreement provides a 30-day grace period for delivery. The first data hall is scheduled for delivery in 10 months and the second in 14 months. The tenant has termination optionality if delivery is delayed more than six months, subject to force majeure and other provisions.

Halisky said the company is targeting a low-double-digit yield on cost for its initial development, though final figures remain subject to design and procurement decisions. She added that AIB typically evaluates about 20 potential land opportunities before reaching a definitive agreement and aims to have 200 MW to 300 MW under contract by year-end.

About BlockchAIn Digital Infrastructure (NYSEAMERICAN:AIB)

BlockchAIn Digital Infrastructure Inc is engaged in the digital infrastructure business, providing data center operations and high-performance computing services. The company offers power infrastructure, hosting services, and equipment leasing to customers involved in blockchain computing, artificial intelligence, and high-performance data processing. Its operations include leasing space, power capacity, and equipment within data center facilities, as well as offering modular digital asset mining containers and related hardware and support services.

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