Shares of AI infrastructure firm BlockchAIn (NYSE: $AIB) were up over 16 percent in pre market trading after the company said it entered into a non-binding letter of intent for a 20 megawatt build-to-suit data center lease in North Carolina.
The company says the project is expected to represent over $400 million in total contract value over an initial 10-year lease term. Including two seven-year renewal options, the potential aggregate TCV could reach approximately $1.2 billion.
This latest deal follows a separate $100 million, 5 MW AI infrastructure deployment announced last week. The new 20 MW facility is expected to consist of a 46,550-square-foot core-and-shell building situated on approximately 4.4 acres.
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“On the back of the $100 Million, 5 MW AI Infrastructure Deployment we announced last week, securing an additional 20 MW build-to-suit commitment with a global cloud infrastructure provider validates the development model we have been building toward — purpose-built facilities, disciplined capital deployment, and the ability to move from LOI to construction-ready on an accelerated timeline,” said CEO Jerry Tang.
The project is one of the first major deals for the company following its merger with Signing Day Sports, Inc., which closed on March 16. BlockchAIn currently operates a 40 MW data center campus in South Carolina that generated $22.9 million in revenue in 2024.
BlockchAIn noted that operations for the new 20 MW facility are currently expected to start approximately nine months after signing the lease agreement.
Shares of BlockchAIn are trading at $3.40 pre market, up 16.44 percent.
