BlockchAIn Digital Infrastructure (AIB) Targets AI Colocation With 65 MW Contracted and Lease Talks in Progress

Sixty-five megawatts of contracted power and an active lease negotiation for that full capacity put BlockchAIn Digital Infrastructure (NYSEAMERICAN: AIB) in focus after a conference presentation where management laid out the company's exit from Bitcoin mining and its move into AI and high-performance computing hosting. The next confirmable milestone is a signed definitive lease.

Power position and the gap left by mining

CFO Jolienne Halisky said the company holds 65 MW of contracted power, roughly 140 MW under development and approximately 570 MW of total identified capacity. AIB shut down substantially all Bitcoin mining on June 5 after determining it was buying power at $0.066 per kilowatt-hour and reselling it at $0.063 per kilowatt-hour. The site has remained de-energized since, leaving a revenue gap the company is working to close through AI colocation leases it underwrites at $0.07 per kilowatt-hour, with power costs passed through to tenants.

In the second quarter, AIB raised $63 million in a follow-on offering with institutional investors, reporting net proceeds of $59 million. The company ended June with $52.8 million in cash and no traditional debt. Shares outstanding stood at roughly 76 million, with approximately 89 million fully diluted.

The pipeline and how the model is structured

One counterparty is already in active lease negotiations covering 65 MW of utility load and 50 MW of critical IT load, Halisky said. Proposed leases carry initial terms of 10 to 12 years, two five-year renewal options and annual escalators of 3% or the greater of 3% and CPI, with 12 months of prepaid rent. Electricity passes through to tenants.

Halisky described AIB's approach as "power first": development does not begin on anticipated future interconnection, and each site is intended to be backed by an executed energy services agreement. VP of Sales Gary Heitz said the company focuses on sites ranging from 50 to 150 MW, arguing that scale can deliver faster and may face less exposure to local moratoriums than larger campuses. "The bottleneck is not the land," Heitz said. "It is the utility agreements. It is the transmissions. It is the delivery schedules."

Halisky said AIB does not plan to finance construction of a 65 MW data center entirely from its corporate balance sheet. On June 23, the company formed AIBCLT1 LLC as a special-purpose entity to hold real-property interests, contracts and potential project-level financing, with corporate cash covering development costs and long-lead equipment.

Six counterparties are in discussions across GPU cloud platforms, sovereign AI infrastructure, bare-metal GPU marketplaces, AI silicon companies and hosted infrastructure platforms. Watch for a definitive lease agreement and a project financing announcement tied to the AIBCLT1 LLC structure.

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