BlockchAIn Digital Infrastructure is positioning itself for AI data center workloads by securing 65 MW of contracted power capacity.
BlockchAIn Digital Infrastructure (NYSE American: AIB) has outlined its strategy to convert powered land and former Bitcoin mining sites into facilities optimized for artificial intelligence hosting and high-performance computing workloads. The approach emphasizes secured utility capacity, modular construction, and tenant-provided GPUs. During a conference presentation, CFO Jolienne Halisky explained that the company follows a “power first” approach, meaning it does not initiate development based on anticipated future interconnections. Instead, each site requires an executed energy services agreement (ESA) alongside confirmed access to generation and transmission infrastructure.
Halisky reported that AIB currently holds 65 megawatts of contracted power, with approximately 140 MW under development and roughly 570 MW of total identified capacity. She noted that data center power demand is expanding more rapidly than grid infrastructure additions, while interconnection queues in major markets can stretch five to six years. To address these constraints, AIB’s facilities are engineered for AI and HPC deployments, featuring 150 kilowatts per rack, liquid cooling systems, and N+1 redundancy. By leveraging pre-powered, pre-zoned sites and modular 10 MW data halls, the company targets a nine- to ten-month delivery schedule.
Vice President of Sales Gary Heitz stated that AIB is concentrating on developments ranging from 50 MW to 150 MW. He argued that projects at this scale can be constructed more quickly and face fewer regulatory hurdles compared to larger campuses. “The bottleneck is not the land,” Heitz said. “It is the utility agreements. It is the transmissions. It is the delivery schedules.” Heitz added that the company’s leadership team includes veterans from AWS, Digital Realty, Google, and Dell, while its vendor and operating partners include CBRE, JLL, and T5. CEO Jerry brings combined experience in banking, infrastructure development, commercial real estate, power, and data center operations.
Commercially, AIB is engaged in discussions with six active counterparties across GPU cloud platforms, sovereign AI infrastructure providers, bare-metal GPU marketplaces, AI silicon firms, and hosted infrastructure platforms. Halisky disclosed that one counterparty is currently in lease negotiations for 65 MW of utility load and 50 MW of critical IT load. Proposed lease terms would feature initial durations of 10 to 12 years, two five-year renewal options, and modified net structures. Electricity costs would be passed directly to tenants, while AIB would retain landlord expenses such as property management and taxes. The company also seeks annual escalators of 3% or the greater of 3% and CPI, along with 12 months of prepaid rent. Regarding master service agreements (MSAs), Heitz noted that while negotiations can take up to a year, several discussions have progressed within three months. The objective is to establish comprehensive MSAs that accommodate future service orders without requiring term renegotiations for each expansion.
Operationally, AIB is actively transitioning away from cryptocurrency mining. In the first quarter, the company repurposed a previously operational 40 MW Bitcoin mining facility for AI and HPC use. Following its March listing on the NYSE American, AIB signed a letter of intent to lease 26 MW at the energized site. By May, it executed an ESA that expanded power access to 65 MW and initiated lease negotiations covering the full capacity. On June 5, however, the company de-energized substantially all Bitcoin mining operations after determining that its power procurement costs exceeded the rates it could charge Bitcoin hosting customers. Halisky explained that the firm had been purchasing energy at $0.066 per kilowatt-hour while reselling it at $0.063 per kilowatt-hour. The site has remained offline since, creating a temporary revenue gap as AIB pivots toward its AI colocation strategy. For new AI leases, the company underwrites energy rates at $0.07 per kilowatt-hour, which will be passed through to tenants.
Financially, AIB raised $63 million in a second-quarter follow-on offering with institutional investors, generating $59 million in net proceeds. The company closed June with $52.8 million in cash and zero traditional debt. Halisky clarified that AIB does not intend to fund the construction of a 65 MW data center solely from its corporate balance sheet. On June 23, it established AIBCLT1 LLC, a special-purpose entity designed to hold real property interests, contracts, and potential project-level financing. Corporate capital will cover development costs, deposits, long-lead equipment, and personnel, while project financing will support construction. The company reported approximately 76 million shares outstanding and roughly 89 million fully diluted shares. Additionally, SG&A expenses increased to $2.7 million during the quarter, reflecting costs associated with maintaining its public company status and expanding its development team.
BlockchAIn Digital Infrastructure Inc. operates in the digital infrastructure sector, providing data center operations and high-performance computing services. Its offerings include power infrastructure, hosting services, and equipment leasing tailored to blockchain computing, artificial intelligence, and high-performance data processing. Core activities involve leasing space, power capacity, and equipment within data center facilities, alongside providing modular digital asset mining containers and related hardware support services.