BlockchAIn Secures 20 MW AI Data Center LOI Valued Over $400 Million
BlockchAIn signed a LOI with a cloud provider to develop a 46,550 sq ft, 20 MW AI/HPC data center in Charlotte under an initial 10-year lease worth over $400 million. Two seven-year renewal options could raise total contract value to about $1.2 billion and operations should begin nine months after definitive lease.
1. LOI Signing and Scope
BlockchAIn entered a non-binding LOI with a global cloud infrastructure provider to build a purpose-built, 46,550 sq ft data center in the Charlotte market, designed to support up to 20 MW of AI and high-performance computing workloads under a build-to-suit model.
2. Financial Commitments and Renewal Options
The initial 10-year lease carries over $400 million in total contract value. Two seven-year renewal options could extend the agreement to a potential aggregate value of approximately $1.2 billion, assuming continued operation over the full lease period.
3. Project Specifications and Timeline
The facility will sit on roughly 4.4 acres and include data halls and dedicated office space. Upon executing a definitive lease, construction is expected to begin promptly and operations are slated to commence about nine months later, pending permitting and design finalization.
4. Existing Operations and Growth Outlook
BlockchAIn currently operates a 40 MW data center campus in South Carolina, which generated $22.9 million in revenue and $5.7 million in net income in 2024. Management believes this and its modular, power-first platform position the company to scale rapidly in the growing AI infrastructure market.