Z Squared raised $15.3m in all-equity financing, maintaining virtually zero corporate debt while advancing its AI infrastructure strategy. The proceeds will fund conversion and acquisition targets, including binding LOIs for Skycore Digital (24–42 MW) and Paradox Data LLC toward a 100 MW Phase 1 goal.
Z Squared raised approximately $15.3 million through equity sales under its standby equity purchase agreement, completing its legacy financing arrangement. The all-equity tranche adds growth capital while the company retains virtually no corporate debt, preserving its balance sheet for operational deployment.
The net proceeds will fund the acquisition and conversion of existing power sites into AI-ready capacity. Z Squared has signed binding letters of intent for Skycore Digital, adding 24 MW of energized capacity with up to 42 MW potential, and for a majority interest in Paradox Data LLC’s Union County Campus.
In Phase 1, the company aims to bring a total of 100 MW of AI-ready capacity online across multiple U.S. sites within months rather than years. This strategy focuses on converting energized facilities, deploying conversion capital site by site against signed contracts, and scaling with operational discipline to meet AI workload demands.
