Bitcoin treasury management firm Empery Digital is investing $65 million into a Hunt Properties-affiliated vehicle to acquire and convert an industrial site in the US Midwest into an AI data center.
The Nasdaq-listed company said it will take a 25 percent stake in a private acquisition entity that is buying the facility, which has around 150MW of available power capacity under an existing utility agreement. A recent load study found that the site could potentially be expanded to around 300MW to support AI workloads.
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The site has operated as a power-intensive industrial facility for the past three years and includes an owned substation and associated infrastructure. The exact location of the facility was not disclosed.
According to an SEC filing, the partnership has entered into a definitive agreement to buy 100 percent of the equity interests of the current holder of the property for approximately $230 million.
