Good morning. Welcome to Data Center View! In each issue, we cover the top stories, trends, and listings in the data center sector.

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NEWS ROUNDUP

FINANCING: Serverfarm closes $3 billion credit facility to fund hyperscale campuses. Serverfarm closed a $3.0 billion credit facility, backed by a 23-lender syndicate, to finance development and construction of multiple hyperscale campus projects across key North American markets. Avner Papouchado, CEO of Serverfarm, said the financing provides the capital base to scale its hyperscale pipeline at a time when speed-to-market is a key differentiator. Recep Kendircioglu, Global Head of Infrastructure at Manulife Investment Management, cited strong lender support.

DEVELOPMENT: Pacifico Energy wins Texas permit to power data centers. A West Texas project billed as “the largest power project in the country” has been permitted, clearing the way for Pacifico Energy’s 7.65GW “GW Ranch” to build a private electricity grid intended to serve data centers while insulating the ERCOT system from added strain and shielding Texans from potential price impacts tied to rising large-load demand.

DEVELOPMENT: Microsoft brings 1GW online in Q2. Microsoft stood up 1GW of data center capacity in Q2 FY2026 alone, accelerating deployment after bringing 2GW online across all of FY2025. Quarterly capex reached a record $37.5 billion, with roughly two-thirds directed toward short-lived assets such as GPUs and CPUs, and $6.7 billion tied to data center leases. CFO Amy Hood said capex is expected to decline sequentially due to buildout timing, though chip spending as a proportion of total capex should remain steady.

MARKET: Hut 8 pivots from Bitcoin mining to AI. Hut 8 is repositioning its business away from primarily bitcoin mining toward AI infrastructure and high-performance computing (HPC) services. As part of the shift, the company is decommissioning its Drumheller mining facility and relocating assets to its Medicine Hat site, reshaping its physical footprint to support more data center–style operations aligned with accelerating AI-driven demand.

READ: US data center investment (2014-2025) - Visualized.

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