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NEWS ROUNDUP

DEVELOPMENT: Iron County approves 640-acre data center. Iron County officials have approved a conditional use permit for a 640-acre data center campus proposed by Pronghorn Development near Cedar City, Utah. The project will include five large data center buildings, each reportedly about four times the size of the Utah State Capitol, and is expected to be built over an eight- to ten-year timeline.

DEVELOPMENT: Pikeville explores $250 million data center development. The City of Pikeville, Kentucky, has entered into a preliminary agreement with MD Squared Power to explore the development of a $250 million data center at the Kentucky Enterprise Industrial Park. The proposed facility would initially support 25–30MW of computing capacity across approximately 100 acres, with the potential to expand to 75–100MW if additional power becomes available. The project is expected to create more than 190 construction jobs and 40 permanent positions, according to the developer.

DEVELOPMENT: Developer unveils $570 million tech campus in Albany. EKG Group is advancing plans for Kenwood Commons, a mixed-use technology campus on the former 76-acre Kenwood Academy property in Albany, New York, anchored by a 500,000-square-foot data center alongside research labs, office space, clean-tech manufacturing facilities, nearly 300 apartments, and ground-floor retail. The project is being led by Michael-Henry Elghanian-Krayem, whose firm acquired the property in 2023 and has since explored multiple redevelopment concepts, including market-rate housing, affordable housing, and warehouse logistics uses before settling on the current plan. According to project materials, initial construction could total $570 million, with long-term tenant investment potentially reaching $2.8 billion.

FINANCING: Hut 8 prices $4.25 billion financing for 352MW data center campus. Hut 8 has priced $4.25 billion of 6.129% senior secured notes due 2042 through its subsidiary Beacon Point DC LLC to fund the development of the Beacon Point data center campus in Nueces County, Texas. The financing, which is structured as non-recourse debt to Hut 8, will support the construction of a turnkey data center, an on-site substation, debt service reserves, and related project costs. The first phase of the project will include six data halls delivering 352MW of critical IT capacity across approximately 521 acres.

READ: NY lawmakers move to pause data centers and curb surveillance pricing.

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