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NEWS ROUNDUP

FINANCING: DataBank secures $2 billion construction loan. DataBank has secured $2 billion in construction financing for the first three data centers at its 300-acre Red Oak campus south of Dallas. The three facilities will total 600,000 square feet and deliver 180 megawatts of capacity for AI and traditional computing workloads, with all three already leased. Kevin Ooley, DataBank’s president and chief financial officer, said the financing, combined with existing power commitments, will accelerate the campus timeline by about 18 months and help bring critical capacity to market on time.

FINANCING: Related Digital secures financing for $16 billion data center. Related Digital and Blackstone said financing has been secured for Related Digital’s $16 billion data center campus in Saline Township, Michigan. Jeff Blau, CEO of Related Companies and chairman of Related Digital, said the financing validates both the platform and the importance of the project to the country’s digital future, while Nadeem Meghji of Blackstone said the investment reflects surging demand for digital infrastructure driven by AI.

FINANCING: Hut 8 closes $3.25 billion financing. Hut 8 has closed a $3.25 billion offering of 6.192% senior secured notes due 2042 through its subsidiary Hut 8 DC, completing what the company described as a first-of-its-kind investment-grade financing for a construction-stage data center project. Proceeds will fund the development and construction of a 245-megawatt turnkey data center and related substation at the River Bend campus, return about $184 million of prior equity contributions to Hut 8, and fund debt service reserves. CEO Asher Genoot said the financing reflects the company’s long-term discipline in site selection, counterparties, and risk management, while CFO Sean Glennan said Hut 8 evaluated multiple financing options before landing on an investment-grade structure that matched the project’s cash flow profile and long-term lease economics.

MARKET: StratCap Digital Infrastructure REIT halts offering. StratCap Digital Infrastructure REIT has launched a formal review of strategic alternatives and made several immediate changes to preserve capital, including ending its public offering and distribution reinvestment plan. Jim Condon, the REIT’s president and chairman, said the moves were driven by volatility in digital infrastructure markets, a difficult fundraising environment in retail channels, uncertainty around AI and technology spending, tighter credit markets, and geopolitical tensions.

READ: Data centers spark projected $1.4 trillion spending surge from power utilities.

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