Data Center View - November 12, 2025 - TeraWulf eyes data center in New York

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NEWS ROUNDUP

DEVELOPMENT: TeraWulf eyes data center in New York. TeraWulf plans to convert a retired coal plant of Cayuga Lake into a 400MW data center under an 80-year lease. Residents worry about higher electricity costs, noise and water use, prompting the town board to consider a year-long development moratorium.

ENERGY: MIT forms data center energy forum. The MIT Energy Initiative has launched the Data Center Power Forum, uniting MIT researchers and industry experts to address the surging energy needs of data centers driven by AI growth. Led by William Green, MITEI’s director, and program manager Deep Deka, the forum will support research on power efficiency, grid management, and renewable integration.

FINANCING: Banks provide $18B loan for Oracle linked data center. A consortium of 20 banks is financing an $18 billion data center project in New Mexico tied to Oracle, part of the $500 billion Stargate AI infrastructure. Lead banks include Goldman Sachs, Sumitomo Mitsui, BNP Paribas, and Mitsubishi UFJ, with the loan carrying a four-year term plus two one-year extensions. Oracle is expected to be a tenant at the site, which aims to meet rising AI computing demand.

MARKET: Applied Digital boosts AI data center expansion. Applied Digital is rapidly expanding its AI data center pipeline, driven by major hyperscale contracts, long-term leases, and substantial external financing. Key developments include a 15-year, $5B lease at Polaris Forge 2 and a 150MW lease with CoreWeave, bringing total contracted revenue to ~$11B.

READ: Nuclear powers next gen data centers.

DATA CENTER PROPERTY FOR SALE

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120 Acres | Industrial Land | Zoning I-1 - Light Industrial Zoning

565 Acres | Industrial Zoning

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