AIB Data Centers Completes $17.2 Million Texas Land Acquisition for Data Center Development with Up to 55 MW of Power Capacity

AIB Data Centers Inc. has completed the acquisition of approximately 29.385 acres of real property and related assets in Texas, securing a site designated for data center development with access to up to 55 MW of primary electric service across two adjoining parcels. The transaction, valued at approximately $17,225,400 in aggregate consideration, was structured as two interdependent agreements that closed concurrently, according to a filing with the U.S. Securities and Exchange Commission.

The acquisition underscores the intensifying race among data center operators to lock down shovel-ready land with secured power capacity in key markets. As demand for cloud computing, artificial intelligence workloads, and hyperscale infrastructure continues to surge across North America, access to utility-approved electric service has become one of the most critical bottlenecks in data center development. Sites with existing or committed power agreements command significant premiums and are increasingly scarce in markets such as Texas, which has emerged as a leading destination for large-scale data center investment due to its favorable regulatory environment and competitive energy costs.

The company entered into a Purchase and Sale Agreement dated September 4, 2026, with a local seller to acquire approximately 5.00 acres of real property, together with all improvements, easements, mineral, oil and gas rights, water rights, and related interests, for a purchase price of $8,250,000 payable in cash at closing. That parcel, referred to as Property A, is currently served by an existing Facilities Extension Agreement with a local utility provider, providing 15 MW of primary electric service.

Concurrently, AIB Data Centers entered into a Membership Interest Purchase Agreement with a second local seller to acquire 100% of the interests in a Delaware limited liability company that holds the right to acquire fee simple title to approximately 24.385 acres of adjacent real property in Texas, referred to as Property B. The purchase price under the MIPA is $8,975,400, of which $2,975,400 is payable at closing and $6,000,000 is structured as a deferred payment payable to the seller on the date the utility company places the Property B facilities in service. The deferred payment is secured by an irrevocable standby letter of credit issued by JPMorgan Chase Bank, N.A. in the amount of $6,000,000 for the benefit of the seller. If the release date has not occurred on or prior to December 31, 2028, the company may substitute a parent guaranty for the letter of credit, subject to certain creditworthiness requirements.

Property B is supported by a Facilities Extension Agreement with the utility company providing for 40 MW of primary electric service. Performance security under that agreement is supported by a separate irrevocable standby letter of credit issued by JPMorgan Chase Bank, N.A. in the amount of $1,754,640 for the benefit of the utility company.

The completion of the acquisition was confirmed on September 11, 2026, pursuant to the two interdependent agreements. The transaction structure, which links the closing of both parcels concurrently, reflects the company's strategy of assembling contiguous land with combined power capacity sufficient to support a substantial data center campus. With 15 MW already available at Property A and up to 40 MW to be delivered at Property B upon the facilities being placed in service, the combined site offers a total of up to 55 MW of primary electric service.

The deal highlights the growing trend of data center developers securing power infrastructure alongside land acquisitions, as utilities face mounting pressure to keep pace with interconnection requests from hyperscale and colocation operators. Texas has become a focal point for such activity, with its deregulated energy market and abundant natural gas and renewable resources attracting billions of dollars in data center investment in recent years.