Power Management Firm Lancium Signs $2.4B Data Center Development Deal
The construction of the data center, which will focus on bitcoin mining and other energy-intensive applications, will start in the first quarter of 2022.
Dec 21, 2021 at 11:00 p.m. UTCUpdated May 11, 2023 at 4:08 p.m. UTC
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Lancium, the Houston-based data center power management firm, signed a $2.4 billion development partnership with Taylor County in Texas and the city of Abilene to build a large-scale, renewable energy-powered data center.
- Lancium will build the facility, which will focus on bitcoin mining and other energy-intensive applications, in the north central Texas city, starting in the first quarter of 2022, according to a press release.
- “We chose Abilene for our second Clean Campus because of its ideal location, proximity to abundant wind and solar generation, high-quality workforce and the opportunities to grow in the future,” Lancium CEO Michael McNamara said.
- The data center campus will start at 200 megawatts, with an expansion capacity to over 1 gigawatt.
- Lancium said the company and its customers are planning to spread the investment over 20 years to build a “Clean Campus” on approximately 800 acres, creating 57 full-time jobs.
- “This project is estimated to bring $993.4 million in total projected economic impact to Taylor County and the City of Abilene,” said Misty Mayo, president and CEO of Development Corporation of Abilene.
- On Nov. 24, Lancium raised $150 million in financing and noted that its data centers will host bitcoin mining, high throughput computing, as well as other energy intensive applications, while providing power management services.
- On Sept. 15, Lancium said it started building a 325-megawatt data center in Fort Stockton, Texas, for bitcoin mining, which will be fully functional by the fourth quarter of next year.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets