Alpha Compute Signs Binding Term Sheet for 200 MW Gas-Powered Data Center Campus, Eyes 1 GW Expansion
ALP sits 24% above its 52-week low of $0.176.
Summary
Alpha Compute has signed a binding term sheet to acquire mineral, surface, and pore-space assets in Pennsylvania for a planned 200 MW natural gas-powered data center campus, with potential expansion to 1 GW. The base purchase price is $55 million, with a $3 million deposit due after definitive agreements. The project targets an all-in power cost of approximately $0.0585/kWh, well below prevailing PJM rates of $0.08–$0.10/kWh, using on-site Marcellus gas. This marks a significant pivot into owned energy infrastructure for AI compute, following the company's recent pivot to AI infrastructure and GPU-as-a-service. The non-dilutive financing structure via SPVs and joint ventures is notable given the company's going concern warning and recent financial restatements. The project is greenfield with no current operations, and execution hinges on permits, financing, and definitive agreements.
At the time of this announcement, ALP was trading at $0.22 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.1M. The 52-week trading range was $0.18 to $13.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.