Alpha Compute has signed a first amendment to the binding term sheet and exclusive option for a planned natural gas-powered data centre campus in northern Pennsylvania, US, securing $47m in seller financing for the project’s property acquisition.
The planned facility is intended to provide up to 200MW of power for AI applications, with scope for future expansion to 1GW.
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The overall base purchase price for the site is set at $55m. Of this, $8m will be payable by Alpha Compute at closing, while the sellers will finance the remaining $47m through a note issued by the acquiring entity.
This acquisition covers around 350 acres across Tioga and Beaver counties, as well as around 1,800 net unleased Marcellus mineral acres, subject to confirmation of title.
The seller note bears fixed interest at 6% annually, payable in arrears, with no scheduled amortisation and is due five years from closing as a balloon payment.
The note is secured solely by the properties and associated mineral rights, not by the data centre, power, or computing assets.
Alpha Compute and its affiliates do not provide any personal guarantee, with only limited recourse in circumstances such as fraud or post-closing environmental violations.
The seller note may be prepaid at any time without penalty and does not incur origination or exit fees.
No power or data centre infrastructure is currently operational at the designated site.
The proposed campus would source energy from the on-site Marcellus resource, with third-party evaluation suggesting the gas could support the planned output for a decade at a quoted delivered cost of $0.0585 per kilowatt-hour.
These estimates are subject to further validation.
Alpha Compute executive chairman and president Enzo Villani said: “Seller financing on these terms is exactly the outcome we set out to achieve.
“We reduce cash at closing to $8m, we take on no guarantee, and we keep our data centre, power and compute assets entirely outside the collateral package.
“That preserves capital for the assets that generate revenue, and it aligns the sellers with the long-term success of what gets built on their land.”
The project remains subject to county planning reviews, community impact assessments, permitting, and regulatory approvals. The company first announced its intention to pursue the Pennsylvania project in August 2026.
Completion is dependent on due diligence, execution of definitive agreements, and satisfaction of various regulatory conditions. There is no certainty the transaction will close or that the data centre will be built as currently proposed.
