Alpha Compute has signed a binding term sheet to acquire assets for a planned 200MW natural gas-powered data centre campus in northern Pennsylvania, US, with the potential to expand capacity to 1GW.
The term sheet allows Alpha Compute’s subsidiary, Alpha Compute Management an exclusive option to purchase mineral, surface, and pore-space assets at a base price of $55m.
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A deposit of $3m is expected following completion of a definitive property agreement and meeting or waiving specified conditions, which will be credited at closing.
The proposed acquisition covers unleased Marcellus Formation gas rights over approximately 1,800 acres, with a 100% net revenue interest if title is confirmed.
The deal excludes existing Utica and deeper formation leaseholds. The assets also include related surface properties, some of which lie outside the immediate data campus area and are not part of the current build.
No data centre capacity or power generation is presently available at the site. The 200MW figure is planned and subject to further diligence, permitting, financing and definitive agreements.
The company will work with development and financing partners to fund the project using special purpose vehicles and joint ventures, aiming to use non-dilutive capital.
Alpha Compute intends to source both electricity and fuel from the same property, using gas from the Marcellus Formation.
Third-party analysis indicates this could support continuous on-site generation for ten years at an estimated delivered cost of $0.0585 per kilowatt-hour, below prevailing commercial and industrial rates in the region.
The development plan includes drilling 12 wells from two new pads, supported by nearby interstate gas pipelines that could enable additional scale.
The area features a 115kV transmission line and substations, enabling possible grid interconnection if agreements are reached.
Environmental screening has identified some federal species of concern and three small wetlands, which will require further review during permitting.
Alpha Compute CEO Brittany Kaiser said: “This initiative unites domestic energy production and sovereign power generation with secure, confidential infrastructure on Pennsylvania soil.
“While our existing facilities utilise 100% hydroelectric resources, this expansion demonstrates our commitment to developing high-performance data campuses that prioritise community integration and maintain rigorous environmental standards across every project.”
The campus will be subject to local planning authority review, community engagement, and multiple environmental assessments.
The county’s Chief Assessor projects the site could add $2.08bn to the local tax base, though actual impacts would depend on final development outcomes.
