AVAX One Technology has signed a non-binding letter of intent (LOI) for acquiring the Bantry Data Site in Alberta, Canada.
The site is described as an energy-advantaged data centre location, and the move would be the company’s first step in a projected expansion of power-first operations across Western Canada.
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Under the terms outlined in the letter of intent, the proposed acquisition will involve a purchase price of $2.3m. AVAX One has placed a refundable deposit of $100,000 with Newbit’s legal counsel, enabling access to a 30-day due diligence period.
During this time, AVAX One has exclusive access to both the site and relevant information, including a virtual data room, on-site inspection opportunities, and engagement with the site’s gas supplier.
The acquisition builds upon AVAX One’s current operations in Alberta and aligns with its broader strategy for AI and HPC infrastructure development.
AVAX One aims to finalise the transaction by 1 August 2026.
AVAX One CEO Jolie Kahn said: “The Bantry Data Site represents exactly the kind of asset we are targeting—an energy-advantaged, behind-the-metre site that can be developed into productive AI and HPC compute capacity on an accelerated timeline.
“As we advance our data centre initiatives in Western Canada, acquisitions like this enable us to build a robust portfolio of powered sites that support our infrastructure strategy without relying on traditional utility timelines.
“We look forward to completing due diligence and moving toward a definitive agreement in the coming weeks.”
AVAX One operates modular data centres in regions with energy advantages and continues to mine Bitcoin in both Alberta and Ohio, reaching a hashrate of around 300 PH/s.
