Key takeaways
- Power is the bottleneck for AI data centers. New large loads in the Americas wait about five years for it. Miners already have it.
- Hut 8, TeraWulf and CleanSpark signed AI leases worth $6.6 billion to $19 billion each in 2026.
- You have three options: sell the site, partner with an operator, or lease to a tenant yourself.
- Operators pay the most for a site when a tenant is ready to sign. We have tenants waiting.
Why AI tenants want mining sites
AI demand is limited by electricity, not buildings. New large loads in the Americas now wait an average of 5.0 years for power (Cushman & Wakefield, May 2026). A tenant who needs 100 MW in 2027 cannot wait that long.
A mining site skips most of that line. What you already have:
- Energized power. Megawatts on today, not a study or a queue position.
- Substations and interconnection. The equipment and agreements that take years to get.
- Land and permits. A site zoned and approved for a large electrical load.
- A team that runs dense power. You already operate high-density electrical loads around the clock.
That is why powered land is the scarcest input in the industry. An energized site sits at the top of that scale.
Miners are already signing AI leases
Three public miners announced long-term AI leases in 2026:
| Miner and tenant | Capacity | Terms disclosed | Source |
|---|---|---|---|
| Hut 8 and an investment-grade tenant, Nueces County, Texas | 352 MW IT in May, a second 352 MW in July | 15-year triple net, $9.8 billion base term for the first phase | Hut 8, May 2026 |
| TeraWulf and Anthropic, Hawesville, Kentucky | About 401 MW critical IT | 20 years, about $19 billion | TeraWulf, July 2026 |
| CleanSpark and Meta, Sandersville, Georgia | 175 MW critical IT | 20-year triple net, about $6.6 billion contracted | CleanSpark, September 2026 |
These are large public companies with their own teams. Most miners do not have a hyperscaler's phone number. That is where we come in.
Your three options
| Option | What happens | Your capital | Your upside |
|---|---|---|---|
| Sell outright | An operator buys the site and power | None | Cash now. No ongoing share |
| Partner with an operator | A joint venture. You bring the site and power. The operator brings capital and data center expertise | Low to medium | A share of a long-term lease |
| Lease to a tenant yourself | You convert the site and become the landlord | High | The full lease, and the full build risk |
Many miners keep part of a site mining and convert the rest. The right mix depends on your power, your balance sheet and how fast a tenant needs the space.
What we bring
1. Tenants ready to sign
We represent AI and enterprise tenants who need wholesale capacity of 1 MW and up. We have tenants waiting for sites that meet their location, power and delivery dates. Your site goes in front of real requirements, not a mailing list.
We already work at that scale. We have 1.7 GW of off-market powered sites in Oklahoma, Alabama and Utah, coming online between now and early 2028.
2. Operator relationships built over 24 years
Since 2002 we have worked with data center operators through Bridgepointe's advisory practice, which has completed 1,200+ data center and cloud projects. We know the executives who buy sites and form partnerships. Many of them want to buy mining sites outright or partner on them.
3. A tenant at the table gets you the best price
An operator buying a site takes on risk until a tenant signs. A site with a tenant ready to sign removes most of that risk. The operator can finance it and start building sooner. That is why operators pay more for it.
We bring both sides together. The tenant gets power on time. The operator gets a leased project. You get the strongest offer for your site.
What a tenant will check on a mining site
A mining site is not a data center yet. Tenants and their engineers will ask about these gaps early. Knowing the answers before the first meeting protects your price.
- Redundancy. Mining can stop when power stops. AI tenants expect backup generation and redundant electrical paths.
- Curtailment. Demand-response and curtailment programs that pay miners to shut off clash with a tenant's uptime needs. Know how to exit them.
- Firm power. Tenants want firm service, not interruptible. Check how your service agreement is written.
- Cooling and density. AI racks need liquid cooling at far higher density than most mining halls.
- Fiber. Mining needs little bandwidth. AI needs diverse fiber routes. Check carriers at your site.
- Utility MW vs. IT MW. Tenants pay for IT load after cooling and building systems. Hut 8's campus needs about 500 MW of utility power for 352 MW of IT. See how the math works.
- Grid rules. In Texas, ERCOT paused energization approvals for new data center and crypto-mining loads of 75 MW or more pending verification (ERCOT presentation to the PUCT, August 2026). Confirm whether a change of use triggers new approvals. See rules by state.
How it works
- A first call. We learn your sites, power and goals. No cost and no obligation.
- A tenant's-eye review. We read your power documents and site details the way a tenant's engineers will.
- The match. We put the site in front of tenants and operators that fit. Nothing is shared until you agree.
- The deal. We help you weigh sale, partnership or lease offers side by side.
Before any engagement, we agree in writing who we work for and how we are paid. See how we differ from a real estate broker.
Put your mining site in front of tenants and operators
Share your site's location, power status and what you are open to. A senior advisor replies within one business day.
Frequently asked questions
Can a bitcoin mining site become an AI data center?
Often, yes. The power, substation and land are the hardest parts, and a mining site has them. Most sites still need backup power, liquid cooling, fiber and firm utility service before an AI tenant will sign.
Do I have to stop mining?
Not across the whole site. Many miners convert one part and keep mining on the rest. The tenant's space needs firm power that is not curtailed.
Should I sell, partner or lease?
It depends on your capital and how much risk you want. Selling pays now. A partnership shares the build cost and the lease. Leasing yourself keeps the most upside and the most risk. We help you compare real offers.
Why does a ready tenant raise the price?
An operator's biggest risk is building without a tenant. A signed or ready tenant lets the operator finance and build sooner, so it can pay more for the site.
How big does my site need to be?
We work on requirements of 1 MW and up. Larger, energized sites draw the most interest, but smaller sites can suit enterprise and inference tenants.
Do you buy mining sites?
No. We connect sites with tenants and operators who fit them. A conversation with us is not an appraisal or legal advice.
Sources
- Cushman & Wakefield, 2026 Global Data Center Market Comparison, May 2026.
- Hut 8, Beacon Point lease announcement, May 6, 2026.
- TeraWulf, Anthropic lease at Justified Data Campus, July 2026.
- CleanSpark, SEC exhibit 99.1, September 2026.
- ERCOT, Batch Zero verification and audit, presentation to the PUCT, August 20, 2026.
Naming a company is not a claim that it works with us. Nothing on this page is an appraisal or legal advice.