AIB Data Centers has locked in a 12-year contract to deliver 50 megawatts of critical IT load to Nebius, the Amsterdam-based AI cloud platform that counts Meta and Microsoft among its clients. The deal positions a former crypto mining operation squarely at the center of the AI infrastructure boom. The arrangement covers AIB’s CLT-01 campus in South Carolina, backed by 65 MW of utility power through an existing 15-year electric service agreement. Revenue is expected to start flowing in the second half of 2027, with annual escalators of 3% or tied to the Consumer Price Index, whichever applies.
From Bitcoin blocks to AI racks
AIB Data Centers didn’t always go by that name. Until June 2026, the company operated as BlockchAIn Digital Infrastructure, running Bitcoin mining operations. Those mining rigs have since been decommissioned, and the company raised approximately $63 million through an equity offering to fund its transformation. The CLT-01 campus is part of a larger pipeline. AIB has roughly 140 MW under development at the South Carolina site, with a total pipeline of approximately 570 MW spread across multiple locations. The company’s pitch to the market is what it calls a “power-first” development model, meaning it secures reliable, large-scale electricity agreements before breaking ground on facilities.
Nebius and the race to 4 gigawatts
Nebius, AIB’s new tenant, has been on an aggressive expansion tear. The AI cloud company is targeting over 4 gigawatts of contracted power by the end of 2026, a figure that would place it among the largest consumers of data center capacity on the planet.
The company already has over 3.5 GW under contract, with major deals involving Meta and Microsoft anchoring its portfolio. The economics for AIB look meaningful. Industry estimates for lease revenue in this segment run approximately $1.8 million to $2.0 million per megawatt of critical IT load annually. At 50 MW, that implies annual contract revenue somewhere in the range of $90 million to $100 million once the facility is fully operational. The broader infrastructure land grab
Bitcoin mining revenue fluctuates with the price of BTC and network difficulty. A colocation lease with 3% annual escalators and a 12-year term offers something mining never could: visibility. Investors and lenders can model the cash flows with confidence, making it easier to raise capital for further development.
The 2027 revenue start date means AIB still has a construction and commissioning timeline to execute. But with power already secured and a tenant already signed, the hardest parts of the equation, finding electricity and finding a customer, are solved. Disclosure: This article was edited by Diego Almada Lopez.
More Read
For more information on how we create and review content, see our Editorial Policy.
