AVAX One has signed a non-binding letter of intent (LOI) to acquire the Bantry Data Site, a powered data center site in Alberta, Canada, that the company is targeting for AI and high-performance computing (HPC) development. The deal, if completed, would add what AVAX One describes as an energy-advantaged, behind-the-meter location intended to support modular data center deployments.

Under the LOI, AVAX One would purchase the Bantry site for $2.3 million, with a targeted closing date of August 1, 2026. The transaction is subject to due diligence and the negotiation and execution of a definitive purchase and sale agreement.

AVAX One has placed a fully refundable $100,000 deposit with Newbit’s legal counsel. The company is in a 30-day due diligence period during which it has exclusive access to the site and related information, including access to a virtual data room, on-site inspection access, and the opportunity to engage with the site’s gas supplier.

Behind-the-meter sites are attractive for AI/HPC build-outs because the power path, interconnection, and utility queue timing are often the gating constraints—not the white space build itself. But an LOI is only a first step: engineering and commercial outcomes still hinge on what the due diligence turns up and whether a definitive agreement is executed on workable terms.

“The Bantry Data Site represents exactly the kind of asset we are targeting—an energy-advantaged, behind-the-meter site that can be developed into productive AI and HPC compute capacity on an accelerated timeline,” said Jolie Kahn, CEO of AVAX One. Kahn added that the company expects to complete due diligence and move toward a definitive agreement “in the coming weeks.”

AVAX One describes itself as a digital infrastructure company building “power-first, modular data centers” in energy-advantaged regions, using behind-the-meter generation and microgrid design. The company also says it continues to mine Bitcoin in Alberta and Ohio at approximately 300 PH/s.

Source: AVAX One