AIB Data Centers has signed a 12-year colocation agreement to supply 50 megawatts of critical IT load to Nebius, the Amsterdam-based AI cloud platform whose client roster includes Meta and Microsoft. The contract, covering AIB's CLT-01 campus in South Carolina, anchors the company's pivot from Bitcoin mining to AI infrastructure, with revenue expected to begin in the second half of 2027.

The agreement draws on 65 MW of utility power secured through an existing 15-year electric service agreement at the site. Annual lease payments carry escalators of 3% or are tied to the Consumer Price Index, whichever applies.

AIB Data Centers operated as BlockchAIn Digital Infrastructure until June 2026, running Bitcoin mining operations that have since been decommissioned. The company raised approximately $63 million through an equity offering to fund the transformation.

Power-first pipeline

The CLT-01 campus forms part of a broader development program. AIB has roughly 140 MW under development at the South Carolina site and a total pipeline of approximately 570 MW across multiple locations. The company markets itself on a "power-first" development model, securing large-scale electricity agreements before construction begins — an approach that addresses the binding constraint in data center development: grid access.

Nebius scaling toward 4 GW

Nebius, AIB's new tenant, is targeting more than 4 gigawatts of contracted power by the end of 2026, a figure that would rank it among the largest data center capacity consumers globally. The company already holds over 3.5 GW under contract, anchored by major deals with Meta and Microsoft.

The economics for AIB are substantial. 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 in the range of $90 million to $100 million once the facility is fully operational.

From hash rate volatility to contracted cash flows

The transaction marks a structural shift in AIB's revenue model. Bitcoin mining income fluctuates with BTC prices and network difficulty, leaving operators exposed to cycles they cannot control. A 12-year lease with 3% annual escalators offers contracted, predictable cash flows. That visibility lets investors and lenders model returns with confidence, lowering the cost of capital for further development across the 570 MW pipeline.

Challenges remain. The second-half 2027 revenue start means AIB must still execute a construction and commissioning timeline of roughly two years before the first lease payment arrives. But the two hardest variables in data center development — securing electricity and securing a tenant — are resolved. The 65 MW utility arrangement and the Nebius contract remove the uncertainties that most often delay or derail campus buildouts.

The second half of 2027 now serves as AIB's proving ground: delivering CLT-01 on schedule will determine whether the company can convert its remaining South Carolina capacity and broader pipeline into contracted AI infrastructure revenue.