Pre-construction lease

Lease a hall. Power is on the parcel.

Eight equal 40,000 SF bays. 51.5 MW IT each, behind the meter from nine LM2500+G4 machines. A full bay opens at $92.7 M a year on the anchor tier — a powered rate, with the power inside it. Target COD 2027.

Size my power needs Customize the kit

$92.7 M

per 51.5 MW bay / year · anchor tier

~$1.1 B

per 51.5 MW bay · 10-year value

$741.6 M

all 412 MW · campus / year

$1.8M

/ MW / yr · unit rate

Pre-construction pricing

Three windows. Each closes on a real milestone.

Sign earlier, pay less — the discount is what the commitment is worth to construction financing. Every rate is powered and all-in.

Tier	Window	$ / MW / yr	Full 51.5 MW bay / yr
AnchorOpen now	Pre-financing · first 2 halls	$1.8M	$92.7 M
Pre-entitlement	Before full entitlement · target January 2027	$1.98M	$102.0 M
Pre-COD	Construction through first delivery	$2.16M	$111.2 M
Post-COD	After DC-01 energizes	Market	Market

Powered, all-in, take-or-pay. The term sheet sets the actual rate inside the $1.8M–$2.4M band.

What the powered rate includes

One number. Here is what is inside it.

In the wrap

Allocated MW from the 9 × LM2500+G4 combined-cycle block
Warm shell: floor, busway, CDU rooms, liquid to the flange
Closed-loop dry cooling — zero process water
Campus security, gate, and shared yard
Option to interconnect surplus; not required to turn the hall on
No fuel pass-through — the campus holds the gas

You bring

Racks, accelerators, and manifolds past the CDU flange
Fit-out, cages, and in-hall network past the campus spine
Bring-your-own kit is first-class — empty-shell interiors on Configure
Operating labor inside the hall

Baseline economics

Two ways to take a bay. Both include the power.

Both figures are for one full 51.5 MW bay on the anchor tier — a shell is a 10-year term, turnkey is 6. Buying power from the campus is part of both deals: it is not a separate bill and not optional.

You bring the chips

Powered shell

$92.7 M/ year

for one 51.5 MW bay

$1.1 B over 10 years

Your racks, your capital. We deliver a liquid-ready bay and the megawatts behind the meter, to the CDU flange. Power comes from the campus and is part of the deal.

Size it

We deliver it running

Turnkey

$230.7 M – $813.8 M/ year

for one 51.5 MW bay

$1.5 B – $5.3 B over 6 years

The bay, the power, and the silicon in it, operated by us — from Tenstorrent Galaxy at the low end to NVIDIA Rubin at the high. $522.1 M–$2.7 B of hardware, financed against your contract by a lender or the OEM — not by Liberty. Pick your chips on Configure to price it exactly.

Price your kit

Why the windows close

Every window shuts on an actual project milestone.

An anchor pre-lease is what closes construction financing on this campus. That is worth real money to us, so it is priced into the wrap rather than held back as a negotiating chip — and the negotiable terms below it are negotiated on the term sheet, not posted.

Indicative powered rates on a 10-year take-or-pay. Power is inside every figure here and is not optional — about $48.7 M of a full bay’s annual rate is 487,231 MWh at $100/MWh, generated on the parcel. Published band is $1.8M–$2.4M / MW / yr. Not a posted tariff and not an offer — the term sheet sets the rate.

Also on the table pre-construction

Structure, not just rate.

These matter more than a dollar off the wrap for most operators, and they are negotiated on the term sheet rather than posted here.

Ramp schedule: Pay for megawatts as you energize them instead of the full allocation on day one.; Your fit-out ramps over quarters. Billing that tracks the ramp costs us far less than it saves you.
Expansion right of first refusal: The adjacent bay is held against your growth before it goes to anyone else.; Bays are equal and adjacent by design. Reserving the neighbour costs the campus nothing today.
Escalator relief: 2.5% annual in place of the standard 3.0%, with a CPI collar available.; Half a point compounds hard over fifteen years. Early signers get the benefit of that math.
Abatement at COD: Rent relief across your commissioning and burn-in window at first energization.; The hall is ramping anyway. You should not pay full freight while you are still proving the floor.

"Who carries the fuel risk?"

We do — and here is how.

Gas supply is secured — 20" pipeline-quality gas on the property, not a delivered commodity with a basis problem attached to it.
Supply and firm transport are being contracted to the lease term and hedged, so the wrap does not sit on a spot market. Counterparties are named at NDA.
If you would rather carry the fuel exposure yourself, a lower base rate with an indexed pass-through and a collar is available instead.

Ask for the structure

Start here

How much power do you need?

51.5MW IT

or type it

1 of 8 bays · 51.5 MW allocated · 10% of nameplate

One bay: 40,000 SF each
$92.7 M: per year · 51.5 MW
~$1.1 B: 10-year contract value
2027: earliest energize

Your tier today

Anchor — a powered lease. Power is inside the rate and is not optional: $48.7 M of this year’s $92.7 M is 487,231 MWh at $100 / MWh, behind the meter.

That is $18.5 M a year below the standing $2.16M / MW / yr pre-COD wrap for the same load.

Planning figures for a take-or-pay on the allocation shown, power included, before escalator. Not a posted tariff and not an offer — the term sheet sets the rate inside the band.

Express interest

Tick what you need. Two fields to type.

No NDA to look, no obligation, no sales sequence. This goes straight to David Connolly. Nothing below is required except your name and email — if you would rather just say how much power you need and talk it through, that is enough.

I'm interested in

I want to

Power neededWhen you need itWho you are

Workload

Name *Work email *CompanyPhone (optional — a call is often faster)

Anything else (optional)

Goes to david@acquisllc.com · no obligation

The number that matters

Delivered cost for 51.5 MW, both ways.

Colocation is quoted as a base rate plus metered energy — the industry calls it base + E. The Liberty wrap already has the power inside it, so the only fair comparison is what actually leaves your account each year.

Grid-served, primary market

Base rent$1.5M/MW/yr$77.3 M

Metered energy$100/MWh$48.7 M

All-in / year$126.0 M

≈ $2.45M / MW / yr

Liberty Power Park, all-in

Anchor wrap$1.8M/MW/yr$92.7 M

Energyon the parcelincluded

All-in / year$92.7 M

≈ $1.8M / MW / yr

You keep $33.3 M a year at the anchor tier — 26% — or $14.7 M (12%) at the standing pre-COD wrap.

Illustration, not a quote. Grid-served figures use published 2026 asking rates — $1.2M–$1.8M/MW/yr base for hyperscale capacity in primary US markets (CBRE, build.inc) — taken at the midpoint, plus energy at the same $100/MWh we charge, so the comparison turns on the shell rather than on a flattering energy number. That assumption is deliberately conservative: wholesale power in PJM averaged $136.53/MWh in Q1 2026 and the 2026/27 capacity price cleared at $329.17/MW-day. Modelled at PUE 1.2 and a 90% load factor, or 487,231 MWh a year. Your own supply contract and site may beat these numbers — bring yours and we will run it against the wrap.

Economics we are aiming for

One powered rate. Power is in the number.

Planning figures for a take-or-pay on a full 51.5 MW bay. Every rate here is a POWERED rate — power is inside the number, not added to it. Not a posted tariff; the term sheet sets the actual rate inside the band.

Line	Per hall	Notes
What you get
IT allocation	51.5 MW	Even split of 412 MW nameplate
White space	40,000 SF	200 × 200 ft, liquid-ready
Density adder	Included through 1 MW/rack	400 kW–1 MW Kyber / 800 VDC is the planning floor
COD target	2027	First hall DC-01
What it costs
Power · mandatory	$48.7 M / yr	487,231 MWh at $100/MWh, behind the meter. Inside the rate, never on top of it
Shell	$62.5 M / yr	Space, cooling, infrastructure — the rest of the rate
All-in, standing pre-COD	$111.2 M / yr	$2.16M / MW / yr · band $1.8M – $2.4M · anchor prices below it
10-year value	~$1.3 B	Escalator compounded at 3%
Two-hall suite	4% off the rate	Adjacent bays only
Fuel pass-through	None	Campus holds the gas; you never see a kWh bill
Terms
Term	10, 15 or 20 years	10-year is the default
Escalator	3% / year	CPI collar optional on the term sheet
Take-or-pay	90% of contracted MW	You pay for the allocation you lock
Security	12-month LC	~$111.2 M standby

Compare to a queued colo: space plus a separate power bill at 51.5 MW continuous is often north of this wrap. Here the machines sit on the same parcel. Surplus sales into PJM are campus, not tenant.

Pick a bay