Empery Digital Partners With Hunt Properties and Crow Holdings to Buy Midwest Facility for Data Center Conversion

Hunt Properties and the Crow Holdings family have partnered with Nasdaq-listed bitcoin miner Empery Digital to invest in hyperscale data center operations, including the acquisition and conversion of an industrial facility in the U.S. Midwest. According to Foresight News, the three parties agreed to buy the site for $230 million. The facility has 150 megawatts of power capacity and is expected to be converted into a data center, with potential future capacity rising to about 300 megawatts. The partners have also signed a non-binding letter of intent with an unnamed cloud computing company for a lease that could total up to $1 billion. Separately, Empery Digital agreed to pay $65 million for a 25% stake in a private entity managed by a Hunt Properties affiliate, in which Crow holds a minority stake. The partnership combines the Hunt family’s experience with power resources, the Crow family’s real estate expertise, and Empery Digital’s access to public-market financing. The parties plan to use the deal as a starting point for a series of data center acquisitions. The Hunt family is known for oil wealth and ownership of the NFL’s Kansas City Chiefs, while the Crow family is described as one of the largest real estate families in the United States.