🇺🇸Alpha Compute (Nasdaq: ALP) entered a binding $55 million acquisition-option term sheet; its planned 200-megawatt campus remains conditional.

Alpha Compute disclosed a binding term sheet giving subsidiary Alpha Compute Management an exclusive option to acquire mineral, surface and pore-space assets in northern Pennsylvania for a base purchase price of $55 million. A $3 million deposit would become payable only after execution of a definitive property-purchase agreement and satisfaction or waiver of specified conditions; it would be credited against the cash due at closing.

The proposed assets include approximately 1,800 oil-and-gas mineral acres of unleased Marcellus gas rights, with a stated 100% net revenue interest subject to title confirmation. Existing leasehold rights in the Utica and deeper formations are excluded, and additional surface and pore-space property held for future development is not part of the planned campus.

Alpha Compute would act as the offtaker under a binding but conditional intra-group commitment for the planned initial 200 megawatts of power and data-center capacity. The greenfield project targets behind-the-meter generation using on-site Marcellus gas and an approximate all-in power cost of $0.0585 per kilowatt-hour, while possible expansion to 1 gigawatt is only a stated plan.

The option and specified obligations are binding, but the acquisition, offtake and construction remain subject to due diligence, definitive agreements, title and survey review, financing, permits and governmental approvals. The filing explicitly states that no power or data-center capacity currently exists and gives no assurance that the transaction will close, the campus will be built or commercial operation will begin.