Alpha Compute Signs Binding Term Sheet for Planned 200 MW Natural Gas-Powered Data Center Campus in Pennsylvania, with Potential Expansion to 1 GW

Rhea-AI Summary

Alpha Compute (Nasdaq: ALP) signed 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, supported by a $3 million deposit credited at closing. The greenfield site underpins a planned 200 MW natural gas-powered, behind-the-meter data center campus, with potential expansion to 1 GW, where Alpha Compute would be the offtaker under a binding but conditional intra-group commitment.

The assets include unleased Marcellus gas rights over about 1,800 mineral acres with 100% net revenue interest (subject to title), plus surface and pore-space properties. Third-party evaluation indicated gas from the Marcellus could support 200 MW of continuous generation for ten years at an estimated all-in delivered power cost of roughly $0.0585/kWh, below cited PJM commercial and industrial rates, though assumptions require validation. Development is expected to use non-dilutive capital via SPVs and JVs, and is subject to extensive local, environmental and regulatory approvals, financing, definitive documentation and other conditions, with no assurance of closing or construction.

Positive

• $55 million base purchase price for strategic PA energy and land assets
• Planned 200 MW data center campus with expansion option up to 1 GW
• Third-party estimated power cost about $0.0585/kWh, below cited PJM C&I rates
• Access to roughly 1,800 mineral acres with 100% net revenue interest (title pending)
• Development targeted with non-dilutive capital via SPVs and joint ventures
• County assessor estimates potential taxable assessed value increase of about $2.08 billion

Negative

• Project is greenfield; currently no existing power or data center capacity on site
• Transaction and 200 MW offtake remain conditional on due diligence, financing, and definitive agreements
• Completion depends on multiple regulatory and local approvals, adding execution risk
• Company states no assurance that the transaction will close or the data center be constructed
• Power cost and production figures are estimates subject to validation of underlying assumptions

Market Reaction – ALP

+2.64% $0.20 36.1x vol

15m delay

+2.64% Vs previous close

+37.7% Peak in 10 min

$0.20 Last Price

$0.19 $0.30 Day Range

$4.63M Market Cap

36.1x Rel. Volume

Following this news, ALP has gained 2.64%, reflecting a moderate positive market reaction. Argus tracked a peak move of +37.7% during the session. Our momentum scanner has triggered 65 alerts so far, indicating high trading interest and price volatility. The stock is currently trading at $0.20. Trading volume is exceptionally heavy at 36.1x the average, suggesting very strong buying interest.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

Recent history included a 9.37% gain after leadership news and a -4.23% move after filing-timing new...

Analysis

Recent history included a 9.37% gain after leadership news and a -4.23% move after filing-timing news, showing varied responses by catalyst. For this term sheet, confirmation of closing conditions and operating progress were key watchpoints.

Key Figures

Base purchase price: $55,000,000 Deposit: $3,000,000 Initial planned capacity: 200 MW +5 more

8 metrics

Base purchase price $55,000,000 Exclusive option under the binding term sheet

Deposit $3,000,000 Payable after definitive agreement and specified conditions

Initial planned capacity 200 MW Planned Pennsylvania data center campus

Potential expansion 1 GW Subject to diligence, permits, financing and definitive agreements

Mineral acreage Approximately 1,800 oil and gas mineral acres Unleased Marcellus gas rights

All-in power cost $0.0585/kWh Estimated cost for 200 MW of continuous generation

Generation duration Ten years Estimated continuous generation supplied by Marcellus gas

Potential taxable assessed value $2.08 billion County estimate for a data center project of this general scale

Historical Context

5 past events · Latest: Jul 31 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 31	share count correction	Neutral	-1.4%	Nasdaq market data was updated to reflect an accurate outstanding share count.
Jul 23	coalition launch	Neutral	-0.1%	Company launched an alliance advocating rights to build sovereign AI data centers.
Jul 17	leadership appointment	Positive	+9.4%	Enzo Villani became president while retaining executive chairman and CIO responsibilities.
Jul 15	filing timing update	Neutral	-4.2%	Company confirmed annual filing timing and updated the investor webinar schedule.
Jul 10	earnings call scheduling	Neutral	-0.6%	Company scheduled an earnings call to review fiscal-year results ending March 31.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Historical reactions diverged from neutral or positive announcements in four of five events, while the leadership appointment aligned with a positive move.

Key Terms

behind-the-meter generation, offtake, pore-space, closed-loop cooling, +1 more

5 terms

behind-the-meter generation technical

"Behind-the-meter generation fueled by on-site Marcellus gas targets"

Behind-the-meter generation is electricity produced on the customer side of the utility meter—for example, rooftop solar panels or a battery system that powers a building directly. It matters to investors because it reduces the amount of power customers buy from utilities, can lower operating costs for businesses, change revenue patterns for energy companies, and shift investment and regulatory risk; think of it like a household growing its own food instead of buying groceries.

offtake financial

"and the offtake of power and data center capacity from the resulting"

An offtake is a contract where a buyer commits in advance to purchase a company’s future output—such as raw materials, energy or finished goods—often at agreed volumes and prices. For investors, an offtake provides predictable revenue and lowers the risk that production will go unsold, similar to a long-term subscription or pre-order that helps a factory or mine secure funding and plan operations with greater confidence.

pore-space technical

"The assets also include surface and pore-space properties"

Pore-space is the volume of tiny holes and gaps inside rock, soil or other subsurface materials that can hold fluids such as oil, gas, water or injected CO2. Think of it like the empty space in a sponge: the amount and connectivity of those pores determine how much fluid the ground can store and how easily it flows. For investors, pore-space affects estimates of recoverable resources, storage capacity and the economics of energy, mining and subsurface storage projects.

closed-loop cooling technical

"with closed-loop cooling that recirculates water instead of withdrawing it"

Closed-loop cooling is a sealed cooling system that circulates the same fluid or coolant through equipment and heat exchangers without exposing it to ambient water or air, removing heat and returning the fluid for reuse. Like a household radiator that keeps reusing the same water, it limits water loss, contamination and the need for frequent treatment or replacement. Investors watch for closed-loop cooling because it can reduce operating costs, environmental compliance risk and downtime tied to water sourcing and disposal.

simple-cycle turbine generation technical

"drilling, gathering and simple-cycle turbine generation"

A simple-cycle turbine generation system uses a gas turbine to burn fuel and drive a generator directly, similar to a jet engine on a power plant, without capturing the hot exhaust for additional electricity. It matters to investors because these plants have lower upfront cost and fast start-up times but lower fuel efficiency and higher operating costs per megawatt-hour than combined-cycle plants, which affects revenue patterns, fuel sensitivity, emissions, and asset valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Behind-the-meter generation fueled by on-site Marcellus gas targets all-in power costs of approximately $0.0585/kWh for an initial 200 MW

ROADTOWN, Tortola, BVI, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Alpha Compute Corp. (Nasdaq: ALP) ("Alpha Compute" or the "Company"), a technology pioneer in AI Confidential Compute and GPU-as-a-service (GPUaaS), today announced that it has entered into a Binding Term Sheet covering the acquisition of mineral, surface and pore-space assets in northern Pennsylvania, and the offtake of power and data center capacity from the resulting planned data center campus (the "PA project”).

The Binding Term Sheet grants Alpha Compute Management, LLC, a subsidiary of Alpha Compute, an exclusive option to acquire the assets at a base purchase price of $55,000,000. A $3,000,000 deposit is payable following execution of a definitive Property Purchase Agreement and satisfaction or waiver of specified conditions and will be credited against the cash balance due at closing. Alpha Compute Corp. will serve as offtaker, with a binding but conditional intra-group commitment to take the planned initial 200 MW of power and data center capacity, with potential expansion to 1 GW, subject to diligence, permits, financing and definitive agreements.

The assets include unleased Marcellus gas rights for approximately 1,800 oil and gas mineral acres in the specified Included Formations, carrying a 100% net revenue interest subject to title confirmation. Existing leasehold rights in the Utica and deeper formations are excluded from the proposed acquisition. The assets also include surface and pore-space properties and surface and pore-space property in Northern Pennsylvania, which is held for future development and is not part of the campus. This is a greenfield project. No power or data center capacity is currently operating or available at the site, and the 200 MW represents planned capacity. 

Non-Dilutive Capital and Execution

Alpha Compute is working with its development and financing partners to acquire the property and develop it with non-dilutive capital through special purpose vehicles (SPV) and joint ventures with the leading energy and development organizations currently working in the area with significant investments and assets. 

An energy-first approach to compute

The contemplated design for the PA project is for the electricity and fuel to originate on the same asset. Third-party evaluation of the property concluded that gas produced from the underlying Marcellus Formation could supply 200 MW of continuous generation for ten years at an all-in delivered cost of approximately $0.0585 per kilowatt-hour, which is meaningfully below prevailing PJM commercial and industrial rates of roughly $0.08 to $0.10 per kilowatt-hour. That figure is all-inclusive, reflecting the capital and operating costs of drilling, gathering and simple-cycle turbine generation. These estimates remain subject to validation of the underlying assumptions. 

The development plan contemplates twelve Marcellus wells with average lateral lengths of approximately 13,000 feet, drilled from two new pads on the southeastern edge of the mineral block. The site also sits within reach of significant existing infrastructure. Multiple high-pressure interstate natural gas transmission lines run adjacent to the acreage, which could provide redundant fuel supply and a route to expand capacity beyond 1 GW over time, subject to commercial arrangements and interconnection rights. A 115 kV transmission line and nearby substations could offer optional grid interconnection, subject to applicable agreements and approvals. 

Site characteristics 

Surface diligence identified a high, flat plateau with roughly 80 contiguous acres suitable for initial development, on ground characterized by interbedded siltstones, sandstones and shales with no identified geohazards such as faults, karst or sinkholes. Environmental screening returned no threatened or endangered species findings in state databases, with federal species of concern flagged for further evaluation during permitting, and three small wetlands identified for avoidance or permitted relocation. 

Respecting the land and the community 

Alpha Compute’s first two GPU deployments in Canada and Sweden both run on 100% hydroelectric power. The PA project applies that same standard to a different resource base. If developed as planned, the campus would generate behind the meter from gas produced on the property and would place no new draw on the regional grid that families and farms depend on. The Company is evaluating CO2 sequestration in the deep formations beneath the site, which would require separate rights and approvals. The build is designed to meet the county's requirements with closed-loop cooling that recirculates water instead of withdrawing it, sound held to the 57 dBA community standard at neighboring property lines, full-cutoff lighting that protects rural night skies, low-reflective earth-tone buildings set behind berms and native plantings, riparian buffers along every stream, and a funded decommissioning plan in place from the first day of operations.  The result is compute infrastructure that works in harmony with the land, respecting local resources. Planned architectural buildings include barn-style exteriors intended to fit the surrounding agricultural landscape, preserving the character of the communities that host them. 

"This initiative unites domestic energy production and sovereign power generation with secure, confidential infrastructure on Pennsylvania soil," stated Brittany Kaiser, Chief Executive Officer of Alpha Compute. "While our existing facilities utilize 100% hydroelectric resources, this expansion demonstrates our commitment to developing high-performance data campuses that prioritize community integration and maintain rigorous environmental standards across every project."

"Establishing control over the computational layer necessitates ownership of the underlying infrastructure, which encompasses the very fuel source," stated Enzo Villani, Executive Chairman and President of Alpha Compute. "By leveraging on-site resource production and behind-the-meter generation at an anticipated all-in cost of $0.0585 per kilowatt-hour, we intend to transform energy from a primary operational expense into a strategic asset if the project is completed."

Subject to county review and approval

The project will be developed in accordance with local Data Center Ordinances.

Any development will require review by the County Planning Commission and approval by the Board of Commissioners, together with an environmental and community impact analysis, an environmental impact assessment, a water feasibility study, coordination with the County 911 Coordinator and Department of Emergency Services, and applicable permitting from the Pennsylvania Department of Environmental Protection and the Susquehanna River Basin Commission. Alpha Compute intends to engage with township officials, county staff and area residents throughout that process.

The County's Chief Assessor has publicly estimated that a data center project of this general scale could add approximately $2.08 billion to the county's taxable assessed value, an increase of roughly 54% over the current total, with an estimated combined annual tax impact of $33.4 million across the county, municipalities and school district. Actual assessment and tax outcomes would depend on final project configuration and are determined by county assessment procedures, not by the developer.

Conditions to closing

The Binding Term Sheet is binding as to the exclusive option and specified obligations, but the transaction and the offtake commitment remain conditional and subject to material buyer-controlled conditions and termination rights. Completion is subject to satisfactory due diligence, negotiation and execution of definitive agreements, title and survey review, financing, receipt of required governmental and regulatory approvals, and other conditions. No assurance can be given that the transaction will close, reach commercial operation or that any planned data center will be constructed.

About Alpha Compute Corp.

Alpha Compute Corp. (Nasdaq: ALP) is a vertically integrated AI infrastructure company specializing in GPU-as-a-service and AI Confidential Compute. Alpha Compute’s mission is to support clients, subsidiaries, and partners across critical sectors including: finance, defense, intelligence, and media with the essential framework for any organization requiring secure, confidential computing environments. For more information, please visit: https://www.alphacompute.ai/

Alpha Compute Corp is domiciled in the British Virgin Islands with offices in New York, Los Angeles, Miami, Amsterdam and Toronto. Alpha Compute is a founding partner of the Right2Compute Coalition; more information is available at www.right2compute.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact, including those preceded by, followed by, or incorporating words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "will," "potential," "continues," or similar expressions are forward-looking statements.

Forward-looking statements in this release include, without limitation: successful completion of the acquisition and the development and financing of the planned data center; title, acreage and net revenue interest; financing and partner arrangements; gas availability, projected power costs, well and generation plans; development, permitting, construction and commercial operation of the planned initial 200 MW; potential expansion to 1 GW; and potential economic, environmental and community impacts.

These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied, including: the timing and progress of the Company's strategic initiatives; reliance on third-party vendors and partners; the ability to secure additional financing; uncertainty around the Company's investments and legacy business; risks related to technology platforms and ecosystems; and general market and economic conditions. A more complete discussion of these risks is set forth under "Item 3 - Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended March 31, 2026.

Undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release, and the Company undertakes no obligation to update or revise them publicly, except as required by law.

Investor & Media Contact

Alpha Compute Corp.
ir@alphacompute.ai
www.alphacompute.ai

Patch McMahon
patch.mcmahon(at)icrinc.com

FAQ

What is Alpha Compute (ALP) planning with the 200 MW Pennsylvania data center project announced in August 2026?

Alpha Compute plans a greenfield 200 MW natural gas-powered data center campus in northern Pennsylvania, with potential expansion to 1 GW. According to Alpha Compute, the project would use behind-the-meter generation from on-site Marcellus gas and serve the company as offtaker, subject to conditions.

What are the key financial terms of Alpha Compute's binding term sheet for the Pennsylvania assets (ALP)?

The Binding Term Sheet sets a base purchase price of $55 million for the Pennsylvania mineral, surface and pore-space assets. According to Alpha Compute, a $3 million deposit will be payable after a definitive Property Purchase Agreement and specified conditions, and will be credited against closing cash.

How low are the projected power costs for Alpha Compute's planned Pennsylvania data center (ALP)?

Third-party evaluation estimated delivered power costs at about $0.0585 per kilowatt-hour for 200 MW of continuous generation. According to Alpha Compute, this all-in figure includes drilling, gathering and simple-cycle generation costs, and is below cited PJM commercial and industrial rates, but remains subject to validation.

Is Alpha Compute (ALP) using non-dilutive capital for the Pennsylvania 200 MW data center project?

Alpha Compute is working with development and financing partners to pursue non-dilutive capital for the Pennsylvania project. According to Alpha Compute, the plan is to use special purpose vehicles and joint ventures with established energy and development organizations active in the area.

What community and environmental measures are planned for Alpha Compute’s Pennsylvania data center campus (ALP)?

Alpha Compute plans closed-loop cooling, sound limited to 57 dBA at neighboring property lines, and full-cutoff lighting. According to Alpha Compute, designs include earth-tone buildings behind berms, riparian buffers, wetlands avoidance or permitted relocation, and a funded decommissioning plan from the start of operations.

What approvals and conditions must Alpha Compute (ALP) meet before the Pennsylvania data center can proceed?

The project requires county planning review, Board of Commissioners approval, environmental and community impact studies, water feasibility and multiple permits. According to Alpha Compute, closing also depends on satisfactory due diligence, financing, definitive agreements, title and survey review, and regulatory approvals, with no assurance of completion.

How could the Alpha Compute Pennsylvania data center project impact local tax revenues?

The County's Chief Assessor estimated a similar-scale data center could add about $2.08 billion to taxable assessed value. According to Alpha Compute, this would imply roughly $33.4 million in combined annual taxes, though actual outcomes depend on final configuration and county assessment procedures.