American Power Fund I · Pipeline
Powered sites
Every site that has come across the desk, with the cost per megawatt already worked out, the address ready to copy, and what each one is missing for compute.
Live sites
5
Contracted MW
74.8
Total asks
$35.59M
Blended per MW
$549K
Leaflet © OpenStreetMap contributors
Green available, brass under LOI, grey gone (not counted in the totals). Click a pin or a line to jump to the site. Approx. pins are placed by town until a parcel is in hand.
1LOI in handreceived 2026-09-09
Oklahoma City, OK
55 MW campus
Capacity
55MW
0 MW live today
Ask
$32M
Per MW
$582K
3400 SE 59th Street, Oklahoma City, OK 73135
Plan set also lists 3309 SE 67th Street, Unit 104. East side of S Bryant Ave, next to OG&E Discovery substation.
Compute readiness
7of 18 in place
Hover any item for the detail behind it.
Location and fit
5 mi to Oklahoma City
Low-latency inference possible
Within reach of a metro. Can serve user-facing inference once the build is in.
Missing6
Build or buy
PowerEnergized, load running todayPowerFirm (non-interruptible) servicePowerBackup power (gen or UPS)SiteLand owned (not leased)SiteEnclosed buildingCoolingLiquid / immersion ready
Unverified5
Not yet confirmed
PowerUtility account transfers with the dealConnectivityTwo or more carriersConnectivity10G or better availableSiteWater on siteSiteFenced and gated
In place7
PowerUtility contract in forcePowerTransformers on sitePowerSwitchgear and distributionConnectivityLit fiber to the siteSiteRoom to expandSiteZoning allows data centerCoolingAir-cooled ready
Power
4.8¢/kWh · Modeled at 50 MW on Aug 2026 tariffs; 3.5 to 3.7¢ all-in for a curtailable load.
Utility
OG&E · SPP
Position
15 MW + 40 MW OG&E agreements. ~20 MW historical peak. Dark today; OG&E has not reduced either contract.
Connectivity
Lit fiber to the site per seller; carrier and strand count being confirmed.
On site
Eight pad-mount transformers and container pads, switchgear, 40 MVA primary transformer. All included.
Structure
Lease then mandatory purchase
Terms
Seller LOI: 24-month NNN lease at $4,000/MW/mo then mandatory purchase at $32M fixed.
Land
84.23 acres · I-2 industrial
Notes
John's group wants capacity spread across sites, not 55 MW in one place.
2Availablereceived 2026-09-10
Paducah, KY
10 MW Lovelaceville building
Capacity
10MW
live today
Ask
TBD
no price yet
Per MW
TBD
3441 Lovelaceville Rd, Paducah, KY 42001
McCracken County. Fully fenced, gated.
Compute readiness
11of 18 in place
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Location and fit
123 mi to Nashville
Training or batch compute
Remote site with real fiber and liquid capability. Latency-sensitive inference is not a fit here; dense, latency-tolerant workloads are.
Missing3
Build or buy
PowerFirm (non-interruptible) servicePowerBackup power (gen or UPS)SiteLand owned (not leased)
Unverified4
Not yet confirmed
PowerTransformers on sitePowerSwitchgear and distributionSiteRoom to expandSiteZoning allows data center
In place11
PowerUtility contract in forcePowerEnergized, load running todayPowerUtility account transfers with the dealConnectivityLit fiber to the siteConnectivityTwo or more carriersConnectivity10G or better availableSiteEnclosed buildingSiteWater on siteSiteFenced and gatedCoolingAir-cooled readyCoolingLiquid / immersion ready
Power
5.43¢/kWh · Historical average all-in; 5.9¢ fixed option available through BP for five years.
Utility
Paducah Power (IM-1 market-based interruptible) · MISO
Position
10 MW available now on Paducah Power; expandable with substation buildout. Interruptible rate, 0 hours curtailed in the past 2 years.
Connectivity
Multiple carriers on site (Comcast, AT&T); 100G+ available at no cost per seller.
On site
9,600 sq ft enclosed building, 6-inch concrete floors, workbench and office, city water on site. Immersion or water-cooled fit; air-cooled workable.
Structure
Sublease (leasehold, 4x 5-yr renewals, ROFR to buy)
Terms
No price given yet. Seller prefers a sublease; open to sale of the leasehold. Seller holds the lease with 4x 5-year renewals and a ROFR to purchase.
Land
KY use and sales tax exemption for crypto mining (9%)
Notes
Best building of the group for compute: enclosed, water, carriers on site. Need the sublease price and the head lease.
3Availablereceived 2026-09-10
Princeton, KY
5 MW turnkey
Capacity
5MW
live today
Ask
$1.5M
Per MW
$300K
936 Grooms Ln, Princeton, KY 42445
Caldwell County. Farmland with board approval, leased at $2,000/mo.
Compute readiness
5of 18 in place
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Location and fit
89 mi to Nashville
Batch, latency-tolerant compute
Remote, air-cooled. Batch inference, rendering, research jobs. Not user-facing inference.
Missing8
Build or buy
PowerFirm (non-interruptible) servicePowerBackup power (gen or UPS)ConnectivityLit fiber to the siteConnectivityTwo or more carriersConnectivity10G or better availableSiteLand owned (not leased)SiteEnclosed buildingCoolingLiquid / immersion ready
Unverified5
Not yet confirmed
PowerTransformers on sitePowerSwitchgear and distributionSiteRoom to expandSiteWater on siteSiteZoning allows data center
In place5
PowerUtility contract in forcePowerEnergized, load running todayPowerUtility account transfers with the dealSiteFenced and gatedCoolingAir-cooled ready
Power
6.6¢/kWh · 2025 all-in: MISO market (~$65.6/MWh) + ~$23/MWh adder. 2024 all-in averaged 5.4¢.
Utility
Princeton Electric (IM-1 rate schedule) · MISO
Position
Grid connected, no pending approvals, power available immediately. Curtails in 2 MW blocks.
Connectivity
Twisted-pair to site, 150 x 150 Mbps, Layer 3 switch, VLAN per container. Not fiber-grade for compute.
On site
1x 20 ft container (450 kW) + 7x 20 ft Antboxes (700 kW), ~430 ASICs, barbed wire, NVR cameras, floodlights.
Structure
Purchase of infrastructure on leased land
Terms
Includes all site infrastructure and lease position. Land lease $2,000/mo. ~$600K 3-month security deposit for full 5 MW (surety bonds allowed).
Land
Local KY tax refund (UGRLT)
Notes
Leased land and 150 Mbps connectivity are the two things to solve for a compute tenant.
4Availablereceived 2026-09-10
Wickliffe, KY
3.8 MW turnkey
Capacity
3.8MW
2 MW live today
Ask
$790K
Per MW
$208K
$395K per live MW
823 Westvaco Rd, Wickliffe, KY 42087
Ballard County. Fully fenced, gated. 10G capable with a modem switch; 100G+ available at no cost per seller.
Compute readiness
9of 18 in place
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Location and fit
131 mi to St. Louis
Batch, latency-tolerant compute
Remote, air-cooled. Batch inference, rendering, research jobs. Not user-facing inference.
Missing5
Build or buy
PowerFirm (non-interruptible) servicePowerBackup power (gen or UPS)SiteRoom to expandSiteEnclosed buildingCoolingLiquid / immersion ready
Unverified4
Not yet confirmed
PowerSwitchgear and distributionConnectivityTwo or more carriersSiteWater on siteSiteZoning allows data center
In place9
PowerUtility contract in forcePowerEnergized, load running todayPowerTransformers on sitePowerUtility account transfers with the dealConnectivityLit fiber to the siteConnectivity10G or better availableSiteLand owned (not leased)SiteFenced and gatedCoolingAir-cooled ready
Power
5.2¢/kWh · Seller: ~6.0 to 6.2¢ gross, ~5.1 to 5.2¢ net of DR. DR pays $75,000/MW/yr; 25 hrs curtailed last term, up to 100 hrs/yr contractually. T&D bundled.
Utility
Kentucky Utilities (TODP) · PJM (LG&E-KU)
Position
3.8 MW confirmed substation capacity with Kentucky Utilities; 2 MW energized, 1.8 MW expansion needs transformer and containers.
Connectivity
2.5 Gbps symmetrical on site.
On site
New Maddox 2,500 kVA transformer, 1x 1 MW custom + 2x 0.5 MW air-cooled containers, 500+ ASICs, 5 years operating history.
Structure
Entity acquisition, owned land
Terms
Entity acquisition: preserves the KU account, demand response contract and permits.
Land
0.25 acres · Qualified Opportunity Zone; potential Rural QOZ under OBBBA 2025
Notes
Small footprint (0.25 acres). Seller prefers to sell, open to lease or hosting. Same seller as the Paducah 10 MW, 30 minutes apart; offered standalone or as a 13.8 MW package.
5Availablereceived 2026-09-08
Watonga, OK
1 MW pilot
Capacity
1MW
live today
Ask
$1.3M
Per MW
$1.3M
3301 East OK-3, Watonga, OK 73772
Blaine County. ~4.0 acres including surface, mineral and water rights.
Compute readiness
6of 18 in place
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Location and fit
55 mi to Oklahoma City
Pilot only
Too small for a tenant on its own.
Missing5
Build or buy
PowerFirm (non-interruptible) servicePowerBackup power (gen or UPS)SiteRoom to expandSiteEnclosed buildingCoolingLiquid / immersion ready
Unverified7
Not yet confirmed
PowerSwitchgear and distributionPowerUtility account transfers with the dealConnectivityLit fiber to the siteConnectivityTwo or more carriersConnectivity10G or better availableSiteZoning allows data centerSiteFenced and gated
In place6
PowerUtility contract in forcePowerEnergized, load running todayPowerTransformers on siteSiteLand owned (not leased)SiteWater on siteCoolingAir-cooled ready
Power
5.7¢/kWh · Deck figure; fuel factor 2.4¢ this summer per OG&E filing. Verify on a bill.
Utility
OG&E · SPP
Position
OG&E Service Level 3, ten-year term from March 2025, load reduction rider. Path to 3 MW reported.
Connectivity
Unknown.
On site
Two containers, two 2,500 kVA transformers.
Structure
Purchase
Terms
Ask. A June LOI from another buyer was at $1.0M.
Land
4 acres
Notes
Pilot size. Closes fast; not a tenant site on its own.
Gone
Kept for the per-MW reference. Not in the totals above.6Gonereceived 2026-08
Pecos, TX
15 MW (Project Peacock)
Capacity
15MW
live today
Ask
$7.5M
Per MW
$500K
262 County Road 118, Lot 7, Reeves County, TX
Power
4.8¢/kWh · At 95% load factor.
Utility
ERCOT West · ERCOT
Position
ERCOT West, power contracted through April 2031.
Structure
Purchase
Land
Notes
Under contract to another buyer. Asked for first call if it falls out.
7Gonereceived 2026-08
Ardmore, OK
8 MW energized shell
Capacity
8MW
live today
Ask
$4M
Per MW
$500K
Ardmore, OK (address pending)
Carter County. Address never provided.
Power
4.5¢/kWh
Utility
SPP
Position
~4.5¢ through 2031. Land, transformer and fiber in place.
Connectivity
In place.
Structure
Purchase
Land
Notes
Taken by an AI neocloud on Sep 9, 2026.
8Gonereceived 2026-09-10
Victorville, CA
3 MW compute + storage behind a leased industrial building
Capacity
3MW
live today
Ask
$8.87M
Per MW
$2.96M
13290 Sabre Blvd, Victorville, CA 92394
Southern California Logistics Center, next to SCLA. APN 0459-192-08. 55,000 SF metal building on 5.59 acres, built 1999.
Power
Municipal rates below investor-owned utilities per the OM; no rate in hand.
Utility
Victorville Municipal Utility Services (VMUS) · CAISO
Position
Service is live and running today. Plan: 3 MW of compute on the building's existing 7,000A / 277-480V service, with battery storage to carry compute when the two tenants are not drawing. No separate MW demand contract for compute load; service is municipal (VMUS).
Connectivity
Spectrum, Frontier and AT&T serve the address; lit fiber to the building not confirmed.
On site
7,000A service, five 14x14 drive-in doors, 22 to 24 ft clear, overhead cranes, wet sprinklers, fully gated. Two tenants in place to 2029 and 2032.
Structure
Fee purchase of an income property, compute built in the yard
Terms
Building purchase at $161 PSF, 7.25% year-1 cap on two NNN leases (WALT 4.1 yrs, 3.5% bumps). Compute build and storage are on top of this; raising ~$20M for the full site. Per-MW here is the building only.
Land
5.59 acres · SP1-92 light industrial; Opportunity Zone; FTZ #243; Mojave Desert AQMD (outside SCAQMD)
Notes
The California anchor for the distributed platform. Different trade from the Oklahoma and Kentucky sites: bought on a cap rate with tenants paying the mortgage, compute is the upside. Existing tenants hold the electrical service until 2029 and 2032.