QumulusAI (NASDAQ: QMLS) has extended its lease for an Oklahoma data center through January 31, 2044, replacing a single five-year renewal option with three consecutive five-year options exercisable at the company’s discretion. Each option requires 60 days’ written notice prior to term expiration, provided the company remains in compliance with the agreement.
The 10.57-acre facility, operational since 2024, provides a total contracted power capacity of 19 MW, with 10 MW currently active for legacy blockchain mining and hosting operations. The remaining 9 MW of available capacity offers potential for future development, supported by leasehold financing provisions in the amended agreement.
Scott Krosnowski, Chief Financial Officer of QumulusAI, highlighted the strategic value of the long-term lease. 'Long-dated control of an established, energized site is a different asset than a lease with a runway,' he said. 'The renewal options here are ours to exercise, and that optionality is what makes the site's available power worth planning around.'
QumulusAI operates a distributed AI cloud platform, providing access to high-performance GPU compute via a network of data center sites.
