QumulusAI (NASDAQ: QMLS) has extended its data center lease in Oklahoma through January 31, 2044, replacing a single five-year renewal option with three consecutive five-year options exercisable at the company’s discretion with 60 days’ written notice.
The facility, operational since 2024, spans approximately 10.57 acres and provides a total contracted power capacity of 19 megawatts. Of this, 10 MW is currently active, supporting legacy blockchain mining and hosting operations, while 9 MW remains available for future expansion. The lease amendment also permits leasehold financing at the site to facilitate project-level capital structures for upcoming developments.
QumulusAI describes itself as a distributed AI cloud platform offering high-performance GPU compute through a network of data center sites. Scott Krosnowski, Chief Financial Officer, emphasized the strategic advantage of long-term control over an established, energized site. "Long-dated control of an established, energized site is a different asset than a lease with a runway," Krosnowski said. "The renewal options here are ours to exercise, and that optionality is what makes the site's available power worth planning around."
