A major convergence of Texas real estate dynasties, energy expertise, and cryptocurrency-backed capital is reshaping how AI data centers get built and powered. Members of the billionaire Hunt and Crow families have joined forces with Nasdaq-listed Empery Digital Inc. to acquire and convert a powered Midwest industrial facility into a high-performance computing data center targeting hyperscalers and artificial intelligence workloads.

What Makes This Deal Different From Traditional Data Center Development?

Rather than building new data centers from scratch, the partnership is repurposing an existing industrial site that already has significant power infrastructure in place. The group acquired a powered Midwest facility for $230 million that currently features approximately 150 megawatts (MW) of capacity, an owned substation, and existing power agreements with local utilities. The site has operated as a power-intensive industrial facility for the past three years, and capacity could nearly double to around 300 MW following planned upgrades.

This approach sidesteps one of the biggest bottlenecks in AI infrastructure: securing reliable, large-scale power. Hyperscalers racing to deploy artificial intelligence systems need massive amounts of electricity, and existing powered sites offer a faster path to deployment than developing greenfield land from scratch.

Who Are the Players, and What Do They Bring to the Table?

The partnership structure reveals why this deal matters beyond just real estate. Empery Digital, a publicly traded company that pivoted from electric vehicle manufacturing to Bitcoin holdings in 2025, is investing $65 million for a 25 percent stake in the acquisition entity. Hunt Properties, an affiliate led by figures with deep roots in energy infrastructure and ownership of the Kansas City Chiefs, serves as the managing member and brings expertise in power procurement, utility interconnections, and large-scale development. The Crow family, one of America's largest real estate dynasties, participates as minority partners through Crow Holdings and contributes real estate development and operational know-how.

"This investment is a very unique opportunity to capitalize on the exploding demand for compute and power and partner with some of the best energy operators and investors in North America," stated Ryan Lane, co-CEO of Empery Digital.

Ryan Lane, Co-CEO at Empery Digital

The partnership also signed a non-binding letter of intent for a triple-net lease with an undisclosed leading cloud computing and hyperscaler tenant. That lease could generate up to $1 billion in total payments over its term and would support high-performance computing for a global leader in AI computing hardware.

How Does This Fit Into the Broader AI Infrastructure Race?

This deal underscores a critical shift in how AI infrastructure gets financed and deployed. Rather than relying solely on traditional venture capital or corporate balance sheets, the partnership leverages multiple sources of capital and expertise. Empery Digital's public company platform and balance sheet, including its Bitcoin holdings, provide access to capital markets. Hunt Properties brings energy and utility expertise accumulated over decades. The Crow family contributes real estate development capabilities. Together, they can move faster than any single player could alone.

"The need for resilient, mission-critical power delivered at scale is essential to support AI and HPC ambitions," emphasized Al Allred, Chairman of Hunt Properties.

Al Allred, Chairman at Hunt Properties

The partners expect this to be the first in a series of powered-site acquisitions and conversions. Updates on the pipeline are expected in the coming months. Because Empery Digital is publicly traded on Nasdaq under the ticker EMPD, investors can gain indirect exposure to this partnership strategy by purchasing shares in the company.

Steps to Understanding AI Data Center Infrastructure Investment

• Identify Power as the Constraint: AI data centers consume enormous amounts of electricity, making access to reliable, large-scale power the primary bottleneck in deployment, not computing hardware or real estate alone.
• Recognize Repurposing Advantages: Converting existing powered industrial sites offers faster deployment timelines and lower development risk compared to building new facilities on greenfield land.
• Evaluate Multi-Stakeholder Partnerships: Successful AI infrastructure deals increasingly combine energy expertise, real estate development, capital markets access, and operational know-how from multiple partners rather than relying on single-company solutions.
• Monitor Public Company Exposure: Investors interested in AI infrastructure can gain exposure through publicly traded companies like Empery Digital that use their balance sheets and capital markets access to fund and scale data center partnerships.

Why Is This Midwest Facility Specifically Positioned for AI?

The project is explicitly designed for AI and high-performance computing data center use, not cryptocurrency mining. Although Empery Digital maintains a Bitcoin treasury strategy, this venture represents an expansion into AI infrastructure to serve hyperscalers and cloud providers amid surging demand for compute power driven by artificial intelligence adoption.

The facility benefits from repurposing an existing powered industrial site rather than developing new land, which typically reduces local resistance compared to greenfield builds. No public opposition or community concerns have been reported regarding this particular project. Broader concerns about data centers in the Midwest and elsewhere typically center on power grid strain, water use for cooling systems, noise, land use changes, and rising electricity costs for residents, but nothing ties directly to this facility conversion.

This deal exemplifies how the convergence of energy infrastructure expertise, real estate development capability, and AI power demand is reshaping capital deployment in the technology sector. With hyperscalers racing to secure reliable, large-scale power, partnerships that combine these capabilities offer a competitive advantage in an increasingly power-constrained market.