QumulusAI Extends Oklahoma Data Center Lease Through 2044

QumulusAI amended the surface lease for its Oklahoma data center, extending the company's potential tenure at the site through January 31, 2044. The new agreement replaces a single five-year renewal option with three consecutive five-year options that the company can exercise at its own discretion.

The 10.57-acre site has been operational since 2024 and has a total contracted power capacity of 19 MW. Currently, 10 MW supports blockchain mining and hosting, while 9 MW remains available for further use. The amendment also permits leasehold financing to support capital structures for future development of the facility.

Chief Financial Officer Scott Krosnowski stated that the renewal options are for the company to exercise and that this optionality makes the available power worth planning around. He noted that long-dated control of an established, energized site is a different asset than a lease with a runway.