Tenants and leases
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Signed and Billing: How Core Scientific Counts Its Data Center Capacity in Its Results for the Second Quarter of 2026
Core Scientific's results release of July 28, 2026 gives one figure for the power capacity it has leased to customers and another for the capacity it is billing for.
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Rent From Delivery: TeraWulf's Form 8-K on a Lease at Its Kentucky Campus
TeraWulf's Form 8-K of July 6, 2026 describes a lease its subsidiary entered into as landlord at a data center campus in Kentucky. Rent commences upon the delivery of the leased premises, which is expected in phases, and the tenant's payments are expected to be supported by an investment-grade credit.
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Powered Shell Leases: Centuria Industrial REIT's Data Center Strategy of June 2026
In a presentation lodged on June 16, 2026, Centuria Industrial REIT listed powered land leases, powered shell leases and fully fitted leases as data center conversions it "may" consider, and set out for several of its sites what it calls "Future optionality."
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The Same Hyperscaler Again: Applied Digital's Release on Leases at Polaris Forge 3
Applied Digital's release of May 20, 2026 announces 15-year take-or-pay leases at its fourth campus with a hyperscaler that had leased from it before. It gives the campus's critical IT load beside the utility power behind it, and the leases' base-term revenue beside their value if all renewal options are exercised.
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A Mix of Powered Shell, Fitted and Fitted Hyperscale Data Centers: Mapletree Industrial Trust's Presentation of May 2026
In a presentation of May 2026, Mapletree Industrial Trust split the gross rental income of its data center portfolio by lease type and by tenant type, with powered shell data centers among the lease types.
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Which the Customer Will Contract Directly: SEGRO's Data Center Update of March 2026
On March 16, 2026, SEGRO said it had signed an agreement to develop a powered shell data center for an existing customer on the Slough Trading Estate, with power the customer will contract directly. The same update reported planning committee approval for the company's first fully fitted data center.
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Currently in the Design Phase: Applied Digital's Form 8-K on a Third Datacenter Lease
Applied Digital's Form 8-K with a date of report of August 28, 2025 describes a third datacenter lease at its North Dakota campus, for a building the filing says "is currently in the design phase." The company has guaranteed its subsidiary's obligations under the lease, and issued the tenant a warrant.
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Subject to Lease Documents and Financing: Applied Digital's Conditional Anchor Tenant Agreement at Ellendale
In January 2024 Applied Digital said it had signed a conditional agreement to provide data center capacity for ten years at its campus in North Dakota. The release names no tenant, and the agreement was conditional on securing financing to complete construction.
