Blockfusion Signs CoreWeave to 15-Year Niagara Falls Data Center Lease
Blockfusion has signed a 15-year lease with CoreWeave (NASDAQ: CRWV) for its Niagara Falls, New York, data center campus, advancing its transition from cryptocurrency infrastructure to AI hosting.
The agreement includes two five-year renewal options and a separate expansion agreement, Blockfusion said in a Wednesday statement. It replaces a preliminary deal announced in June, when the tenant was unnamed. Financial terms, contracted capacity and delivery dates were not disclosed.
The June proposal contemplated up to 300 megawatts of computing capacity, including 85 megawatts under a take-or-pay arrangement requiring payment regardless of usage. Blockfusion then estimated that the 85-megawatt portion could generate about $2.8 billion over 15 years, or $5.4 billion with both renewals. Those estimates depended on final terms and full performance and should not be treated as the disclosed value of the signed lease.
Expansion remains conditional on firm power commitments and CoreWeave’s approval of the power infrastructure plan. Blockfusion warned that failure to meet those conditions could leave expansion capacity unleased. Further details will appear in an amended securities filing.
The campus occupies a former power plant and is being adapted for liquid-cooled AI equipment. Blockfusion announcement In June, management projected roughly $900 million in core construction spending, excluding expansion and acquisition costs. That plan assumed access to additional financing, underscoring the investment required to convert existing power infrastructure into facilities capable of supporting AI workloads.
CoreWeave is also leasing capacity from other developers. Galaxy Digital said it delivered 133 megawatts of computing capacity at its Helios campus in Texas during the second quarter, part of 526 megawatts leased to CoreWeave across three phases.
Blockfusion’s proposed merger with blank-check company Blue Acquisition remains pending. The combined business expects to trade on Nasdaq as Blockfusion Digital Infrastructure under the symbol BDI, subject to closing conditions.
