Project Lucky 7

Density moves capacity most

• Across the three cases, density swings 50% (1.0 to 1.5 MW per acre); buildable acres swing 8% (240 to 260).
• Density is MW of data center load per buildable acre. 1.0 MW per acre is the lowest we've heard from market participants; the top case uses 1.5 MW per acre.
• Public campuses pencil at roughly 0.9 to 2 MW per gross acre: Meta's Louisiana campus, ~2 GW on 2,250 acres (~0.9); Crusoe's Abilene campus, 1.2 GW on ~1,100 acres (~1.1); JLL puts 1 GW-plus campuses at 500 to 800 acres (1.25 to 2.0). Our cases are stated per buildable acre; on 323 gross acres the top case reads ~1.2 MW per gross acre.

From 323 acres to the three cases

• ±323 acres surveyed, less the access road strip (~24) and the pipeline corridor easement (~31.5) leaves ~264 buildable on the pre-survey shading plan.
• The cases sit below that on purpose: 260 is the plan, 250 the base, 240 the low case, leaving room for setbacks, drainage, geotech and topography.
• All estimated until the ALTA survey (due Nov 4) and the stamped exhibit. Title and survey are on order.

Cost per MW

• All-in to build, excluding chips and GPUs: $9M, $10M and $11M, with $10M the base. A lower cost means a smaller tax savings, so the conservative case uses the lowest.
• Source: Cushman & Wakefield, Data Center Development Cost Guide 2026: $8.9M–$23.3M per MW across the U.S. and Canada, with Cheyenne in the lower-cost third of its 38 markets.