TLDR ALP stock jumps 5% after Alpha Compute unveils a $55M Pennsylvania deal plan. Pennsylvania project targets 200 MW initially with expansion potential to 1 GW. Alpha Compute plans on-site
Alpha Compute Corp (ALP) shares rose 4.91% to $0.2029 after announcing a major Pennsylvania energy and data center development agreement. The stock briefly reached about $0.28 during an afternoon spike before giving back that advance later Tuesday trading. The planned project starts with 200 MW of computing capacity and could expand toward 1 GW after approvals.
Alpha Compute signed a binding term sheet for mineral, surface, and pore-space assets in northern Pennsylvania through its management subsidiary. The agreement gives the subsidiary an exclusive option to acquire the property at a base purchase price of $55 million. A $3 million deposit would follow a definitive purchase agreement and count toward the remaining cash payment required at closing.
The property includes about 1,800 mineral acres with unleased Marcellus gas rights across the formations covered by the acquisition. Alpha Compute would also gain surface and pore-space assets, while existing Utica and deeper formation leasehold rights remain excluded. The company described the site as a greenfield project, meaning no power generation or data center capacity operates today.
Alpha Compute plans to take the initial 200 MW of power and data center capacity if development reaches commercial operation. The company could increase capacity toward 1 GW, subject to financing, permits, diligence, interconnection rights, and final development agreements. Alpha Compute also plans special purpose vehicles and joint ventures to fund property development without relying on equity issuance.
The proposed design combines on-site Marcellus gas production with behind-the-meter generation for the high-performance computing campus in Pennsylvania. A third-party property review estimated all-in electricity costs near $0.0585 per kilowatt-hour for 200 MW over ten years. That estimate sits below PJM commercial and industrial rates of roughly $0.08 to $0.10 per kilowatt-hour, according to Alpha Compute.
The development plan calls for twelve Marcellus wells with average lateral lengths near 13,000 feet across two proposed drilling pads. Nearby high-pressure gas pipelines could provide additional fuel and help support expansion beyond the project’s initial planned capacity. A 115 kV transmission line and nearby substations could also provide optional grid access after required agreements and regulatory approvals.
Alpha Compute identified 80 contiguous acres on a flat plateau that could support the first phase of development. The company plans closed-loop cooling, lighting controls, sound limits, stream buffers, environmental reviews, and a funded decommissioning program. County planning, environmental, water, emergency, and state approvals remain required before construction can proceed or the project can reach operation.
The post Alpha Compute Corp (ALP) Stock: Soars 5% as $55M Pennsylvania Deal Targets 1 GW appeared first on Blockonomi.
