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datacenterdynamics.comSEP 182 min read

Blockfusion signs CoreWeave as a customer in Niagara Falls, New York

Blockfusion has signed a 15-year lease with CoreWeave for its Niagara Falls data center, with two five-year renewal options. The deal, previously announced in June, includes up to 300MW of capacity, with 85MW guaranteed. Blockfusion estimates $2.8B in revenue over 15 years, or $5.4B with renewals. CoreWeave, an AI cloud firm, leases data center capacity from various providers. Blockfusion is converting a former power plant into an AI infrastructure site. The deal was announced by Blue Acquisitio

Original reporting
datacenterdynamics.com
Published Sep 18, 2026, 10:43 AM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 18, 2026, 11:26 AM UTC. Informational, not investment advice.
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Blockfusion signs CoreWeave as a customer in Niagara Falls, New York — source image
Source · datacenterdynamics.com
Decision brief

The 30-second read

Med
01

Why it matters

The lease could generate up to $5.4 bn in revenue over 25 years, providing a stable cash‑flow foundation for Blockfusion and underscoring demand for AI‑grade data‑center capacity.

02

Market read

The deal illustrates the repurposing of crypto‑mining assets for AI workloads, a trend that may influence investor sentiment toward both AI infrastructure firms and legacy crypto‑mining operators.

03

What to watch

Potential regulatory scrutiny of repurposing former power‑plant sites and the credit risk of CoreWeave's future cash flows.

Relevance 8/10Novelty 8/10Timing: this week

Background

Blockfusion, a former cryptomining data‑center operator, is transitioning to AI‑focused infrastructure and has secured a 15‑year anchor lease with AI cloud provider CoreWeave in Niagara Falls.

Market effects

Sector

Highlights growing demand for AI‑focused data center capacity, benefiting the broader data‑center and AI infrastructure sector.

Regional

Boosts economic outlook for Niagara Falls region by creating long‑term infrastructure and job opportunities.

Global

Signals continued shift of former crypto‑mining sites to AI compute, a trend of interest to global investors in AI infrastructure.

Counterpoint

What could challenge this read

The long‑term lease may lock Blockfusion into fixed rates, potentially limiting upside if AI compute pricing falls.

Key entities

  • Company
    Blockfusion USA, Inc.

    Data‑center operator converting a former power plant into AI infrastructure.

  • Company
    CoreWeave

    AI cloud provider securing long‑term data‑center capacity.

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