Core Scientific began this Ward County build as a bitcoin mine and never finished it. The half-built 215 MW site went to Celsius Mining in September 2023 for $14 million, and came out of the Celsius estate as Ionic Digital in January 2024. Building 1 was energised on 27 August 2024, and the campus outside Barstow now stands at 234 MW energised, interconnected to ERCOT through Texas-New Mexico Power. Every megawatt is committed: Nscale took the whole site on a 126-month triple-net lease at roughly $182.5 million a year with a 3 percent escalator from year six. The last mining hardware was decommissioned on 19 December 2025 and rent began in August 2026. A further 89 MW is contracted to Nscale for the second half of 2027, and Ionic is seeking approval to reach 700 MW on about $64 million of capital spending. Texas qualified data centre tax status runs through to the tenant. Ionic listed on Nasdaq as IOND on 28 July 2026; the four other Texas sites it holds, at East Stiles, Garden City, Rebel and Stiles, are still mining and range from 12 MW to 50 MW apiece.
Facility Specifications
Site information
Power capacity
234 MW energised
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Location
Interactive map
Frequently asked questions
Who holds the lease on the Cedarvale campus?
Nscale, on a 126-month triple-net lease covering all 234 MW. It commenced in November 2025 with rent from August 2026, and carries about $1.95 billion of contracted revenue, rising to roughly $2.6 billion if the expansion option is exercised.
What was the site before the lease?
A bitcoin mine. Core Scientific started construction, Celsius Mining bought the unfinished 215 MW site in September 2023, and Ionic Digital completed it; the last mining assets came out on 19 December 2025.
How is the campus connected to the grid?
Through Texas-New Mexico Power inside ERCOT, at 234 MW energised. About 50 acres of the Ward County land have been developed for the tenant, with the balance held for expansion.
How far can capacity grow?
Nscale is contractually bound to take another 89 MW, expected to energise in the second half of 2027, and Ionic is pursuing approval for a 700 MW campus by the end of 2027.
Which company owns the site?
Ionic Digital Inc., formed in January 2024 out of the Celsius Mining bankruptcy estate and listed on Nasdaq as IOND since 28 July 2026.