PowerBank Announces First 2 MW Modular Data Center in Ontario with Potential Annual Lease Revenue of Approximately C$2 Million
PR Newswire•29/10/2026•08:30 ET
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Key Highlights
- ➤2 MW Ontario modular data center could generate approximately C$2 million annual lease revenue
- ➤Project designed for approximately 500 NVIDIA GB300 GPUs across 11 racks
- ➤C$10 million estimated facility capital cost, excluding tenant-purchased GPUs and servers
- ➤Commercial operation anticipated in fiscal 2028, subject to permits, financing and construction
- ➤PowerBank has not secured a tenant; zoning amendment and building permit remain outstanding
Expert Statements
Dr. Richard Lu, Chief Executive Officer of PowerBank
“Compute is following power, and the companies that already have power in the ground are the ones that will win the next phase of AI”
Dr. Richard Lu, Chief Executive Officer of PowerBank
“This first lease shows our model at work: an energy site we have already developed now positioned to earn a second revenue stream from AI infrastructure. As inference moves closer to the people and businesses who use it, North America will need many smaller data centers built in months, not a handful of giant campuses built over years. PowerBank's portfolio is positioned for exactly that shift, and we expect this to be the first of many sites we advance with our partner.”
PowerBank Announces First 2 MW Modular Data Center in Ontario with Potential Annual Lease Revenue of Approximately C$2 Million PR Newswire
Project designed to accommodate approximately 500 NVIDIA GB300 GPUs, to be provided by an AI cloud tenant
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