Billionaire Texas Hunt, Crow families join bitcoin firm in $1 billion data center deal

In a significant move blending Texas real estate and energy dynasties with public-market access, members of the billionaire Hunt and Crow families have partnered with Nasdaq-listed Empery Digital Inc. (NASDAQ: EMPD) to develop data centers targeting hyperscalers and AI workloads.

The group has agreed to acquire a powered Midwest industrial facility for $230 million. The site already features approximately 150 MW of capacity, an owned substation, and existing infrastructure under a power agreement with the local utility. It has operated as a power-intensive industrial site for the past three years. Capacity could nearly double to around 300 MW following upgrades.

In parallel, the partners signed a non-binding letter of intent (LOI) for a triple-net lease with an undisclosed leading cloud computing/hyperscaler tenant that could generate up to $1 billion in total payments over its term. The lease would support high-performance computing (HPC) for a global leader in AI computing hardware.

Strategic Partnership Structure

Empery Digital has separately agreed to invest $65 million for a 25% stake in the private acquisition entity. An affiliate of Hunt Properties serves as the managing member. The Crow family participates as minority partners through Crow Holdings.

This marks the first in what the partners expect to be a series of powered-site acquisitions and conversions into data centers. The collaboration leverages Hunt Properties’ expertise in power procurement, utility interconnections, energy infrastructure, and large-scale development.
Crow Holdings’ real estate development and operational know-how.
Empery Digital’s public company platform, capital markets access, and balance sheet (including Bitcoin holdings).

Hunt family interests are led by figures with deep roots in energy (oil heritage) and include ownership of the NFL’s Kansas City Chiefs. The Crow family ranks among America’s largest real estate dynasties.

Location and Purpose: AI-Focused Data Center, Not Bitcoin Mining

The facility is located in the Midwest at a strategically positioned former industrial site. Specific city or state details have not been publicly disclosed.

The project is explicitly for AI and high-performance computing (HPC) data center use — not Bitcoin mining. It targets hyperscalers and cloud providers amid surging AI-driven demand for power and compute. Empery Digital itself maintains a Bitcoin treasury strategy (the company was formerly known as Volcon, an electric vehicle maker that pivoted to Bitcoin holdings in 2025), but this venture represents an expansion into AI infrastructure.

Empery Digital’s co-CEO Ryan Lane stated: “This investment is a very unique opportunity to capitalize on the exploding demand for compute and power and partner with some of the best energy operators and investors in North America…” Hunt Properties Chairman Al Allred emphasized the need for “resilient, mission-critical power delivered at scale” to support AI and HPC ambitions.

Open for Investors?

The specific Midwest project operates through a private entity and is not structured as a public offering or direct investment vehicle for retail investors. However, because Empery Digital is publicly traded on Nasdaq (EMPD), investors can gain indirect exposure by purchasing shares in the company. Empery has indicated it may use its public markets platform and balance sheet (including Bitcoin) to support future deals in the partnership.

The company has also discontinued its public Bitcoin NAV dashboard, noting that reporting value solely based on Bitcoin holdings no longer fully reflects its evolving strategy.

Opposition or Community Concerns

No public opposition, protests, or specific community concerns have been reported regarding this particular Midwest facility. The project benefits from repurposing an existing powered industrial site rather than developing greenfield land, which often reduces local resistance compared to new builds.

Broader concerns about data centers in the Midwest and elsewhere typically center on power grid strain, water use (for cooling), noise, land use (especially farmland), and rising electricity costs for residents. Similar issues have surfaced in parts of Illinois, Wisconsin, and Texas, but nothing ties directly to this anonymous-powered-site conversion.

Outlook

This deal underscores the convergence of energy infrastructure expertise, real estate development, and AI power demand. With hyperscalers racing to secure reliable, large-scale power, repurposing existing powered industrial assets offers a faster path to deployment than new builds.

The partners plan additional acquisitions. Updates on the pipeline are expected in the coming months.

Energy News Beat Channel will continue monitoring developments in this high-stakes intersection of energy, real estate, and digital infrastructure.