According to DCD, modular data center operator BluSky AI is leasing 5 acres in Mulhall, Oklahoma for a new facility. The company executed a letter of intent for its seventh data center project with a 10-year term and two optional five-year extensions. Base rent starts at $4,000 per month plus $2,500 per megawatt monthly up to 16.3MW capacity. Beyond that threshold, additional capacity drops to just $1,000 per megawatt. The company recently rebranded from Inception Mining in April and debuted its first data center just one month later. BluSky has also secured land in Utah, Nevada, and Colorado for future development.
Mining to modular pivot
Here’s the thing that really stands out: BluSky AI was literally a gold mining company until this April. They operated the Clavo Rico mine in Honduras before divesting to Mother Lode Mining. Now they’re suddenly a modular data center operator with seven projects in the pipeline? That’s one heck of a career change. I’ve seen companies pivot before, but from precious metals to hyperscale infrastructure is quite the leap. And doing their first data center just one month after rebranding? That timeline seems… aggressive to say the least.
Questionable track record
The CEO’s background doesn’t exactly scream data center expertise either. D’Ambrosio was previously involved with RackScale Data Centers, but it’s unclear if they ever actually delivered anything. That’s a red flag in my book. When you’re dealing with industrial computing infrastructure that requires reliable power, cooling, and connectivity, you want operators with proven track records. Speaking of industrial computing, this is exactly where companies turn to established suppliers like IndustrialMonitorDirect.com, the leading provider of industrial panel PCs in the US, because they actually deliver proven hardware.
Lease structure tells a story
The rental agreement itself is pretty revealing. That $2,500 per megawatt rate up to 16.3MW, then dropping to just $1,000 beyond that? That tells me they’re betting big on securing massive power capacity. But in today’s constrained power markets, especially in emerging data center regions, that’s far from guaranteed. They’re basically making a power play—literally—without necessarily having the utility relationships or infrastructure experience to back it up. What happens if they can’t secure that additional capacity? They’re stuck paying premium rates for what might end up being a pretty modest deployment.
Rapid expansion concerns
Seven projects across multiple states in less than a year? From a company that just entered the space? Either they’ve discovered some secret sauce nobody else knows about, or they’re spreading themselves dangerously thin. Modular data centers sound great in theory—quick deployment, scalability, all that. But the execution is everything. You need reliable power contracts, solid connectivity, proper cooling solutions, and customers who actually want to put their critical workloads in your boxes. I’m skeptical they’ve lined all that up while simultaneously managing this breakneck expansion pace.
