Power

Key Figures

Energy Capacity Under Management

1,020 MW

As of December 31, 20251

Energy Capacity Under Construction

330 MW

As of December 31, 2025

Energy Capacity Under Development

1,230 MW

As of December 31, 2025

Energy Capacity Under Exclusivity

1,755 MW

As of December 31, 20252

Energy Capacity Under Diligence

5,185 MW

As of December 31, 2025

Overview

What We Do

We acquire, develop, and manage critical energy assets such as interconnects, substations, switchyards, generation assets, and related electrical systems. Through active portfolio management and ongoing asset optimization, we seek to maximize long-term, risk-adjusted returns.

Our Power assets form the foundation of our Digital Infrastructure layer, enabling the development of purpose-built data centers for applications like AI and ASIC compute. Historically, we have also monetized our power capabilities through managed services arrangements and the operation of power generation assets.

Our Difference

What Sets Us Apart

A power-first approach differentiates us from traditional data center operators, who have historically treated power acquisition as an afterthought in the digital infrastructure development process.

Equipped with a deep understanding of grid architecture, regulatory dynamics, and the market impact of our load profiles, we seek to identify and secure what we believe to be the most attractive development opportunities in the market.

Origination is, above all, a matter of people and execution. It is a highly specialized discipline that requires deep market expertise, regulatory insight, commercial acumen, and industry credibility. These capabilities are neither widely held nor easily acquired, which is why building the right team is one of our highest priorities.

Asher Genoot・Chief Executive Officer

Our team is led by former executives and team members from some of North America’s largest generation owners, utilities, energy investment firms, infrastructure developers, and trading desks.

Our Team

Our team is led by former executives and team members from some of North America’s largest generation owners, utilities, energy investment firms, infrastructure developers, and trading desks.

Sean Glennan

Chief Financial Officer

Greg Irwin

Senior Vice President, Energy

Brad Richter

Senior Vice President, Energy

Chris Vickery

Vice President, Energy

Notes
  1. Includes 310 MW of power generation assets divested in Q1 2026
  2. Excludes 1,000 MW of potential expansion capacity at River Bend (subject to the expansion of power at the site), for which Fluidstack holds a ROFO under the River Bend lease