Crypto firm SOS inks Indonesian deal to potentially build 500MW AI data center

US-based cryptocurrency miner SOS Limited announced last week its wholly-owned subsidiary in Singapore Future Digital Trading Pte. Ltd., has signed a non-binding Framework Cooperation Memorandum with an unnamed Indonesian company to potentially develop a 500-megawatt wholesale AI and cloud data center campus in Bintan, Indonesia. If the project proceeds, construction of Phase 1 is expected to have a capacity of about 50MW, the firm said in a press release.

SOS said it has received indicative, non-binding expressions of interest for about 180MW from prospective tenants, including global cloud, internet and AI platforms. If the project proceeds, SOS plans to fund the platform through an equity and project-finance structure, with senior debt expected to be arranged with institutional lenders.

Under the Memorandum, the local partner will attempt to secure no less than 60MW of effective power capacity prior to commissioning of the first phase.

The Memorandum contemplates a 10-year coal-index-linked pricing formula intended to provide competitive, market-responsive electricity costs. However, final power pricing, terms and conditions are subject to negotiation and execution of definitive power supply documentation, and actual delivered electricity prices will depend on coal market conditions and other factors, the release added.