Z Squared acquires majority stake in Paradox Data and its Union County Campus for AI/HPC data center development

Type: Acquisition · Technology: Data Center · Country: United States · Capacity: 150 MW · Announced: 2026-06-26

Nasdaq-listed Z Squared Inc. announced the acquisition of a majority stake in Paradox Data and its Union County Campus, valued at $5 million. The transaction was structured entirely in newly designated Series D convertible preferred stock, with no cash consideration or debt financing. The 10-acre site, located outside El Dorado, Arkansas, currently offers 8MW and Z Squared aims to develop it into a 150MW immersion-cooled campus utilizing grid connectivity alongside natural gas. This acquisition advances Z Squared's strategy to expand aggressively into power generation, data center development, and high-performance compute hosting, pivoting from its historical focus on cryptomining.

Analysis

Z Squared Inc acquired a majority stake in Paradox Data and its 10-acre Union County Campus, located outside El Dorado, Arkansas, for $5 million in newly designated Series D convertible preferred stock. The campus currently offers 8MW and is planned to be developed into a 150MW immersion-cooled campus. Z Squared Inc and Paradox Data are the counterparts in this acquisition. The transaction was announced on 2026-06-26. The acquisition involves the development of the campus utilizing grid connectivity alongside natural gas.

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Counterparties

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