The plain-English reference on what is being built across Arkansas, who is behind it, who supplies the power, and what communities can still ask for. Built from public records. Sources and unknowns shown, not just the verdict.
Arkansas is looking at one of the largest buildouts of computing power in its history. The facts are scattered across trackers, utility filings, county minutes, company pages, and local news, and some of it sits behind paywalls and NDAs.
Grey Swan gathers what is public into one place, marks clearly what is still unknown, and walks through each project one location at a time. Clarksville is first. As we finish each facility page, we release it here, and we aim to put breaking news on this hub first, then on Substack and socials.
The goal is simple: help neighbors, officials, and builders see the same facts, so each community can be a partner in the deal and not just a host.
This model works for any state. We are starting with Arkansas because this is home. The same public-records method (gather, verify, mark the unknowns, report in plain English) can travel.
A note on language. News reports and some project names use an older term. We call these compute campuses, because that is what they could be: community partnerships and real educational facilities where everyone can win.
Trackers, filings, official agendas, company pages, and local reporting, each one linked.
Every page separates what is documented from what is not yet public.
Free to read. Written for residents, councils, quorum courts, and reporters.
Each facility gets its own page and article. Clarksville is first. We build this one location at a time and post breaking updates here first.
A grey swan, as we use the term, is 80% likely to 100% inevitable. These events happen all the time. Some are known and planned around, though people could be better prepared. Compute campuses are one: AI is here to stay, power is tight, and the buildout is already underway in Arkansas.
Every new technology meets a rush, then fear, then argument. Over the next 12 months, we will learn how much this technology can help the people who need it most. As that becomes clearer, a lot of the fear will ease, and this can become a bipartisan solution, especially with nuclear power and nuclear fusion. That is not a promise that a fusion plant arrives next year, or that either party has already signed on. It is why communities should negotiate now, while uncertainty still leaves room for a better deal.
Four facilities operating, six under construction, and 24 announced in Aterio's count (data as of November 9, 2026).
Clarksville's first two buildings are targeted for January 2028. Other counties are negotiating now.
Decisions signed now shape local power, water, land, jobs, and taxes for decades.
Public records, utility filings, official agendas, local news, company pages, and trackers.
Cross-check sources. Where they disagree, show both numbers instead of picking one.
Known vs. not yet public, side by side. Nothing hidden is invented.
A custom report and a short explainer, in plain English, with every source linked.
Example: Clarksville's 65% abatement for up to 30 years, and the 43-acre lease at $1,000 a month, are in public reporting.
Example: the parent company of Clarksville's tenant, Hatchbo LLC, is not public, and nine of Aterio's 34 facilities have no provider named. We leave them unmarked.
The same approach works on other grey swan subjects across God, Energy, Technology, and Money. It works for any state, starting with Arkansas, and for any industry that needs hard-to-find public information turned into a clear report.
Aterio is a commercial research firm that tracks compute facilities across the U.S. Its public Arkansas summary is where the 34-facility and 3,618 MW figures come from.
Aterio counts individual buildings or phases as facilities, so 34 facilities is not 34 separately named campuses.
Aterio Arkansas summary · data as of Nov 9, 2026
34 facilities, Aterio, data as of Nov 9, 2026
Four providers: 25 facilities, about 87% of MW
"Not identified" MW is a computed residual (3,618 minus the four named providers).
| County | Facilities | Estimated MW | Main named project |
|---|---|---|---|
| Pulaski | 15 | 1,448 | AVAIO Digital Leo; Google Port of Little Rock |
| Grant | 4 | 800 | Sheridan / Clean Cloud Energy |
| Crittenden | 5 | 486 | Google West Memphis |
| Johnson | 4 | 432 | Serverfarm ARK, Clarksville |
County figures: Aterio public summary, data as of Nov 9, 2026. Selected counties shown.
Facility counts and MW are Aterio estimates unless noted. Developer figures are labeled as developer figures.
Aterio's count and Grey Swan's named list measure different things. A campus can be one named record and several Aterio facilities. Some of our 22 are crypto mines, older colocation sites, or cancelled projects. Do not subtract 22 from 34.
Aterio counts 34 facilities in Arkansas (about 3,618 MW estimated): Google 10, AVAIO Digital 7, Clean Cloud Energy 4, Serverfarm 4, and 9 with no provider named in Aterio's public summary. Those are Aterio's building and phase counts, not 34 separately named campuses.
Numbered slots are our way of picturing Aterio's totals. They are not Aterio's IDs or a copy of its paid list. The nine hidden slots stay unmarked; we don't guess names.
Separately, Grey Swan tracks 22 named public records, plus one unnamed proposal near Redfield (Grant County NDAs; developer name redacted). Redfield sits outside the 22. Google's Port of Little Rock site near Sweet Home is counted once. The nine Aterio slots with no public provider stay unmarked on our pages; we don't invent names.
| # | Project | Place / county | Status | MW (reported) | Grey Swan |
|---|---|---|---|---|---|
| 1 | Serverfarm ARK (ARK1–ARK4) | Clarksville / Johnson | Under construction | 432 IT; ~660 on-site generation reported | ★ Covered |
| 2 | Google West Memphis / Project Pyramid | West Memphis / Crittenden | Under construction / phased | 600 reported (Aterio county est. 486) | Coming soon |
| 3 | AVAIO Digital Leo | Near Wrightsville / Pulaski | Ground broken (developer reports) | 150 initial; 1,070 planned power | Coming soon |
| 4 | Sheridan / Clean Cloud Energy | NW of Sheridan / Grant | Proposed; EdgeConneX due diligence reported | 800 campus | Coming soon |
| 5 | Google Port of Little Rock / Willowbend Capital | Little Rock, near Sweet Home / Pulaski | Planned; redesign / permitting | 100+ reported | Coming soon |
| 6 | Conway / Forgelight Ventures LLC | Conway / Faulkner | Proposed; end user unnamed | 10 reported | Coming soon |
| 7 | Z Squared / Paradox Data AI-HPC campus | Near El Dorado / Union | Proposed; county moratorium reported | Up to 150 | Coming soon |
| 8 | NewRays One (bitcoin mine) | Bono community / Faulkner | Operating | Not verified | Coming soon |
| 9 | BTC Digital Manila (hosting) | Manila / Mississippi | Operating | Not verified | Coming soon |
| 10 | Project Pulse / DC Devco LLC | Gum Springs / Clark | Cancelled (tracker reports) | Not reported | Coming soon |
| 11 | Apollo Project (Stadium Partners, Garrison Data Partners) | Helena Harbor / Phillips | Cancelled (tracker reports) | 500 proposed | Coming soon |
| 12 | Ritter Data Technology Center | Jonesboro / Craighead | Operating colocation | ~0.75 (one directory) | Coming soon |
| 13 | TierPoint Little Rock | Little Rock / Pulaski | Operating colocation | Not verified | Coming soon |
| 14 | Bentaus / Chadbourn Infrastructure Partners | North of Texarkana / Miller | Announced; approval and build not verified | 200 planned | Coming soon |
| 15 | BlockOps Moreland (bitcoin mine) | Moreland / Pope | Operating (operator says) | Not disclosed | Coming soon |
| 16 | BlockOps Russellville (bitcoin mine) | Russellville / Pope | Operating (operator says) | Not disclosed | Coming soon |
| 17 | BlockOps Helena-West Helena | Former sawmill site / Phillips | Approved 2025; operating per operator | 8 available reported | Coming soon |
| 18 | Artemis Technologies Cave City | Outside Cave City / Sharp | Construction began Apr 2025; completion unverified | Withheld by company | Coming soon |
| 19 | Artemis Technologies Monticello | Monticello / Drew | Earlier location; current operation unverified | Not disclosed | Coming soon |
| 20 | Artemis Technologies Newark | Newark / Independence | Earlier location; current operation unverified | Not disclosed | Coming soon |
| 21 | Green Digital / Metahash Global Harrison mine | Boone | Application withdrawn (May 2023) | 10 contracted (Chamber) | Coming soon |
| 22 | Mainstream Technologies | Downtown Little Rock / Pulaski | Operating colocation and hosting | Not disclosed | Coming soon |
| NDA | Second Grant County proposal Highway 46 near Redfield, about 2,000 acres reported | Near Redfield / Grant | Reported; NDAs; developer name redacted | Not public | Unnamed · Coming soon |
A public directory lists 15 more legacy IT, university, and crypto sites. Those are directory leads, not verified new projects, and they are not used to fill Aterio's missing slots.
There are two documented reasons names are missing: Aterio sells its full list, and real negotiations often run through NDAs, project LLCs, and unnamed end users. In Grant County, a second proposal near Redfield came to light in October despite signed NDAs, with the developer's name redacted.
Steve's civic argument is that the secrecy itself is the problem. When a community can't see who is coming, what was promised, or who will own the power, it can't judge whether it is a partner. That is an argument about how deals are made. It is not an allegation of a crime or misconduct by anyone.
Who owns the generation?
Who pays for grid and water upgrades?
What education access and community benefit are in writing?
What happens if the customer leaves?
When someone asks something important through the hotline, we research it and post the answer here so everyone can read it. Names and identifying details are never published without permission.
The first answers will appear here once questions come in.
Grey Swan keeps a sourced, regularly updated record of every named Arkansas compute-campus project we can document: status, megawatts, power, deal terms, owners and tenants where public, and what is still not public. Journalists are welcome to use it for background and cite it. Link the facility page and the date updated. If a figure looks off, tell us. We correct from public records, not from rumor.
We do not invent unnamed facilities. We do not allege misconduct. When a name is missing, we say so and point to the public reason we can document (a commercial paywall, an NDA, or a project LLC with no parent named).
Media questions: use the Compute Campus Hotline and include your outlet, or reach us through greyswancapital.ai/contact.
New facility pages, explainers, and Public Answers land at greyswancapital.ai and on the Grey Swan Substack. Plain English, sources shown, room to change our minds when the facts do.