Entrex says 1,800 mobile data center units are under letter of intent

Entrex said Aug. 5 it has letters of intent for 1,800 mobile data center units across the U.S. and Canada as it pursues revenue-producing natural gas-powered computing assets. The company also said it has qualified a $20 million Reg A offering and is preparing a Tier 2 raise that could expand capacity to $75 million.

Why it matters: - Entrex is targeting operating data processing assets that already generate cash flow, rather than building new data centers over several years. - The strategy centers on natural gas-powered facilities at stranded or underutilized wells, where power costs are lower than prevailing grid rates. - The company is pairing acquisitions with capital-raising plans that could support larger deal flow and a possible national exchange uplisting.

What happened: - Entrex released its August 2026 Interested Party Update on Aug. 5, 2026. - The update said the company has letters of intent covering 1,800 mobile data center units in the United States and Canada. - Entrex said it is focused on acquiring revenue-producing and EBITDA-positive natural gas-powered data processing assets across North America. - CEO Stephen H. Watkins said, “We buy cash flow.”

The details: - Entrex said its acquisition standard targets recurring EBITDA at four times EBITDA. - Watkins said the company targets 25 cents of recurring annual EBITDA for every $1 of acquisition capital deployed. - The company said its model avoids the three- to five-year timeline often associated with permitting, utility interconnection and construction for conventional data center development. - Entrex said it acquires operating facilities where the power, computing and cash flow already exist. - The company said it has qualified a $20,000,000 Regulation A Tier 1 offering with the Securities and Exchange Commission. - Entrex said it is preparing a Tier 2 offering that would lift total capital-raising capacity to as much as $75,000,000. - The company said a PCAOB audit is in progress. - Entrex said it is advancing investment banking relationships tied to an institutional debt strategy and a possible national exchange uplisting. - Matthew J. Henderson, head of finance and strategy, said the company is now focused on execution and deploying capital to acquire recurring cash flow.

Between the lines: - The update shows Entrex is trying to present itself less as a developer and more as an acquirer of existing infrastructure with immediate revenue. - The letter-of-intent count signals pipeline scale, but those agreements are non-binding and may not close. - The capital-markets work suggests Entrex is trying to build the financing base needed to move from stated interest to completed acquisitions.

What's next: - Entrex said it will keep pursuing acquisitions of operating natural gas-powered data processing assets. - The company will continue work on the Tier 2 offering, PCAOB audit and banking relationships. - Any future progress will depend on completed acquisitions, financing execution and whether the non-binding letters of intent convert into transactions.

The bottom line: - Entrex is betting that buying existing cash-flowing data center assets will be faster and less risky than building new ones from scratch.