Related Digital Cheyenne

FJI source-qualified: four-document gate met, including project-specific government evidence. Qualification evidence and decisions →

Published and source reviewed October 18, 2026

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The Project

Related Digital is building a leased AI data center campus for CoreWeave in Cheyenne. State records and independent site reporting support a construction-stage classification. The first building’s late-2026 completion remains a forecast.

Capacity and Investment

Clayco describes 88 MW of planned critical IT in phase one, within a campus planned for up to 302 MW of IT load. Related’s current page also uses 420 MW without explaining the capacity basis. The figures cannot yet be reconciled. Its $1.2 billion first-phase investment is an announced amount, with paid spending unverified.

Company Roles

Related Digital is the developer, CoreWeave the first-phase tenant, Clayco the construction manager and Black Hills Energy the initial electricity provider. Project-specific financing, ownership shares and commercial terms remain unclear.

What Comes Next

Dated first-phase completion, CoreWeave acceptance and verified electrical/computing service.

Location and Evidence Limits

Campus coordinates unverified; no map marker. Cheyenne Business Parkway location is source-confirmed. Exact parcel ownership and campus coordinates, permit conditions, commissioned IT load, tenant acceptance, paid capital, project financing and lease economics remain unverified. The 420 MW capacity basis remains unresolved. No actual operating-power or spending total is established.

CoreWeave (NASDAQ: CRWV) · Black Hills Corporation (NYSE: BKH)

Sources and Claim Boundaries

1. Wyoming Business Council / Wyoming Legislature

   Wyoming Business Council records construction in Cheyenne Business Parkway and 2025 data-center sales-tax-exemption eligibility. Its May 2026 catalog describes a 115-acre campus and a first 184,000-square-foot building, with completion forecast for late 2026.

   Printed page 9; PDF page index 8, lines 233–237; 2026-05

2. City of Cheyenne

   The mayor’s June 12, 2026 account describes a visit to the construction site, including cooling, electrical and fire-protection equipment. It does not report commissioning or tenant acceptance.

   Paragraph beginning Related Digital invited; lines 41–43; 2026-06-12

3. Related Digital

   Related’s October 7, 2025 groundbreaking announcement names CoreWeave as tenant under a long-term lease for the first phase and Black Hills Energy as its initial electric-service provider. Related Digital was founded by privately owned Related Companies.

   Opening paragraphs and partner roles; lines 31–44; 2025-10-07

4. Clayco

   Clayco identifies its construction-manager role, 88 MW of planned critical IT capacity in the initial phase, and up to 302 MW of campus IT load. The first-phase parcel covers 36 acres. The phase is part of the campus total.

   Project description, lines 85–98; Undated

5. Related Digital

   Related’s undated current overview describes the first phase as under construction, with $1.2 billion of announced investment. It separately advertises up to 420 MW of capacity without specifying its basis or reconciling the earlier IT figure.

   Project Overview; lines 29–30; Undated

6. Cowboy State Daily / Renée Jean

   Cowboy State Daily’s June 14 site-tour report independently documents ongoing work and the late-2026 target. It attributes a commitment of more than $20 million for a transformer and substation expansion to Related’s CEO; actual payments are not established.

   Site-tour account; lines 20–26, 48–60 and 130–145; 2026-06-14

Source-based research; no original site visit or independent engineering verification. Construction evidence is distinct from operating acceptance.

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