1606 Corp Signs Agreement to Acquire Data Center-Ready Property with Captive Power on 132 Acres
PHOENIX, March 17, 2026 (GLOBE NEWSWIRE) — 1606 Corp. (OTC: CBDW) announced that it has executed a Purchase and Sale Agreement to acquire a 132-acre property in Lufkin, Texas that includes an existing power generation facility and infrastructure suitable for large-scale data center development.
The property includes approximately 132 acres of land along with improvements, equipment, and associated development rights, making it well positioned for the deployment of data center infrastructure supported by on-site power generation. The property also includes a 50,000-square-foot warehouse designed to support rapid deployment of data center infrastructure, making the site immediately attractive to potential data center operators.
Under the terms of the agreement, the total purchase price for the property is approximately $11.2 million, consisting of cash consideration at closing and the assumption of an existing lien associated with the facility. In the most recent CBRE report the power generation asset was valued at $164 Million dollars.
1606 Corp. has executed the agreement and has made a substantial earnest money deposit in connection with the transaction as the company advances toward closing. The Company has already received initial inbound interest from data center operators regarding potential power supply and facility lease arrangements at the property. Management believes the site’s combination of acreage, infrastructure, and power availability makes it well suited for high-density computing and data center development.
Austen Lambrecht, CEO of 1606 Corp, said:
This acquisition represents an important step in our strategy to secure power-backed infrastructure suitable for next-generation data center deployment,
“Properties with large acreage and existing power infrastructure are increasingly difficult to secure. We believe this asset provides a strong foundation for future development and strategic partnerships.”
The site includes land, improvements, equipment, permits, and associated development rights tied to the property, which the Company believes creates a unique platform for power-intensive applications such as data centers and digital infrastructure.
The transaction is expected to close April 15th following completion of customary closing conditions and due diligence.
1606 Corp. is currently in advanced negotiations to acquire Sim Agro Inc., a privately held power-plant operations and energy infrastructure company with extensive international experience in high-efficiency energy generation projects. The Company expects the transaction to close shortly. Following completion of the acquisition, Sim Agro is expected to operate the power generation facility associated with the Company’s recently announced power and data infrastructure platform.
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1606 Corp Signs Agreement to Acquire Data Center-Ready Property with Captive Power on 132 Acres, source
