An unidentified holder is auctioning about $500 million in data center loans, according to BeInCrypto’s November 5 report citing Bloomberg. The sale was reported as AI-related stocks and broader US indexes fell sharply. It puts loans tied to data-center operators on the market, but does not show that the projects they finance will be cancelled or delayed.
The portfolio reportedly includes about a dozen loans tied to Vantage Data Centers and CyrusOne, including a $25 million slice connected to Project Jupiter in New Mexico. Bids are due November 19, with a reported minimum bid of $10 million. The holder had not been publicly identified as of November 5.
Data center loans auction timeline
- September 24, 2026: Oracle said Project Jupiter “remains on our planned schedule” after sending developer Stack Infrastructure a force-majeure notice. The Albuquerque Journal reported that Blue Owl said the notice did not change the project’s financial commitments.
- September 2026: BeInCrypto reported that the campus’s $18 billion in loans was quoted at 89 to 91 cents on the dollar amid lender concern.
- November 3, 2026: Democratic victories in the US midterm elections raised the prospect of government pauses on data-center construction, according to the Associated Press. The AP also reported that voters have objected to data centers’ effect on power bills.
- November 5, 2026: BeInCrypto reported the roughly $500 million auction as markets fell. The AP said the S&P 500 dropped 4.4%, the Dow fell 1,833 points, or 3.4%, and the Nasdaq fell 5.5%.
- November 19 and December 7, 2026: Bids are due November 19. A public hearing on Project Jupiter’s state air permit is scheduled for December 7, according to BeInCrypto’s report citing the Albuquerque Journal.
Why the loan sale matters
The auction may show how buyers value credit tied to the AI buildout, but it is not a measure of demand for AI services. If the loans sell at a discount, financing new data centers could become more expensive for developers, potentially affecting construction and demand for chips used in the facilities, BeInCrypto noted. The sale price had not been reported as of November 5.
Project Jupiter has drawn attention because it is part of Stargate, the AI infrastructure initiative involving OpenAI, Oracle and SoftBank. Bloomberg Law reported that about 20 banks provided an $18 billion construction loan for the New Mexico campus, designed for 2.45 gigawatts. The auctioned $25 million slice is only one part of that financing.
Oracle’s force-majeure notice is part of the project’s reported context, but does not establish that the campus has been cancelled or that its financial commitments changed. Oracle said the project remained on schedule, and Blue Owl said the notice did not alter the commitments, the Albuquerque Journal reported. The site’s air-permit hearing is scheduled for December 7.
The auction follows earlier efforts by banks to sell data-center loan exposure. BeInCrypto reported, citing the Financial Times, that JPMorgan, Morgan Stanley, Sumitomo Mitsui and MUFG sought to sell parts of their loans in May. JPMorgan and MUFG alone were trying to distribute $38 billion of one Oracle-linked deal, according to BeInCrypto. The current portfolio is smaller, and the available reporting does not say what price the seller expects.
Reactions across stocks and credit
AI-data-center-construction stocks led declines in a broad US market sell-off on November 5, according to the AP. The index moves provide market context, but available evidence does not show that the auction caused the declines or that planned facilities will be delayed.
| US market index | Change on November 5, 2026 |
|---|---|
| S&P 500 | Down 4.4% |
| Dow | Down 1,833 points, or 3.4% |
| Nasdaq | Down 5.5% |
BeInCrypto reported that high-risk bonds tied to CoreWeave and Galaxy Digital, a crypto firm that also builds data centers, were among Thursday’s biggest decliners. The seller’s identity and expected sale price were not reported.
For crypto readers, the connection is exposure to data-center infrastructure and credit-market sentiment, not evidence that the auction caused token-price moves. The available research does not establish a direct effect on crypto prices.
What to watch next
The November 19 bid deadline is the next reported milestone. If the portfolio sells, its price could indicate how buyers valued the loans. Bids were still upcoming in the November 5 reporting, so no sale price or winning bidder had been reported.
Project Jupiter’s December 7 air-permit hearing is another milestone. It could provide information about the permit process, but will not by itself resolve questions about financing, construction timing or Oracle’s contractual position. Oracle and Blue Owl described the project’s schedule and financial commitments, respectively, as unchanged following the notice, according to the Albuquerque Journal.
The distinction is between one holder offering a group of loans for sale and evidence of a broad retreat from AI infrastructure. The auction is notable because it bundles data-center loans during a sharp market downturn. Its eventual price, the permit process and the still-undisclosed seller’s identity are developments to follow.
FAQ
Who is selling the data center loans?
The holder had not been publicly identified as of November 5, 2026. Bloomberg described the seller as an unnamed holder, according to the reports in the evidence.
What does the data center loans portfolio include?
It contains about a dozen loans tied to operators including Vantage Data Centers and CyrusOne. BeInCrypto reported that a $25 million slice backs Project Jupiter in New Mexico.
When are bids due for the loan auction?
Bids are due November 19, 2026, with a reported minimum bid of $10 million. Project Jupiter’s public air-permit hearing is scheduled for December 7, according to BeInCrypto’s report citing the Albuquerque Journal.
Sources
- $500M Mystery Seller: Who’s Dumping Data-Center Loans After AI Stock Crash? (BeInCrypto)
- Mystery Seller Puts Up $500 Million Data Center Loans Backing Stargate, CyrusOne (www.zenguardterminal.com)
- $500M Mystery Seller: Who’s Dumping Data-Center Loans After AI Stock Crash? (coinpost365.com)
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.
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