Squared Inc. to buy El Dorado data center owner Paradox Data, LLC | Arkansas Democrat Gazette

Squared Inc., a Florida-based digital information company, agreed to buy Paradox Data LLC and its El Dorado, Arkansas data center as part of an expanded acquisition plan announced earlier in June. The deal has evolved from a potential majority interest into a full acquisition, according to a Monday news release. Paradox Data’s main asset is the Union County campus at 713 Industrial Road. The site has an existing electricity agreement with Entergy Arkansas to supply up to 8 megawatts. Squared’s operations include crypto mining, data center development, and high-performance computer hosting. The transaction involves transferring Series A convertible preferred stock with no cash at closing and no debt financing. At closing, $5 million of Series A stock will convert to common shares at $7.45 each, with up to $20 million more tied to development milestones.