⚠ Location approximate — 9950 SR-13 SE, Perry County OH. Verify with Perry County Auditor / GIS before any action.
Ground Lease & Assignment Chain
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Landlord
CCU Coal & Construction LLC
→
Original Tenant
Verakari, LLC
→
Assignee (May 2023)
Mawson Ohio, LLC
Agreement Type
Agreement to Assign Ground Lease + Assignment & Assumption of Ground Lease
Effective Date
May 1, 2023
Original Ground Lease
April 30, 2022 (Verakari LLC as tenant; CCU Coal & Construction LLC as landlord)
Property
Perry County, Ohio (SR-13 SE corridor)
Assignor
Verakari, LLC (Wyoming LLC) — 2000 Axemann Road, Suite 320, Bellefonte, PA 16823
Assignee
Mawson Ohio, LLC (Delaware LLC) — 201 Clark St, Sharon, PA 16146
Assignment Payment
$250,000 total ($200K on delivery + $50K within 14 days)
Energization Payment
$100,000 (due at energization or 3 months, whichever first)
Total Consideration
$350,000 (Assignment $250K + Energization $100K)
Mawson CEO
James Manning — notices@mawsoninc.com
Governing Law
State of Ohio
Dispute Resolution
AAA Arbitration (one arbitrator by mutual agreement)
Verakari Ongoing Support
For 24 months after May 1, 2023 (through ~May 2025), Verakari was required to assist Mawson with full benefits of the Premises, including the power seat and meter. This 24-month support period has now expired.
Further Assignment
Further assignment requires written consent of non-assigning party (i.e., Verakari consent needed if Mawson assigns to a BDE successor entity). Confirm if any inter-company assignment from Mawson Ohio LLC to a BDE entity has been documented and consented to.
Power Access
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Utility / Provider
Ohio Power Company (AEP Ohio) — Letter of Agreement (LOA) executed 8/12/2024 and Electric Service Agreement (ESA) with Mawson Ohio LLC, service commenced 8/16/2024
Nearest Substation
Customer-owned substation on-site, 9950 State Route 13 SE, Glouster, Ohio 45732 — AEP delivers 138kV transmission service to dead-end insulators on customer's receiving structure inside this substation (meter located inside fence on west side)
Distance to Substation
On-site — customer-owned substation
Available / Interconnect Capacity
24 MW Full Operating Capacity (24,000 kW contract capacity per ESA); existing metering sufficient for 24MW load on interim basis pending new metering install
Interconnection Voltage
~138,000 volts, 4-wire, 3-phase, AEP 138kV transmission service to existing customer-owned station
Interconnect Queue Status
Active/operational — LOA executed 8/12/2024 ("Spencer Ridge SW LOA for 24MW New Service"), CIAC Payment: $0; ESA service commenced 8/16/2024
Site / Lease Details
Site is leased under a Ground Lease Agreement (Memorandum recorded), originally between CCU Coal and Construction, LLC (Landlord, Perry County, OH landowner) and Verakari, LLC (4/30/2022), assigned to and amended with Mawson Ohio, LLC (Tenant) effective 5/1/2023. Term runs through 4/30/2027 with a 5-year renewal option (to 2032) and a right of first refusal to purchase the Property.
Notes
Both the AEP 138kV/24MW interconnection (LOA + ESA, contract capacity 24,000 kW) and the underlying Ground Lease are held by Mawson Ohio LLC (Mawson Infrastructure Group) at 9950 State Route 13 SE, Glouster, OH. Any BDE acquisition would need AEP's consent to assign the ESA/LOA and CCU Coal & Construction's consent to assign the Ground Lease, consistent with the pattern at other Mawson-operated sites (Midland PA, Bellefonte PA). A Non-Binding LOI for Corning, Ohio (dated 3/6/2026) is also in the data room and not yet reviewed in detail.
Key Flags & Risks
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Ground Lease Expiry Unknown — Pull Full Lease from Data Room
The ground lease was originally dated April 30, 2022. The assignment agreement references the lease term but the actual expiry date and renewal options are in the full ground lease document — not the assignment agreement. Pull the original CCU Coal ground lease to confirm term, expiry, and renewal options.Further Assignment Requires Verakari Consent
Any further assignment of the lease (e.g., from Mawson Ohio LLC to a BDE successor) requires Verakari's written consent. Confirm whether BDE has formally assumed this lease from Mawson and whether Verakari consent was obtained.Prior Use — Coal / Mining Site (CCU Coal & Construction)
Landlord is CCU Coal and Construction LLC (Ohio LLC). The site is in Perry County, Ohio — a historically active coal-mining area. Confirm any environmental liabilities, reclamation obligations, or surface mining restrictions that could affect the 24 MW facility operations.Verakari & Mawson Both Share Bellefonte PA Address
Verakari LLC (assignor) is at 2000 Axemann Road, Bellefonte PA — the same road as BDE-010 Bellefonte (2020 Axemann Rd). These entities appear to be related or co-located. Understand the ownership/control relationship between Verakari, Mawson Ohio, Mawson Bellefonte, and BDE/BGDE.
Recommended Next Actions
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1
Pull original CCU Coal ground lease from data room — confirm term, expiry, and renewal options
The assignment agreement references the April 30, 2022 ground lease but does not include its full terms. The lease expiry date and renewal mechanics are critical to understand the site's future beyond the current term.
2
Confirm BDE's formal relationship with Mawson Ohio, LLC
BGDE Public holds this site through Mawson Ohio LLC. Confirm whether BDE/BGDE has formally assumed or controls this entity, and whether any inter-company assignment has been executed and consented to by Verakari per the agreement terms.
3
Environmental assessment — prior coal site in Perry County, OH
CCU Coal and Construction LLC is the landlord on a Perry County coal-area property. Confirm no active reclamation obligations, ODNR permits, or environmental liabilities that could restrict BDE's 24 MW facility. Perry County ODNR: (740) 342-1652.
4
Confirm power seat and meter status at the Premises
Verakari's 24-month support obligation (power seat + meter) expired ~May 2025. Confirm the power seat/meter has been transferred to Mawson Ohio / BDE and is in good standing for 24 MW operations.
5
Contact CCU Coal & Construction LLC to build direct landlord relationship
The current landlord relationship is with Verakari (original tenant) and Mawson Ohio (assignee). BDE should establish direct contact with CCU Coal & Construction (Ohio LLC) to confirm BDE's standing and discuss any future lease renewal or expansion. Look up current contact via Ohio Secretary of State.
Parties & Contacts
Mawson Ohio, LLC
Lease Assignee
RoleGround lease assignee — BGDE Public vehicle
StateDelaware LLC
Address201 Clark Street, Sharon, PA 16146
CEOJames Manning
Emailnotices@mawsoninc.com
AssignmentMay 1, 2023 from Verakari LLC
ACTIVE LESSEE
CCU Coal & Construction, LLC
Landlord
RoleLandlord — holds underlying fee interest; ground lease dated Apr 30, 2022
StateOhio LLC
PropertyPerry County, Ohio (9950 SR-13 SE area)
NotesCoal / construction background. Look up current contact via Ohio SOS. Build direct landlord relationship.
LANDLORD
Verakari, LLC
Prior Tenant / Assignor
RoleOriginal tenant; assigned to Mawson Ohio May 2023
StateWyoming LLC
Address2000 Axemann Road, Suite 320, Bellefonte, PA 16823
Consent RequiredFurther assignment of lease requires Verakari written consent
Support Period24-month support obligation expired ~May 2025
PRIOR TENANT