SecondBloom Auctions announced Nov. 10 that it is expanding into data centers, offering auction, sealed-bid and whole-facility sales of data center infrastructure for secured lenders, private credit funds, developers, operators, receivers and bankruptcy trustees.
At least $260 billion of data center investment was canceled after local opposition in 2026 through early October, including about $130 billion in the third quarter alone, according to Heatmap Pro data reported by Heatmap News.
On Nov. 3, voters sided with limiting data center development in all but one of 41 local data center measures on ballots in 10 states, according to Ballotpedia.
ING is seeking buyers for a portfolio of 12 data center loans worth about $500 million, with bids due Nov. 19, Bloomberg reported. The portfolio includes a $25 million slice of the Stargate campus in New Mexico, the AI venture backed by OpenAI, SoftBank and Oracle. DatacenterDynamics called it the first sale of its kind at that scale made up entirely of data center debt. The Financial Times reported earlier this year that JPMorgan Chase and Morgan Stanley were exploring sales of data center construction debt to non-bank lenders.
“Every canceled data center leaves behind a power plant’s worth of equipment that somebody already paid for,” Blake Lange, co-founder and managing partner of SecondBloom Auctions, said. “Generators, switchgear and chillers are sitting in yards and half-built shells while the loans behind them come due. A data center runs on the same power and cooling backbone as the indoor farms we have been liquidating, and the people holding that equipment need a fast, transparent sale, not a fire sale.”
Medium-voltage switchgear that shipped in about 24 weeks before the pandemic now takes 52 to 80 weeks, according to procurement data published by Terrapin Construction Group. Bloomberg has reported, citing Sightline Climate, that 30 to 50 percent of planned 2026 U.S. data center capacity could slip or be canceled because transformers, switchgear and related gear cannot be delivered on time.
“The equipment doesn’t know the project got canceled,” Lange said. “A two-megawatt generator that was headed for a data hall works just as well at a hospital, a factory or the next data center down the road, and the buyer skips a year-long lead time.”
SecondBloom has sold this kind of infrastructure out of failed and closing indoor farms. The firm ran the liquidation of Bowery Farming’s $70 million vertical farm in Locust Grove, GA, in November 2025, and a 500-plus-lot sale for Eden Green Technology in Cleburne, TX, on behalf of its secured lender, which closed in April. It is currently offering the Planted Detroit campus by sealed bid.
