QTS data centers, owned by Blackstone, has walked away from plans to build a 2,100 acre data center in Virginia following years of local opposition.

The developers estimate about $100 billion in spending has been lost.

If AI demand can’t be met with new data centers, token prices go up. This is good news for locals and bad news for AI adoption.

https://www.reuters.com/business/blackstones-qts-terminates-digital-gateway-data-center-project-virginia-2026-07-02/