Uniserve Targets 1 MW at Vancouver VAN-2 Data Centre in Q4 2026
Uniserve's 10,000 sq ft VAN-2 site in Vancouver is due at 1 MW in Q4 2026 with a second megawatt later, against the 2 MW first announced in 2025; BC Hydro has committed up to 3 MW of utility power by 2028.
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Targets from Uniserve's Oct. 21, 2026 release. The company has not said whether the 1 MW is critical IT load or utility power.
Illustration (AI-generated)
Uniserve Communications Corporation (TSXV: COMP) said on October 21, 2026 it is targeting 1 MW of initial operating capacity in Q4 2026 at VAN-2, its new data centre at 369 Terminal Avenue in Vancouver.
In a news release distributed by Newsfile Corp., the company described VAN-2 as a roughly 10,000-square-foot site aimed at enterprise computing, cloud, colocation and AI workloads, with a second megawatt available for later expansion. Planned features include a Tier III design with redundant power and cooling, racks of up to 30 kW, and carrier-neutral access to several network providers. Uniserve's shares have traded as COMP since October 13, replacing USS, according to its October 8 and October 13 releases.
For capacity planners, VAN-2 is a small Canadian-owned site built for colocation and AI-related workloads, not a hyperscale campus. At the 30 kW per rack ceiling, 1 MW would feed about 33 racks, a plain division that ignores cooling overhead and assumes the 1 MW is IT load, which Uniserve has not said. For scale, Crusoe's Spark Liquid modular unit is rated at up to 3.5 MW, as Voltgrid reported, 3.5 times VAN-2's opening figure, though the two numbers may not share a measurement basis.
How the plan has changed since 2025
Uniserve first described the site on September 3, 2025, when it signed an offer to lease 10,000 square feet at 369 Terminal Avenue to build a 2 MW facility on a total budget of $12 million, with the first phase estimated at about $6.5 million. Its September 15, 2025 lease release spoke of 2 MW of initial capacity. The October 2026 release gives 1 MW at opening and an additional megawatt for future expansion, which adds up to the same 2 MW but defers half of it without a date.
Timing has also moved. On March 4, 2026, Uniserve said phase 1 of a two-phase buildout was on schedule to be operational by September 2026, and that BC Hydro had committed to upgrade the site's distribution infrastructure to provide up to 3 MW of utility power by 2028 for phase two. The October release gives Q4 2026 for initial operating capacity. It does not say whether that is the same milestone as phase 1, or why the date differs.
The October 2026 release gives 1 MW at opening and a second MW later, where the September 2025 lease release cited 2 MW of initial capacity. Uniserve has not said whether 1 MW is IT load or utility power.
Illustration (AI-generated)
The landlord is also the lender
On August 12, 2026, Uniserve said it had closed a $1.8 million loan from 369 Terminal Holdings Ltd., the landlord named in the 2025 lease releases. The loan carries 7% interest and is due on August 12, 2028. Uniserve said it would use the proceeds to complete the data centre buildout at 369 Terminal Avenue and for general corporate purposes, described the lender as an insider holding more than 10% of its shares, and said it issued 2,500,000 bonus warrants. None of Uniserve's 2025 or 2026 releases labels the currency of its dollar figures.
What is not confirmed yet
Uniserve has not named an anchor tenant for VAN-2, said whether the 1 MW is critical IT load or utility power, or given a GPU count or cooling design. The only compute contract it has disclosed, dated September 29, 2026, covers two NVIDIA B300 GPU-based servers at "Uniserve's Vancouver data centre" for a five-year service period worth about US$3.15 million at the minimum rate, with activation expected before year end. That release does not say whether the servers will sit in VAN-2. The company plans quarterly CEO town hall calls, with the first date still to be announced. As of October 25, its newsroom lists no release after October 21.
