Texas Pacific Land Corp. Announces Strategic Data Center Development Agreement and Equity Investment by HKAM

Summary

On December 17, 2025, Texas Pacific Land Corporation (TPL) announced a strategic agreement with Bolt Data & Energy, Inc. to develop large-scale data center campuses in West Texas. As part of the agreement, Bolt raised $150 million, with $50 million from TPL. TPL will receive equity, warrants, and a right of first refusal for water supply to Bolt projects. Additionally, Horizon Kinetics Asset Management LLC, a subsidiary of Horizon Kinetics Holding Corporation, intends to make a significant equity investment in Bolt. The Company and its Audit Committee have reviewed the proposed investment and taken steps to mitigate any potential conflicts of interest.