Ethtry (AQSE:ETHY) announced it has completed the acquisition of the remaining 10% membership interest in McKean Natural Gas Company for $300,000 in cash, taking the AQSE-listed company's ownership of McKean to 100%.
McKean holds deep gas rights over approximately 1,383 acres in Potter County, Pennsylvania, spanning the Marcellus and Utica/Point Pleasant formations.
The minority stake had been held by an Australian superannuation fund investor since March 2026, subject to a call option that Ethtry has now exercised and completed through its subsidiary, Ethtry USA Inc.
The deal follows Ethtry's acquisition of Dunbar Energy, completed earlier in October, which brought an exclusive letter of intent on the ROG project, a 104-acre data-centre site option under the PTAL project, an option over the ACT project, and the original majority interest in McKean's gas rights, as part of a US data-centre and energy development platform.
Existing gas pipeline infrastructure, which is third-party owned but over which the group holds an option acquired through the Dunbar deal, connects the McKean acreage to the site of Ethtry's planned Pennsylvania behind-the-meter data centre.
The company intends to integrate the gas rights with on-site power generation to supply electricity directly to the data centre, aiming to reduce reliance on grid-supplied power and improve control over energy cost and availability.
"Our ambition is to connect gas from our deep gas rights with on-site electricity generation, creating a platform designed to give customers greater certainty over power supply and cost," said Mike Murphy, Ethtry's executive chairman.
McKean's gas rights remain subject to secured notes with an aggregate redemption amount of approximately $1.7 million, repayable by 14 February 2027 in cash or, at the noteholder's election, in Ethtry shares.
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The minority investor's security over its former 10% interest has been released on completion, though the noteholders' security over the gas rights continues.
Commercial delivery of the gas-to-power model remains subject to technical and economic assessment, funding, permits and approvals, and the finalisation of pipeline access and production infrastructure; ownership of the gas rights alone does not establish recoverable reserves or production capacity.
Alongside the Pennsylvania platform, Ethtry continues to develop three UK solar sites with combined initial capacity of at least 15MW and maintains an Ethereum treasury under its Cryptoassets Treasury Policy, which stood at 1,000 ETH as of June.