Fiber firm Cogent added seven Edge data centers and around 3MW to its portfolio in the second quarter of 2025. The company has been converting former Sprint switch sites acquired from T-Mobile.

Announced as part of the company’s Q2 2025 earnings results this month, Cogent now has 86 Edge data centers and 101 core data centers. In total, Cogent operates 187 facilities with 2.1+ million square feet (195,000 sqm), 26,100 server cabinets, and 214MW owned.

Details on the individual Edge sites weren't shared. Cogent CEO Dave Schaeffer has previously said the Edge sites “typically support about 40 racks” with around 350kW of power.

In Q1 2025, the company operated 79 Edge facilities; its overall footprint totaled 211MW. The number of core data centers has remained unchanged since the previous quarter.

Cogent still looking for wholesale buyer for data centers

T-Mobile sold its wireline business to Cogent for just $1 in September 2022. Much of the business sold was Sprint‘s legacy US long-haul fiber network, which T-Mobile had acquired as part of its $26 billion merger with Sprint in 2020.

Cogent’s acquisition included hundreds of technical buildings and switch sites previously used for Sprint’s wireline business – and Cogent has since set about converting the largest 48 into colocation data centers (since updated to 52). Last year, it also jumped into the Edge market, converting a further 55 smaller sites into colocation facilities and another 24 in Q1 2025.

During the earnings call this month, Cogent CEO Schaeffer noted that Cogent has “continued the reconfiguration of Sprint facilities and added them to our data center footprint.”

It’s unclear how many further Sprint sites are set to be added to Cogent’s Edge portfolio.

After originally only looking to offer retail colo space at each site, Cogent pivoted to also offering 23 of the former Sprint properties on a wholesale basis – since revised to 24. The company is looking at either leasing the sites wholesale or selling them outright (and potentially leasing back a small part for its own network needs).

Last quarter, Schaeffer said the company had received four letters of intent from potential buyers, and said this month negotiations are still ongoing.

“We continue to negotiate with the four initial parties that put in offers and have actually received two more offers,” he said. So we actually have a set of six total LOIs for firm offers on facilities. They range from the entire portfolio to as few as one facility. We have offers ranging from our full ask price to a fraction of the price.”

However, the sales process seems to be dragging.

“We have, I think, been a bit concerned that some of the counterparties have been unable to post meaningful non-refundable security deposits as they move from letter of intent to contract,” Schaeffer added. “I think it is premature for us to conclude that we have to adjust pricing. We will ultimately let the market decide the pricing.”

He noted the operators that have LOIs in place seem to be “struggling to get capital committed,” and other offers with what he called “de minimis deposits” relative to the size of the portfolio, he said, were unacceptable to go to contract.

Cogent’s revenue for the quarter was $246.2 million, a sequential decline of $800,000. Earnings before interest, taxes, depreciation, and amortization (EBITDA), was $48.5m; Adjusted EBITDA was $73.5m for the quarter, an increase of 6.9 percent. GAAP gross profit decreased by 0.3 percent from the previous quarter to $33.5m.

The company’s capital spending for the first half of 2025 was $114.3m -- $56.2m coming in Q2.

DCD recently sat down with Cogent CEO Dave Schaeffer to discuss the company’s repurposing of legacy Sprint switch sites. Read it here.