Chinese tech firm Token Cat and US-based Better Now have announced that they will collaborate to develop and operate an artificial intelligence data center in New York.

The master service agreement marks a significant shift in strategy for Token Cat – formerly known as TuanChe – as it expands its overseas infrastructure footprint to capture the surging demand for AI computing power.

The project will see a multi-phase roll-out to build a 30MW data center, with the company already having secured access to 12MW of power capacity to serve as the foundation for the initial deployment.

Further details weren't shared.

“Our collaboration with Better Now represents meaningful progress in the company’s overseas infrastructure initiatives,” said Token Cat CEO Guangsheng Lio. “Leveraging our existing power resources, we intend to steadily advance the development of a 30MW-scale AI data center project while exploring long-term growth opportunities in a disciplined and compliant manner.”

Under the terms of the partnership with Better Now, Token Cat will oversee the overall project planning and funding arrangements, while the US firm will act as the local execution partner to help navigate regional regulatory requirements.

Token Cat is China’s leading automotive marketplace platform, having previously operated under the name TuanChe before rebranding earlier this year.

In 2024, the company announced that it was venturing into the cryptocurrency sector in an effort to diversify its business portfolio.

The company recently appointed blockchain expert Sav Persico as chief operating officer in order to accelerate its cryptomining strategy.

“The crypto asset industry is entering a critical stage of enterprise adoption and enterprise expansion,” he said in November, adding that Token Cat’s crypto asset strategy was aimed at creating “long-term growth potential through technology-driven and prudent asset management.”

Shortly after his appointment, Token Cat’s board approved a $1 billion crypto asset investment, despite the company only having a relatively modest market capitalization of around $25 million.

The initial allocation of its cash reserves will focus on emerging crypto tokens, with a particular focus on AI and RAW-to-chain initiatives.

Liu described it as “an important step in strengthening our asset strategy, while Persico said the crypto assets were viewed as “long-term value reserves, not speculative tools."