Pagaya Technologies Ltd, a prominent software solution provider specializing in online lending, auto finance, student loans, and credit card loans, has recently provided an update on its Dongara Data Centre Project. The company, headquartered in Tel-Aviv, Israel, primarily serves clients in the United States and is listed on the Nasdaq with a market capitalization of approximately $900.36 million USD.
The update highlights the arrival of the first modular data centre unit, a 1-MW module, at Pagaya’s Cliff Head onshore facility. This module was shipped from Shenzhen, China, marking a significant milestone in the project’s development. Construction of the concrete foundation for the module is currently underway, with completion expected by the end of March 2026. Additionally, the electrical connections to the existing gas-fired generators are progressing and are projected to be finished by late March.
Upon completion of these tasks, the data centre module is slated for commissioning and operation in early April 2026. The facility will be powered by Pagaya’s existing 4.4-MW gas generators and will connect to international networks via a satellite link. This development is part of Pagaya’s broader strategy to diversify its energy portfolio and explore new revenue streams through high-performance computing infrastructure.
The Dongara Data Centre Project is being carried out in partnership with Kala Data FZCO, reflecting Pagaya’s commitment to expanding its technological capabilities and infrastructure. This initiative aligns with the company’s strategic goals and underscores its efforts to enhance its service offerings and operational efficiency.
As of March 12, 2026, Pagaya Technologies Ltd’s close price stood at $10.96 USD, with a 52-week high of $44.99 on September 17, 2025, and a 52-week low of $8.50 on April 3, 2025. The company’s price-to-earnings ratio is currently 12.14, indicating its market valuation relative to its earnings.
