3.7 GHz spectrum auction tops $80 billion

The FCC's Aution 107 for flexible‐use overlay licenses for spectrum in the 3.7–3.98 GHz band concluded with a record $80.9 billion in bids after 97 rounds.

The auction made available licenses for 280 megahertz of spectrum in the the so-called C-band.  FCC Chairman Ajit Pai made the following statement:

“This historic FCC auction is already a record-breaking success.  Bidders have won all of the 5,684 spectrum blocks that were up for bid.  And gross proceeds have exceeded $80.9 billion, shattering the prior FCC auction record of $44.9 billion.  

“These results represent a strong endorsement by the private sector of the service rules and transition plan put in place by the FCC to quickly make the C-band a critical part of 5G rollout in the United States.  And they vindicate the hard choices the FCC made during the C-band proceeding—and that we made them.  The FCC confronted a host of technical, legal, practical, and political challenges in structuring this auction.  It would have been easy to delay.  But we rightly pushed ahead and overcame every one of those obstacles.  As a result, we significantly advanced United States leadership in 5G and have enabled America’s wireless consumers to more quickly benefit from 5G services.  

Winning bidders will now have the opportunity to bid for frequency-specific licenses in the assignment phase of Auction 107. 

https://www.fcc.gov/document/first-phase-record-breaking-5g-spectrum-auction-concludes