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FT. LAUDERDALE, Fla. - EdgeMode Inc. (OTC:EDGM) announced Monday it has signed a Memorandum of Understanding to merge with BlackBerry AIF (BAIF), creating a combined entity that will control 4.4 gigawatts of hyperscale-ready data center capacity across Spain and Europe. The announcement comes as EdgeMode’s stock has seen remarkable growth, with InvestingPro data showing a 1,800% return over the past year and a 26.67% gain in the last six months.
Under the agreement, EdgeMode will acquire 100% of BAIF’s issued share capital, with BAIF stakeholders receiving 50% of EdgeMode’s outstanding equity upon closing. The combined company’s assets are expected to increase by over $140 million. While EdgeMode reported negative EBITDA of $23.17 million in its latest reporting period, InvestingPro analysis indicates the company maintains strong liquidity with assets exceeding short-term obligations. Get deeper insights and 6 additional ProTips with an InvestingPro subscription.
The merger will give EdgeMode control of 23 data center development sites, with 1 gigawatt ready to build in Q4 2025 and an additional 1.2 megawatts targeted to be ready by Q4 2027. Over 2.2 gigawatts of the pipeline have secured land leases, zoning approvals, and dark fiber access.
"This merger with Blackberry AIF accelerates EdgeMode’s transformation into a high-performance computing leader," said Charlie Faulkner, Chief Executive Officer of EdgeMode, according to the press release.
Jose Mora, CEO of BlackBerry AIF, stated the partnership "brings global capital, execution capabilities, and public market access to our pipeline of next-generation AI data center assets."
The companies have begun a 45-day due diligence period to finalize a definitive merger agreement. The MOU provides for collaborative governance and shared management oversight.
EdgeMode is currently developing its flagship campus in Marviken, Sweden, where it has secured a 95MW power purchase agreement and started construction on a 20MW facility.
The high-performance computing market is estimated at approximately $54 billion in 2024 and expected to reach $110 billion by 2032, according to data cited in the company’s statement. For investors looking to capitalize on this growing sector, InvestingPro offers comprehensive analysis and real-time metrics to make informed investment decisions.
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