EdgeMode has acquired an infrastructure firm and plans to develop data centers across Spain.

It has penned a Memorandum of Understanding (MoU) with infrastructure investor Blackberry Alternative Investment Fund (AIF).

The merger would see Edgemode, which describes itself as an AI data infrastructure company, acquire BAIF’s assets in exchange for equity and investment capital, forming a “platform to support EdgeMode’s expansion in the high-performance computing data center sector across Europe.”

Under the terms of the MoU, EdgeMode will acquire 100 percent of BAIF, giving BAIF stakeholders 50 percent of the outstanding equity of EdgeMode.

BAIF’s assets include 23 data center development sites potentially totaling 4.41GW of capacity, of which more than 2.2GW have reportedly secured land leases, zoning approvals, and dark fiber access.

The combined company will target an initial 1GW ready-to-build (RTB) in Q4 2025, with a further 1.2GW targeted to be ready to build (RTB) by Q4 2027.

“This merger with Blackberry AIF accelerates EdgeMode’s transformation into a high-performance computing leader,” said Charlie Faulkner, EdgeMode CEO.

“By combining our infrastructure expertise with BAIF’s strategic assets, we are establishing a scalable platform with multi-gigawatt capacity and a clear path to substantial market value. This transaction positions EdgeMode to capitalize on the growing demand for AI-driven data infrastructure and unlock long-term value for our shareholders.”

OTC-listed EdgeMode was previously focused on cryptomining operations. Acquired by Fourth Wave Energy in 2022, the company had operations in New York and Illinois at the time. However, an SEC filing notes that the company “lacked the necessary funding to finance the purchase of Bitcoin mining hardware and hosting contracts,” and has since pivoted to targeting colocation services and high-performance computing hosting.

The company recently acquired Synthesis Analytics Production, giving it a 95MW power purchase agreement and a long-term lease on an in-development 20MW high-performance computing immersion-cooled data center in Marviken, Sweden, alongside freehold ownership of approximately 20,000 sqm (215,280 sq ft) of adjacent land.

Jose Mora, CEO of BlackBerry AIF, added: “This is a key partnership that brings global capital, execution capabilities, and public market access to our pipeline of next-generation AI data center assets. Together with EdgeMode, we aim to fast-track site development, attract hyperscale customers, drive investor confidence, and long-term value creation.”

Launched last year and unrelated to the phone brand of the same name, Blackberry AIF has previously announced plans for multiple developments in the Castilla-La Mancha region of Spain. Via its IberData Hub portfolio, the company aims to develop a 120MW data center in Córdoba, Andalusia; 100MW facilities in Vianos and Alcaraz, Albacete; and a 100MW facility in Toledo.

The company has previously announced plans for several smaller facilities: Hormigos, 5MW; Alberche, 18MW; Cuerva 5MW; Ardosa 6MW; Lobera, 14MW; Las Camaña 10MW; and Las Valeras 9MW.

Blackberry AIF has said its plans would require €10 billion ($11.7bn) in investment to reach 1GW of capacity within the next three years. EdgeMode said it expects “significant growth” and is “poised to attract substantial investor interest” in the coming years.

Blackberry AIF CEO Mora and COO Jose Monrobe are also part of investment firm Meinzer & Moray Investment, which has previously acquired a 500MW solar and battery storage portfolio in Spain.