GlobeNewswire·Jun 30, 2026, 7:30 AM ET

Blockfusion and Blue Acquisition Corp. Announce LOIs for Anchor Lease with a Leading AI Customer and $175 Million Convertible Note Financing and Non-Redemption Agreement, and Advancement of Planned Expansion of Niagara Falls Campus

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Blockfusion USA, Inc. signed a non-binding letter of intent with a leading AI customer for up to 300 MW of critical IT capacity at its Niagara Falls, New York campus.
The agreement includes 85 MW of guaranteed take-or-pay capacity over a 15-year initial term, with two five-year renewal options.
Estimated aggregate lease revenue could reach approximately $2.8 billion over the initial 15-year term, or roughly $5.4 billion if both renewal options are exercised for a 25-year total term.
Blockfusion entered a non-binding term sheet for a $175 million private placement of convertible senior notes to be funded upon closing of the business combination with Blue Acquisition Corp.
A non-binding non-redemption agreement is expected for approximately $33 million of funds in Blue's trust account, involving Sona Asset Management.
The combined financing proceeds are intended to support the initial campus build-out, capitalization of the combined company, and transaction expenses.
An exclusivity agreement was secured with a landowner to support campus expansion beyond 300 MW of total critical IT capacity.
The proposed business combination will form a publicly traded entity named Blockfusion Digital Infrastructure, Inc. ("Pubco").
The convertible notes will be issued to qualified institutional buyers, with Sona Asset Management anchoring the financing.
The business combination remains subject to customary closing conditions, including shareholder approval and regulatory requirements.
Blockfusion positions itself as a scaled AI infrastructure platform leveraging low-cost, low-carbon hydroelectric power in Niagara Falls.
All commercial, financing, and expansion agreements are non-binding and subject to definitive documentation and due diligence.