Blockfusion announces AI lease LOI and financing terms

Blockfusion USA, Inc. and Blue Acquisition Corp. have announced a non-binding anchor lease LOI, proposed convertible note financing, and a planned campus expansion related to their business combination.

• Blockfusion signed a non-binding LOI with a leading AI customer for up to 300 MW of critical IT capacity at its Niagara Falls, New York campus, anchored by 85 MW of take-or-pay capacity over an initial 15-year term with two five-year renewal options.
• The company said the potential aggregate lease revenue could be about $2.8 billion over 15 years, or about $5.4 billion over 25 years if renewals are exercised; Blockfusion also entered an exclusivity agreement for campus expansion and discussed a proposed $175 million convertible note private placement and a non-redemption agreement tied to Blue’s trust account.