en.Wedoany.com Reported - Data center company EdgeMode recently announced plans to sell its leased land interests in Córdoba, Palma del Río (Córdoba), Vianos (Albacete), and Cáceres, Spain, to Pure Data Centers Group, while also signing a non-binding offer with Spark AI Foundry Holdings LLC for its data center campus in Toledo.
According to the non-binding term sheet signed between EdgeMode and Pure Data Centers Group, Pure has a 60-day exclusive negotiation period to sign a binding agreement. Upon execution of the agreement, Pure will pay €1.5 million (approximately $1.7 million) per selected site, with an additional payment of the same amount once the site reaches "shovel-ready" status, plus €325,000 (approximately $372,000) per megawatt of leased IT capacity. As reported by Expansión, once the projects obtain administrative approvals, energy permits, and capacity lease agreements with hyperscale operators, Pure will acquire the companies developing these projects. The total power capacity of the Córdoba and Palma sites alone could reach 1.5GW upon full completion.
Founded in 2015 and backed by funds managed by Oaktree Capital Management, Pure currently operates or has over 1GW of IT capacity under development across Europe, Asia, and the Middle East. The company entered the Spanish market for the first time in 2024, purchasing land in the Meco area of Madrid from European real estate private equity manager ActivumSG, and is currently developing the 70MW MAD01 project.
OTC-listed EdgeMode, previously focused on cryptocurrency mining, is now pivoting to AI-centric facilities. The company entered Spain last year after forming a joint venture with Blackberry Alternative Investment Fund (AIF) and holds multiple planned data center development sites in the country. EdgeMode controls seven land parcels across various locations in Spain through leasehold interests, many of which plan to use Bloom's natural gas solid oxide fuel cells instead of grid connections. Among the five sites in the joint venture with AIF, each can deploy up to 360MW of fuel cell capacity, totaling 1.8GW.
EdgeMode has signed a non-binding offer with Spark AI Foundry Holdings LLC for a 300MW IT data center campus in the municipality of Mora, Toledo. Once the project reaches "shovel-ready" status, Spark AI will acquire 100% equity of the project's special purpose vehicle, DC Estate Malpica, S.L. The project spans 105 hectares and is expected to reach shovel-ready status in Q4 2026 or Q1 2027. EdgeMode stated it may develop up to 60MW of rooftop solar power, but the primary power source will rely on natural gas pipelines.
The transaction is valued at €1 million (approximately $1.1 million) per megawatt of IT capacity, totaling around €300 million (approximately $343 million). EdgeMode CEO Charlie Faulkner stated that the non-binding offer with Spark AI Foundry Holdings is a key milestone in the company's strategy to rapidly build next-generation infrastructure. By adopting innovative off-grid power generation methods, the company has successfully bypassed the capacity and infrastructure constraints faced by traditional hubs. The project is progressing quickly to meet the scale and reliability required by today's intensive computing environments.
Little is known about Spark AI Foundry, which appears to be associated with the Hedmark Holdings family office. Its website indicates the company is developing a network of 20 AI sites in North America, with known plans for projects in Loveland, Colorado; Olathe, Kansas; and Lansing, Michigan. UK data center company Deep Green is listed as a partner.
EdgeMode is also acquiring Spanish energy company Ibersun to gain access to its battery energy storage system projects, land, and grid connection rights, enabling the development of data centers and energy storage projects in Spain. The transaction will see EdgeMode acquire a 51% stake in Ibersun for $7.2 million.
