Blockfusion, a data center operator focused on clean energy–powered infrastructure, plans to go public through a business combination with Blue Acquisition Corp., a Nasdaq-listed SPAC. The deal assigns Blockfusion an implied pre-money enterprise value of $480 million and includes the issuance of $450 million in new securities to existing shareholders at closing.
Blockfusion operates a Niagara Falls, New York facility with 46 MW of energized capacity and intends to expand the site to more than 100 MW of Tier 3 infrastructure configured for high-density AI and HPC workloads. The company’s location sits on a cross-border power and fiber corridor, offering low-latency routes to Toronto, New York, and Boston and access to clean power through NYISO Zone A.
Blockfusion plans to use the public-market transaction and additional financing—expected to include a PIPE—to raise roughly $200 million before expenses, supporting its transition into a next-generation AI data-center platform. The expansion program, developed with firms including Gensler, JB&B, and Thornton Tomasetti, targets power densities of up to 200 kW per rack.
Leadership from both companies highlighted the time-to-market advantages of upgrading an already energized site over new construction. The boards of Blockfusion and Blue Acquisition have approved the deal, which is expected to close in the first half of 2026, subject to shareholder approvals and customary conditions. Upon completion, the combined company will operate as Blockfusion Data Centers, Inc. and list on Nasdaq.
