BlackBerry AIF, EdgeMode to develop AI data center portfolio in Spain

EdgeMode executed a definitive agreement with Blackberry (BB) AIF to acquire and develop a portfolio of five large-scale data center sites in Spain. Under the agreement, the portfolio assets will be transferred into a new special purpose vehicle in which EdgeMode will hold 75% ownership and BAIF will hold 25%. EdgeMode will assume responsibility for financing and advancing the sites through Ready-to-Build. The portfolio represents over 1.5GW of planned Tier 3 data center capacity, making it one of the largest AI-focused infrastructure development initiatives currently underway in Europe. Each site is being advanced to RTB status, at which point they are expected to command RTB sale valuations of up to approximately $1 million per MW, based on current European hyperscale and AI-compute demand.