BluSky AI, Inc.

What they do

BluSky AI states it provides pre-fabricated modular data centers and describes itself as a Neocloud Provider, focused on high-performance computing infrastructure, strategic site selection, and operational risk management. Until January 2023 the company operated in mining, running the Clavo Rico mine in Honduras through subsidiary Compania Minera Cerros del Sur, S.A. de C.V.; it divested that interest via a 2023 agreement with Mother Lode Mining, Inc. The company rebranded from Inception Mining Inc. to BluSky AI Inc. in March 2025.

Revenue drivers

• Modular data center / AI-HPC infrastructure — The company describes itself as a pre-fabricated modular data center provider specializing in AI and high-performance computing, but the excerpts provided do not disclose revenue, customers, or contract values for this line.
• Neocloud provider services — The 10-Q describes BluSky AI as a Neocloud Provider, but no segment revenue figures for this activity appear in the source material.
• Legacy mining (divested) — Revenue of $4.1M in 2020 and $4.7M in 2021 came from the historical mining business; the Clavo Rico mine interest was divested in 2023, and the excerpts state historical operations included consulting to mining companies.

Recent performance

Reported annual revenue was $4.1 million in 2020 and $4.7 million in 2021, with no annual revenue figures disclosed in the provided data for periods after 2021. Net income was -$2.8 million in 2021, -$4.1 million in 2022, positive $12.7 million in 2023, -$0.95 million in 2024, and -$4.5 million in 2025. Operating cash flow was -$0.09 million in 2021, -$0.90 million in 2022, +$1.2 million in 2023, -$0.13 million in 2024, and -$1.2 million in 2025. As of June 30, 2026, total assets were $2.3 million, total liabilities $3.9 million, shareholders' equity -$1.6 million, and cash and equivalents $507,547.

Strategy

The company states it is dedicated to delivering infrastructure and solutions for AI applications and computational workloads with a focus on innovation, scalability, and environmental sustainability. It completed a transformation and rebranding in March 2025 to align with this direction after divesting the Clavo Rico mine interest in 2023. Management's stated priorities include strategic site selection and operational risk management, and the company describes itself as a modular data center provider and Neocloud Provider. The filings note forward-looking plans concerning data centers, AI, and high-performance computing, along with anticipated needs for working capital and a lack of operational experience in this area.

Risks

• Supply chain and modular provider reliance — The 10-K states BluSky AI relies on modular data center providers, and delays in manufacturing, installation, or shipping could affect deployment schedules.
• GPU procurement concentration — The 10-K states dependence on a few major GPU manufacturers such as NVIDIA and AMD increases procurement risk, and delays or price hikes from these suppliers can affect operational costs and scalability.
• Power availability and grid limits — The 10-K states growing data center demand and aging energy infrastructure pose a risk to securing reliable power, and regulatory restrictions on energy consumption may affect site selection and costs.
• Limited operating history in AI data centers — The company historically operated in mining and had no annual revenue reported after 2021 in the provided data, while the filing lists lack of operational experience among forward-looking risk factors.

Outlook

The filings do not provide specific guidance figures for future periods. Management's forward-looking statements reference data centers, artificial intelligence, and high-performance computing, along with projected sales and profitability, growth strategies, and future financing plans. The company also identifies anticipated needs for working capital and its lack of operational experience as factors to consider.