EdgeMode, Inc.

What they do

Edgemode was incorporated in Nevada in 2011 and, between 2021 and 2023, attempted Bitcoin mining without sufficient funding for hardware and hosting contracts. Since late 2023, its activities consisted of evaluating acquisition candidates, and in April 2025 it closed a Share Exchange with Synthesis Analytics Production, Ltd. (SAPL), which it now claims to be rescinding. Its current stated business is developing HPC/AI data center sites on five leased properties in Spain through DC Estate Solutions Cayman Limited, a joint venture with Blackberry AIF.

Revenue drivers

• AI data center development (Spain leases) — The company holds five 100-hectare Spain leases (Malpica, Caceres, Vianos, Cordoba, Torrecampo) intended for gas-powered autonomous energy island AI data centers; no revenue has been generated from these sites.
• Ready-to-Build (RTB) site sales — Management states it intends to sell the Spain sites on an RTB basis rather than operate them, but no sites have reached RTB status and no sales have occurred.
• Legacy Bitcoin mining — Reported annual revenue was $1.6M in 2021 and $438,042 in 2022, then $0.00 in 2023, 2024 and 2025; this line is effectively discontinued.
• Digital colocation services (via SAPL) — Following the April 2025 SAPL acquisition, the company described plans to provide digital colocation for HPC customers, but this segment has produced no reported revenue and the company is seeking rescission of the transaction.

Recent performance

Annual revenue has been $0.00 in each of 2023, 2024 and 2025, and the most recent quarterly revenue (2026-03-31) was also $0.00. Net income was -$24.6M in 2025 and -$3.0M in 2023, with a 2022 loss of -$32.2M. Operating cash flow was -$825,713 in 2025 versus $17,680 in 2024. At 2026-06-30, total assets were $1.5M, total liabilities $10.5M, shareholder equity -$8.8M, and cash and equivalents $16,710.

Strategy

Management is pivoting from cryptocurrency mining to developing gas-powered AI data center and energy infrastructure on five leased Spanish sites totaling a planned 1.8 Gigawatts (360 MW per site). The company formed DC Estate Solutions Cayman Limited with Blackberry AIF, initially 75%/25% and restructured under a January 2026 joint venture agreement to 50.1% Company / 49.9% BAIF, with unanimous consent required for material decisions. Edgemode agreed to fund DC Estate Solutions with $3.5M, including $250,000 paid at the MOU, $250,000 at the SPV SPA, and $375,000 on a Spanish notarial deed. Management estimates $5M of working capital is needed for full RTB status across all five sites, with additional substantial capital required thereafter. The company has also filed suit in the Southern District of Florida seeking rescission of the April 2025 SAPL Share Exchange over alleged breaches and encumbered assets.

Risks

• No operating revenue — Revenue has been $0.00 since 2023, so the company is entirely dependent on external financing to fund development and operations.
• Going concern / liquidity — At 2026-06-30 the company had $16,710 of cash, $10.5M of liabilities and negative equity of $8.8M, making near-term financing critical.
• Rescission litigation over SAPL — The company alleges SAPL and ACL breached representations and that SAPL's real property and material assets were and remain encumbered and subject to liens, and it is seeking rescission of the Share Exchange.
• Development and permitting risk — The Spain sites require urban compatibility reports, connection points, fibre connections, environmental permits and contractor permits, and the company acknowledges no assurance that permits or agreements will be obtained or that the data centers will be developed or sold.

Outlook

Management states it needs approximately $5 million of working capital to bring all five Spain sites to full Ready-to-Build status, and substantially more to develop the data centers. It is negotiating a power purchase agreement for a 360MW gas facility per site and states a gas pipeline connection application has been approved. The company cautions there is no assurance capital will be raised, permits obtained, or the data centers developed, sold or made operational.