Crypto firm pivots to colocation
US data center firm EdgeMode has announced the acquisition of Synthesis Analytics Production Ltd. (SAPL), which will now be rebranded as EdgeMode Europe.
The $1.75 million deal sees EdgeMode take charge of a 95MW power purchase agreement, a long-term lease on an in-development 20MW high-performance computing data center, and freehold ownership of approximately 20,000 square meters (215,280 sq ft) of adjacent land in Marviken, Sweden.
On its website, former crypto firm EdgeMode lists a Swedish data center at the Marviken Smart Energy Cluster in Norrköping, about 160 km southwest of Stockholm. The company says it will be able to offer up to 180kW per rack via immersion cooling.
The deal was first announced last year. Established in 2017, Swedish firm Synthesis developed several data center modules utilizing proprietary immersion cooling, ranging from an 182kW rack module to a 3.27MW containerized pod, as well as an 11MW cube concept.
The data center site will make use of nearby natural resources, such as a seawater cooling system. The first 20MW is expected to be in operation by the end of this quarter, while the second 75MW phase is said to be in advanced planning. EdgeMode claims the site is scalable to 300MW within five years.
“This acquisition marks a significant milestone in our strategic roadmap,” said Charlie Faulkner, CEO of EdgeMode.
“We are focused on delivering green, Tier III, purpose-built, energy-efficient data centers designed to meet the accelerating demand for high-performance computing infrastructure," Faulkner added.
“Our approach is deliberate: Harness all advantages the Marviken site provides us, such as land, power, sea water cooling facilities, buildings, and substantial infrastructure which is already in place,” Faulkner said.
EdgeMode’s new chief technology officer and board director, Dr. Niclas Adler, joins the company from SAPL, where he was formerly the CEO. Adler described the potential for a data center site to be designed for purpose from the ground up.
Adler stated: “This is a rare opportunity to engineer data center infrastructure from the ground up with scale, sustainability, and high-performance computing at the core,” he said.
“We are leveraging proprietary thermal management systems, access to reliable power, and an optimized site design to deliver robust, future-proof facilities tailored for AI and HPC demands,” Adler added.
EdgeMode was previously focused on cryptomining operations. Acquired by Fourth Wave Energy in 2022, the company had operations in New York and Illinois at the time. However, an SEC filing notes that the company "lacked the necessary funding to finance the purchase of Bitcoin mining hardware and hosting contracts," and has since pivoted to colocation services and high-performance computing hosting.
