Company leases 51 acres and secures 9MW in Milford
New data center firm BluSky AI Inc. has signed a ground lease and power agreement for its first planned facility in Utah.
The OTC-listed modular data center firm this week announced the acquisition of the land lease and secured a total of 9.3MW of power to support its debut data center project in Utah.
The company said that at the end of June, it entered into a definitive acquisition and power assignment agreement with Digital Asset Management LLC (DAM), a Wyoming-based infrastructure partner also owned by BluSky’s CEO.
Under the agreement, DAM has assigned BluSky AI its exclusive right to utilize 9.3MW of solar and grid-interconnected power at a “highly competitive” rate.
BluSky AI has issued 20 million shares of restricted common stock to DAM as part of the deal. The power commitment will support BluSky AI’s long-term operations at its Milford data center site in Utah’s Beaver County.
BluSky AI has also executed a ground lease with an option to purchase with Wild Mustang Ventures LLC, securing 51.6 acres of land in Milford. The lease will run for an initial two-year term.
“This is a foundational moment for BluSky AI,” said Trent D'Ambrosio, CEO of BluSky AI Inc. “Securing long-term, low-cost power and a strategic land position in Central Utah gives us the runway to scale our AI infrastructure with sustainability and precision. It’s the first step in a bold vision to provide access to compute and power the future of intelligent systems.”
Utah-based BluSky relaunched earlier this year, promising prefabricated modular data centers.
The company claims its SkyMod facilities will feature Nvidia GPUs; SkyMod One will offer 1MW across 1,400 sq ft (130 sqm), while its SkyMod XL will offer 1.7MW across 3,000 sq ft (278.7sqm).
The company was founded in 2007 and was previously known as Inception Mining. The firm was focused on precious metals, including gold, but recently pivoted after divesting one of its mines in Honduras.
CEO D’Ambrosio was previously involved with a company known as RackScale Data Centers, but it’s unclear if any data centers were ever delivered.
As noted in SEC filings, D’Ambrosio is also a ‘managing member’ of Digital Asset Medium, LLC, the company from which BluSky is buying power.
