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EdgeMode Sells Multiple Data Center Development Sites in Spain to Pure DC and Spark AI Foundry

By: IDCNOVARegion: Europe
Data center developer EdgeMode is divesting several of its development sites in Spain, selling four plots to Pure Data Centres Group and a separate campus to the emerging player Spark AI Foundry. The transactions mark a significant step in EdgeMode’s pivot from cryptocurrency mining to AI-focused infrastructure, while underscoring Spain’s growing appeal as a data center hub.

EdgeMode announced this month that it has signed a non-binding term sheet with Pure Data Centres Group to sell its leasehold interests in land sites located in Córdoba, Palma del Río (Córdoba), Vianos (Albacete), and Cáceres, Spain. Pure, which is backed by Oaktree Capital Management, intends to develop data centers on the acquired sites. Under the terms of the agreement, Pure has a 60-day exclusivity period to finalize a binding deal. Once agreements are executed, Pure will pay €1.5 million ($1.7 million) per selected site, with an additional €1.5 million when each site reaches Ready-to-Build status, plus €325,000 ($372,000) per megawatt of leased IT capacity. According to Spanish publication Expansión, the deal involves the acquisition of the companies developing the projects after they secure administrative approvals, energy permits, and a capacity lease agreement with a hyperscale operator. The Córdoba and Palma del Río sites alone could reportedly support a combined power capacity of up to 1.5GW at full build-out.

Pure Data Centres, founded in 2015 and headquartered in London, currently has more than 1GW of IT capacity in operation or development across Europe, Asia, and the Middle East. The company has developments in the Netherlands (Amsterdam), Finland (Seinäjoki), Ireland (Dublin), the UK (London), France (Paris), and Spain (Madrid). Pure first entered Spain in 2024 by acquiring a plot in the Meco area of Madrid from ActivumSG, and its only listed Spanish project to date is the 70MW MAD01 development in Meco.

EdgeMode, an OTC-listed company, was previously focused on cryptocurrency mining but has been transitioning to AI-oriented facilities. The company entered Spain last year through a joint venture with Blackberry Alternative Investment Fund (AIF), which held multiple planned data center development sites across the country. In recent filings, EdgeMode said it controls seven plots of land in various Spanish locations via leasehold interests. Many of these sites are designed to use Bloom Energy’s solid oxide fuel cells powered by natural gas, bypassing grid connection constraints. The company has previously stated that up to 360MW of fuel cell capacity could be deployed at each of the five sites under the joint venture with AIF, for a total of 1.8GW of capacity across those projects.

Separately, EdgeMode entered into a Non-Binding Offer (NBO) with Spark AI Foundry Holdings LLC for its planned 300MW IT data center campus in the Municipality of Mora, Toledo. Once the project reaches Ready-to-Build (RTB) status, expected by Q4 2026 or Q1 2027, Spark AI will acquire 100% of the share capital of DC Estate Malpica, S.L., the Special Purpose Vehicle (SPV) that owns the Malpica project. The 105-hectare site could include up to 60MW of on-site rooftop solar generation, but will primarily rely on a natural gas pipeline for power. The deal is valued at €1 million ($1.1 million) per megawatt of IT capacity, implying a total price tag of approximately €300 million ($343 million).

Charlie Faulkner, CEO of EdgeMode, said: “Advancing with this Spark AI Foundry Holdings NBO for the DC Malpica AI project is a pivotal milestone in our strategy to build next-generation infrastructure at pace. By taking an innovative, off-grid approach to power generation, we are successfully bypassing the capacity and infrastructure constraints that challenge traditional hubs. This project is now moving forward rapidly to deliver the massive scale and reliability required by today's intensive computing environments.”

Spark AI Foundry appears to be affiliated with the Hedmark Holdings family office, though few details about the company are publicly available. On its website, the firm says it is developing a network of 20 AI sites across North America. Known projects include locations in Loveland, Colorado; Olathe, Kansas; and Lansing Township, Michigan. UK data center firm Deep Green is listed as a partner.

In addition to these sales, EdgeMode is in the process of acquiring Spanish energy firm Ibersun, which will give it battery energy storage system projects, land plots, and grid access rights to develop data center and energy storage projects in Spain. The deal would see EdgeMode acquire 51% of Ibersun for $7.2 million.