Blockfusion Signs Long-Term Lease with CoreWeave at Niagara Falls AI Campus
Blockfusion has signed a long-term lease agreement with CoreWeave for capacity at its Niagara Falls, New York data center campus. The initial term is 15 years and includes two five-year renewal options. This deal replaces an earlier non-binding letter of intent from June that outlined potential AI infrastructure commitments worth up to $2.8 billion over the first 15 years or $5.4 billion with renewals. Blockfusion's North East Data subsidiary also signed a separate expansion agreement, though its terms are conditional on securing power and approval for CoreWeave’s infrastructure plan. The Niagara Falls campus is being developed from an old power plant into AI-ready data center space using hydroelectric and nuclear energy sources in NYISO Zone A. The lease supports Blockfusion's ongoing merger with Blue Acquisition (NASDAQ: BACC), which includes a $175 million private placement of convertible senior notes. Further details on the lease will be included in an amended Form S-4 registration statement.
Topics: AI Infrastructure Data Centers Energy Efficiency Mergers & Acquisitions