Edgemode, Inc.

Edgemode, Inc. is a U.S.-based company that has shifted from an earlier cryptocurrency-mining effort toward digital infrastructure colocation and high-performance computing (HPC) hosting. Through its SAPL acquisition, it is building and operating data center capacity for third-party customers running cloud computing, machine learning, and artificial intelligence workloads.

0.01

— Edgemode, Inc.
	%
HPC hosting and colocation	70% Licensing data center space and power to third-party customers for specialized computing workloads.
Data center lease components	15% Contract elements tied to fixed capacity, square footage, and recurring usage-based payments.
Non-lease operating services	10% Power delivery, physical security, maintenance, and other billable support services.
Development and build-out services	5% Infrastructure development and operational readiness work for new HPC facilities.

Edgemode sells to third-party customers that need dedicated data center capacity for HPC workloads, especially cloud...

Hyperscale cloud providersprimary
Buy large blocks of colocation and power capacity for cloud infrastructure and scaling compute demand.
AI and machine learning customersprimary
Buy HPC-ready space and power for specialized compute clusters used in AI model training and inference.
Enterprise technology userssecondary
Buy additional data center space and power when internal infrastructure is insufficient or outsourced capacity is preferred.
Colocation licenseesprimary
Lease portions of data center facilities and related services under recurring contractual arrangements.

Edgemode is incorporated in Nevada and operates through U.S. and U.K.-linked entities, including SAPL in England and...

•Incorporated in Nevada, with a Wyoming subsidiary
•SAPL is organized in England and Wales
•Marviken data center is a core operating location
•Planned Spain-related projects depend on permits and capital
•Geography affects power access, licensing, and build-out timing

The company’s strategy is to repurpose acquired infrastructure into a recurring-revenue HPC hosting platform and reduce...

Commercialize HPC hosting capacityshort-term

Recurring colocation revenue is intended to replace higher-risk legacy activities.

Complete infrastructure build-outmedium-term

Operational data center capacity is required before the business can scale revenue.

Raise additional working capitalshort-term

The company states it needs significant funding to commence and expand HPC operations.

Edgemode is still in an early transition phase, so execution and financing risk are central: it needs substantial...

high

Insufficient financing for HPC expansion

Management says the business requires significant additional working capital to develop operations.

Scope: Build-out, operating expenses, and customer delivery
Materiality: high

high

Permitting and project completion risk

Planned datacenters may not receive permits or be completed on time.

Scope: Spain-related and other development projects
Materiality: high

medium

Customer demand and utilization risk

Revenue depends on filling capacity with HPC hosting customers.

Scope: Marviken and future colocation facilities
Materiality: high

medium

Operational and power reliability risk

Data center hosting requires continuous power delivery and service uptime.

Scope: HPC colocation contracts and service quality
Materiality: medium

Revenue recognition for mixed HPC contracts

Affects reported revenue timing and margin presentation

Derivative liabilities at fair value

Can create significant non-operating volatility

Stock-based compensation

Materially inflates operating expenses and net loss

Asset acquisition accounting

Affects asset basis and future expense recognition

Edgemode, Inc.

Insufficient financing for HPC expansion

Permitting and project completion risk

Customer demand and utilization risk

Operational and power reliability risk

Fastly, Inc.

Hewlett Packard Enterprise Co

EXTREME NETWORKS INC

Cipher Digital Inc.

Applied Digital Corp.

WhiteFiber, Inc.