By Razvan Toma · Founder & CEO, Ampervia · Last checked 2026-10-13 · Sources linked below
EdgeMode controls about 105 ha near Mora (Toledo) through a 35-year lease at €2,000 per hectare per year (SEC filing) for a 300 MW project. In June 2026 Spark AI Foundry signed a non-binding offer to buy the project company once it reaches ready-to-build, at €1 million per MW of certified RTB IT capacity (up to €300 million). The buyer would then need roughly €3 billion to build. Nothing is binding yet. Sources (4)
SEC filingSEC filing — EdgeMode exhibit: Malpica lease (105.26 ha, 35 years, €2,000/ha/yr)↗
EdgeModeEdgeMode — Non-Binding Offer from Spark AI Foundry (OTC Markets release)↗DataTechDataTech — EdgeMode agrees €300m non-binding sale of Spain project↗ExpansiónExpansión — Edgemode, Mora (Toledo) pre-agreement (30 Jun 2026)↗
Timeline
| When | What happened |
|---|---|
| Lease | ≈105.26 ha leased for 35 years at €2,000/ha/yr (SEC exhibit). |
| Dec 2025 | Environmental authorisation submitted. |
| 24 Jun 2026 | Non-binding offer from Spark AI Foundry: €1m per RTB IT MW, up to €300m, payable at closing once RTB is certified. |
| Jul 2026 | Separately, Pure DC term sheet for EdgeMode’s other Spanish sites: €1.5m per site upfront, €1.5m at RTB, €325,000 per leased MW, with an option to reinvest through a JV. |
| End 2026 / Q1 2027 | Ready-to-build expected; long-stop date applies. |
What changed between entry and exit
- Controlled a large plot with a lease instead of a purchase, keeping early cash low.
- Pursued environmental authorisation and building permit to reach RTB.
- Agreed the price formula with a buyer before RTB: the buyer is in, conditionally, before completion.
Capital and counterparties
EdgeMode funds the path to RTB; the buyer pays at RTB and funds the build. In the Pure DC term sheet, payments are staged by milestone.
Economics: confirmed and not disclosed
| Item | Figure | Note |
|---|---|---|
| Land control cost | ≈€210,000 a year | 105 ha × €2,000/ha (Ampervia calculation) |
| Offer at RTB | €1m per RTB IT MW, up to €300m | Non-binding |
| Staged terms (other sites) | €1.5m upfront + €1.5m at RTB + €325k per leased MW | Non-binding term sheet |
Risks and limitations
- Both deals are non-binding and subject to due diligence and permits.
- The price is per certified RTB MW: if permits or grid fall short, the value falls with them.
- Spending on studies, permits and grid works is not disclosed.
Relevance to Ampervia
A buyer can commit before RTB, with payment tied to milestones. That is the model Ampervia uses: members fund the early steps, a partner pays at agreed gates.
Sources
- SEC filing — EdgeMode exhibit: Malpica lease (105.26 ha, 35 years, €2,000/ha/yr)
- EdgeMode — Non-Binding Offer from Spark AI Foundry (OTC Markets release)
- DataTech — EdgeMode agrees €300m non-binding sale of Spain project
- Expansión — Edgemode, Mora (Toledo) pre-agreement (30 Jun 2026)
- SEC filing — EdgeMode 8-K: Pure DC term sheet and exclusivity (1 Jul 2026)
- BeBeez — EdgeMode looks to sell data center development sites in Spain
Last checked 2026-10-13. Third-party precedent, not an Ampervia project.