Blockfusion USA, Inc. has entered into a definitive anchor lease agreement with CoreWeave, Inc. for capacity at its Niagara Falls, New York campus, converting a non-binding letter of intent from June 30, 2026, into a binding commitment that will shape the future of the former industrial site.

The Agreement and Its Terms

The lease, executed through Blockfusion's wholly owned subsidiary North East Data, LLC, carries a 15-year initial term with two five-year renewal options. Alongside the lease, the parties also executed a companion expansion agreement.

Together, these definitive agreements replace the non-binding letter of intent that Blockfusion had announced on June 30, 2026. CoreWeave, which trades on the Nasdaq under the ticker symbol CRWV and markets itself as The Essential Cloud for AI, is the anchor tenant in the arrangement.

The agreement was announced on September 16, 2026.

The Niagara Falls Campus

The Niagara Falls site at the center of the deal is a decommissioned power plant that Blockfusion has transformed into a low-carbon data center. The campus is powered predominantly by hydroelectric power and is being adapted for high-density, liquid-cooled AI infrastructure. According to the company, the site benefits from an existing grid interconnection, clean energy sourcing, and redundant fiber infrastructure.

Blockfusion describes itself as a developer and operator of predominantly zero-carbon high-performance computing and AI infrastructure.

Its Niagara Falls flagship campus sources power from low-cost hydroelectric and nuclear generation in NYISO Zone A. Alex Martini-Lo Manto, Chief Executive Officer of Blockfusion, characterized the lease as a landmark moment for the company.

"This agreement is a defining milestone for Blockfusion, and strong validation of our Niagara Falls campus," he said. "We are transforming a former industrial site into infrastructure for the next generation of computing and what we believe can become a long-term technology and economic anchor for the region."

Local Economic Impact

Robert Restaino, Mayor of the City of Niagara Falls, offered his support for the project and its implications for the surrounding community.

"The conversation about data centers is ultimately about ensuring technology investment translates into real benefits for local communities," Restaino said.

"Blockfusion's commitment to Niagara Falls creates opportunities for residents, businesses and future generations. We are encouraged by investments that help strengthen our local economy and position Niagara Falls for long-term growth."

Connection to Proposed Business Combination

The lease agreements also carry significance beyond the immediate commercial relationship with CoreWeave. Blockfusion has disclosed that the agreements represent an important step in its proposed business combination with Blue Acquisition Corp., which trades on the Nasdaq under the ticker symbol BACC.

The business combination agreement between Blue and Blockfusion was entered into in November 2025 and has since been amended.

Subject to closing conditions, the transaction is expected to result in a new publicly traded company, Blockfusion Digital Infrastructure, Inc., which is referred to as Pubco, being listed on the Nasdaq Stock Market under the ticker symbol BDI.

Closing conditions for the business combination include satisfaction of minimum cash requirements at closing, approval by shareholders of both Blue and Blockfusion, and satisfaction of applicable regulatory and exchange listing requirements.

Additional details regarding the lease, the expansion agreement, and related arrangements are expected to be included in an amendment to the registration statement on Form S-4, which is to be filed by Pubco and Blockfusion with the U.S. Securities and Exchange Commission in connection with the business combination.

Advisors on the Transaction

Several advisory firms were involved in bringing the lease to completion. Howard Berry and Chris Pedersen of Avison Young's National Data Center Solutions team represented Blockfusion in negotiating the lease transaction.

Jones Day served as lead outside counsel to Blockfusion on lease-related matters.

Winston Taylor LLP is serving as legal advisor to Blockfusion, while Phillips Lytle LLP is serving as lease, construction, environmental, and New York regulatory counsel.

The JBernstein Group, LLC is serving as the investor relations advisor on the transaction. Blockfusion is headquartered at 447 Broadway, 2nd Floor, New York, NY, and serves enterprise, government, and technology customers with scalable, energy-efficient compute capacity.