FingerMotion, Genius Group Sign JV For 2.4MW HPC Campus In Alberta

Genius Group, FingerMotion and BlueFlare Energy Solutions signed binding agreements on October 27 to form GENIUSpark Alberta Inc. and build high-performance computing campuses in Alberta, Canada. The first site, Hanna Campus No. 1, carries an estimated $24.3 million cost and 2.4 MW of computing capacity.

FingerMotion holds 51% of the joint venture and leads site acquisition, power, construction and data center management alongside BlueFlare, a Calgary developer of behind-the-meter power. Genius Group holds 49% and leads branding, marketing and training and community programs. The structure is set out in a binding joint venture and shareholder agreement, with budgets, new sites, debt and related-party contracts requiring approval from both parties.

Hanna Campus No. 1 sits on a 20.2-acre site in the Town of Hanna that the project subsidiary has contracted to buy. The first phase plans 3 MW of grid power from ATCO and 2.4 MW of computing capacity running 432 GPU servers. It carries the option to add up to 3 MW of BlueFlare's own natural gas generation. The $24.3 million project is targeted to be funded with about $14.4 million of non-recourse debt and $9.9 million of equity contributed in proportion to the partners' ownership. Construction is planned to begin in December 2026, with first compute targeted for the second quarter of 2027.

GENIUSpark Alberta targets an initial 100 MW of high-performance computing across a cluster of sites sized between 3 MW and 9.9 MW, with a stretch goal of 1 GW. The partners put site capex at $9.85 million per MW and all-in project cost at $10.1 million per MW, against an industry average of $17.6 million per MW for a new data center in the U.S. and Canada, citing Cushman & Wakefield.

"GENIUSpark Alberta takes FingerMotion beyond powered land into owning the compute that runs on it," said Jolie Kahn, CEO of FingerMotion.

Genius Group announced the GENIUSpark initiative on October 26, a day before the Alberta joint venture, and named Canada, Australia and Indonesia as target markets. Baxtel tracks 83 data center sites in Alberta, operated by 58 providers, and the largest is Hut 8's Medicine Hat site at 25 MW. FingerMotion has two sites tracked in the province, including Hanna Campus 1, which Baxtel records as land under contract with a 6 MW power design of 3 MW grid plus 3 MW on-site gas. Trade coverage of the deal appeared in Data Center Dynamics.

Closing is subject to completion of the land purchase, the grid connection agreement, project financing and regulatory approvals. The partners intend to consider a listing of GENIUSpark Alberta on the TSX or Nasdaq at an appropriate time.

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