$24.3 Million Joint Venture to Build Computing Center in Alberta
Key Facts
FingerMotion, Genius Group and BlueFlare announced on October 27 that they had signed binding agreements to establish the Genius Park Alberta joint venture and build the first high-performance computing site in Hanna, Alberta, Canada. The move is part of a plan to develop computing sites in the province, starting with the Hanna project. FingerMotion holds 51% of the venture’s initial capital, compared with 49% for Genius Group. The two parties will develop the initiative through a joint venture, while BlueFlare will participate in developing the site and its infrastructure. FingerMotion’s chief executive said the project “moves the company beyond powered land, toward owning the computing that runs on it.”
The company estimated the total cost of the Hanna project at about $24.3 million and said its targeted financing consists of $14.4 million in non-recourse project debt and $9.9 million in equity contributions. These are targeted financing figures under the project plan, not funding the company has announced as completed. Decisions on budgets, new sites, debt and new investors require approval from both parties, despite their differing shares of the initial capital. This arrangement defines the scope of joint decisions in the project, including expansion and financing options. Completion of the Hanna project is also conditional on completing the land purchase, securing a grid connection agreement and financing, and obtaining regulatory approvals.
The Genius Park Alberta plan targets the development of 100 megawatts of high-performance computing capacity in its initial phase, with an ambitious expansion target of up to 1 gigawatt across a group of sites in Alberta. The Hanna site design includes an option to add up to 3 megawatts of natural gas power generation owned by BlueFlare. The plan links the development of computing sites with access to the power needed to operate them, while the announced capacity figures remain project targets. FingerMotion and BlueFlare announced on September 10 a binding commitment to acquire rights and permits for a 9.9-megawatt site in Newell County. That site was described as the first acquisition within the Brooks development zone, with the intention of assembling separate sites of this capacity.
The initiative extends beyond the Hanna site: Genius Group launched the Genius Park initiative on October 26, a day before announcing the agreements, to develop and operate AI data centers in partnership with AI companies, data center operators and energy partners. The group said its plan starts with Canada, Australia and Indonesia, targeting markets that combine available low-cost energy with high demand and government support. The initiative targets initial computing capacity of 100 megawatts, which the group linked to targeted annual revenue of $1 billion under its announced model. It also set a long-term target of 1 gigawatt. These figures describe the initiative’s ambition and announced model, while the Hanna project remains the first specified site in the Alberta agreement.
The plan includes allocating 10% of each site’s net profits to a local community fund, alongside training and education programs offered by Genius Group under its Genius City model. Construction in Hanna is scheduled to begin during December 2026, with computing operations targeted to start in the second quarter of 2027. This timeline is tied to completion of the closing conditions, including the land purchase, grid connection, financing and regulatory approvals. In stock trading, FingerMotion closed at $0.1465 on October 28, 2026. The information provided here includes no further details about the stock’s movement during the session.