Blockfusion to go public via SPAC merger with Blue Acquisition at $450M pre-money equity value

Blue Acquisition Corp/Cayman

Pre-money equity value of $450M; enterprise value $480M; Blue Acquisition trust holds ~$204M.
Expected proceeds of $200M from trust retention and PIPE; closing targeted first half 2026.
Blockfusion's Niagara Facility currently 46 MW Tier 1; plans to expand to >100 MW Tier 3 for AI/HPC.
Projected 2028 revenue of $128M and EBITDA of $75M; 2030 revenue $209M and EBITDA $132M (cash-based, excl. capex).
Director nominee Aber Whitcomb (Core Scientific co-founder) expected to join post-closing board.

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