Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 110

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 5
Chunk 110
---
On July 7, 2025, BluSky AI Inc., entered into an Acquisition and Power Assignment Agreement with Digital Asset Medium, LLC (“DAM”), a Wyoming limited liability company, whose managing member, Trent D'Ambrosio, is also the Company’s CEO. DAM assigned to the Company its exclusive right to utilize solar and grid-interconnected power at a data center project located in the Milford area of Beaver County, Utah. In exchange for the assignment of the Power Commitment in the Acquisition Agreement, the Company issued 20,000,000 shares of its restricted common stock to DAM.

Additionally, on July 11, 2025, the Company entered into a Ground Lease with an Option to Purchase (the “Lease”) with Wild Mustang Ventures LLC, a Wyoming limited liability company (the “Landlord”), through which the Company leased 51.6 acres in Milford, Utah (the “Milford Land”) for a two-year term. The base rent is $90,000 annually, which shall accrue until the earlier of the expiration of the lease or until the Company exercises its option to purchase the Milford Land. The Lease contains standard other provisions and includes a mutual indemnification clause which requires that the parties indemnify each other except in the case of gross negligence or willful misconduct.

On July 28, 2025, the Company signed a letter of intent to purchase land in Camp Verdi, Arizona for $3,100,000.

On July 28, 2025, the Company signed a letter of intent to sign a 15 year ground lease on a property in Delta, Utah. Lessee will pay $5,000 per month upon entering into a final agreement for the duration of the Lease. 

Power availability may be reserved by the Lessee by making a non-refundable power purchase agreement (“PPA”) deposit of $300,000 per MW (“Reserved Power”).

 9Table of Contents

ITEM 6. EXHIBITS

Exhibit Number Exhibit Description   3.1 Articles of Incorporation (1)   3.2 Certificate of Amendment, effective March 5, 2010(2)   3.3 Certificate of Amendment, effective June 23, 2010(3)   3.4 Articles of Merger, effective May 17, 2013 (4)   3.5 Bylaws (1)   10.1+ Employment Agreement