SEC Contract Filing

Filing Date: 2025-07-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bsai_ex10z1.htm
<DESCRIPTION>ACQUISITION AND POWER ASSIGNMENT AGREEMENT WITH DIGITAL ASSET MEDIUM LLC DATED JUNE 30, 2025
<TEXT>
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<DIV style=margin-left:72pt;width:468pt><P align=center style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>ACQUISITION AND POWER ASSIGNMENT AGREEMENT</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'>This Acquisition and Power Assignment Agreement (the &#8220;Agreement&#8221;) is entered into on July 7, 2025 to be effective as of June 30, 2025 (the &#8220;Effective Date&#8221;), by and between:</P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>Digital Asset Medium, LLC</B>, a Wyoming limited liability company, with its principal place of business at 412 N Main St Suite 100 Buffalo, Wyoming 82834 (the &#8220;Seller&#8221;), and<B> BluSky AI Inc.</B>, a Nevada corporation, with its principal place of business at 5330 S 900 E STE 280 Murray, Utah 84117(the &#8220;Buyer&#8221;).</P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'>Collectively, the parties are referred to as the &#8220;Parties&#8221; and individually, each is referred to as a &#8220;Party.&#8221;</P>
<P align=center style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:8pt'><B>RECITALS</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:8pt'>WHEREAS, Seller owns the exclusive right to utilize nine and three-tenths (9.3) megawatts (&#8220;MW&#8221;) of solar and grid-interconnected power (the &#8220;Power Commitment&#8221;);</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:8pt'>WHEREAS, the Buyer is a modular data center company dedicated to providing innovative and sustainable infrastructure solutions that power AI that is publicly-traded on the OTC Markets under the symbol &#8220;BSAI&#8221;;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:8pt'> WHEREAS, the Buyer desires to purchase the Seller&#8217;s rights to the Power Commitment in exchange for shares of its common stock in exchange for the consideration and upon the terms set forth below; and &nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:8pt'>WHEREAS, the Board of Directors of Buyer and Seller have each approved the proposed transaction, contingent upon satisfaction of all of the terms and conditions of this Agreement.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'>NOW, THEREFORE, in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, and the covenants, conditions, representations and warranties hereinafter set forth, the parties hereby agree as follows:</P>
<P style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>1. Assignment of Power Commitment</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'>In exchange for the consideration as set forth herein, Seller hereby assigns, transfers, and conveys to Buyer the exclusive right to utilize nine and three-tenths (9.3) megawatts (&#8220;MW&#8221;) of solar and grid-interconnected power (the &#8220;Power Commitment&#8221;) at Seller&#8217;s existing cost of $0.068 per kilowatt-hour (&#8220;kWh&#8221;), subject to adjustment as described in Section 2, for the operational life of Buyer&#8217;s data center project located in the Milford Area of Beaver County, Utah (the &#8220;Project&#8221;). The Seller shall execute all necessary documents to show the effective assignment of the Power Commitment, including the Assignment and Transfer of Powers attached hereto as Exhibit A. All payments to the power company for the Power Commitment shall be paid by the Buyer directly. All liability under the original contract between Seller and the power company shall remain with the Seller.</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>2. Cost of Power</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt;margin-left:36pt'><KBD style='position:absolute;font:12pt Symbol;margin-left:-18pt'><FONT style='font:10pt Symbol'>&#183;</FONT></KBD>Seller shall provide Buyer with written notice of any change in Seller&#8217;s cost of power as soon as reasonably practicable following such change.&nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt;margin-left:36pt'><KBD style='position:absolute;font:12pt Symbol;margin-left:-18pt'><FONT style='font:10pt Symbol'>&#183;</FONT></KBD>Following the notification of the change in Seller&#8217;s cost of power, Buyer shall pay Seller for actual kWh usage at Seller&#8217;s then-current cost, commencing upon Buyer&#8217;s absorption and utilization of the Power Commitment (&#8220;Absorption Date&#8221;).&nbsp;</P>
<P style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>3. Consideration</B></P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt'>As full and complete consideration for the assignment of the Power Commitment, Buyer shall issue to Seller twenty million (20,000,000) restricted shares of the Buyer&#8217;s common stock (the &#8220;Shares&#8221;) upon execution of this Agreement.</P>
<P align=justify style='font:12pt Times New Roman;margin-top:5pt;margin-bottom:5pt;margin-left:36pt'><KBD style='position:absolute;font:12pt Symbol;margin-left:-18pt'><FONT style='font:10pt Symbol'>&#183;</FONT></KBD>The Shares shall be fully paid, non-as