Data center operator Blockfusion announced on Wednesday that it will go public in the U.S. through a merger with blank-check company Blue Acquisition Corp, valuing the deal at $450 million. The listing plan is driven by sustained investor interest in the data center sector.

Special Purpose Acquisition Companies (SPACs), after a prolonged lull, have regained momentum this year. Prominent investors and financial institutions are once again favoring these vehicles as an alternative route to public markets.

A SPAC is essentially a "shell company" that raises capital through an initial public offering (IPO) and later merges with a private business, providing a faster path to going public without a traditional IPO.

Benjamin Kwasnick, founder of a SPAC research firm, noted, "Many of 2025’s hottest IPOs have fallen well below their peak valuations. For Blockfusion, a SPAC merger is the quickest way to capitalize on current market trends—without having to prove whether a smaller operator can sustain investor interest in a high-valuation environment."

New York-based Blockfusion designs, builds, and operates infrastructure primarily for AI, enterprise, and colocation clients.

In 2025, demand for data center infrastructure surged, fueled by rapid growth in digital services and the widespread adoption of generative AI and machine learning technologies—all of which require significant computing resources.

A Bank of America report revealed that U.S. data center construction spending, seasonally adjusted, reached an annualized rate of $40 billion in June, hitting a record high as tech giants ramp up investments in AI infrastructure.

Blockfusion projects that, if the transition proceeds smoothly, its gross revenue could reach up to $128 million by 2028, with EBITDA hitting $75 million.

The transaction is expected to close in the first half of 2026. Upon completion, the combined entity will operate as "Blockfusion Data Centers Inc" and is expected to list on the Nasdaq stock exchange.