Blockmate Ventures Inc (TSX-V:MATE, OTCQB:MATEF, FRA:8MH) told investors that it is continuing discussions with multiple parties regarding the potential development of an AI data center in Wyoming, as the company looks to advance the project through talks with investors and strategic partners.
The company said key executives will attend the Datacloud Global Congress 2026 in France next week, where they plan to continue discussions with potential counterparties tied to the Wyoming opportunity. The event is focused on the global data center and hyperscaler sectors.
Blockmate also said it is working with a technical surveying firm and local city officials to increase the amount of usable acreage at the Wyoming site. The company said expanding the developable footprint could improve the overall value and attractiveness of the project for potential investors and partners.
The update comes as Blockmate said it is seeking to provide greater visibility into its strategic direction and near-term priorities across its AI, Bitcoin and digital infrastructure initiatives.
Separately, the company clarified that approximately $6.8 million in liabilities reflected on its consolidated balance sheet relate to Hivello, one of Blockmate’s investments, and specifically to SAFE notes issued at the Hivello level.
Blockmate said the SAFE notes are obligations of Hivello and not direct liabilities of the parent company. However, because Blockmate currently consolidates Hivello for accounting purposes, it is required to include 100% of Hivello’s assets and liabilities in its consolidated financial statements.
The company added that this accounting treatment also affects its consolidated statement of profit and loss, noting that more than 60% of total expenses in the current reporting period relate to Hivello.
Blockmate said it expects the Hivello SAFE notes to convert into equity in the future. Depending on the resulting ownership and control structure, the company said it may no longer be required to consolidate Hivello, which would remove those liabilities from Blockmate’s consolidated balance sheet.
"This update continues the reset in how we communicate with the market,” Blockmate Ventures chairman Domenic Carosa said in a statement.
“On Wyoming, we remain engaged with multiple parties and we're progressing discussions with investors and strategic partners at Datacloud Global Congress in France next week. Separately, we want shareholders to understand that the consolidated liability shown on our balance sheet is driven by Hivello-level convertible SAFE's that are expected to convert to equity and is not reflective of a parent-level obligation."