Signing Day Sports Signs Non-Binding Letter of Intent to Acquire All Equity of blockchAIn Digital Infrastructure, a Profitable Data Hosting Company
Signing Day Sports (NYSE: SGN) has signed a non-binding letter of intent to acquire blockchAIn Digital Infrastructure in an all-equity transaction valued at approximately $215 million. blockchAIn DI, which generated unaudited revenue of $26.8 million and net income of $4.0 million in 2024, operates in crypto mining, AI, and HPC data hosting markets.
The company currently operates a 40 MW crypto mining facility in South Carolina with expansion capability to 50 MW, and is developing a new 150 MW facility in Texas for activation in late 2026. Post-merger, blockchAIn DI shareholders will own approximately 91.5% of the combined company, while SGN shareholders will retain 8.5%.
The LOI includes a 45-day exclusivity period ending April 11, 2025. The transaction completion is subject to due diligence, definitive agreements, regulatory approvals, and other closing conditions.
Signing Day Sports (NYSE: SGN) ha firmato una lettera di intenti non vincolante per acquisire blockchAIn Digital Infrastructure in una transazione interamente azionaria del valore di circa 215 milioni di dollari. blockchAIn DI, che ha generato ricavi non verificati di 26,8 milioni di dollari e un utile netto di 4,0 milioni di dollari nel 2024, opera nei mercati del mining di criptovalute, dell'IA e dell'hosting di dati HPC.
L'azienda attualmente gestisce un impianto di mining di criptovalute da 40 MW nella Carolina del Sud con la possibilità di espansione a 50 MW, e sta sviluppando un nuovo impianto da 150 MW in Texas previsto per attivazione alla fine del 2026. Dopo la fusione, gli azionisti di blockchAIn DI possiederanno circa il 91,5% della società combinata, mentre gli azionisti di SGN manterranno l'8,5%.
La lettera di intenti include un periodo di esclusività di 45 giorni che termina l'11 aprile 2025. Il completamento della transazione è soggetto a due diligence, accordi definitivi, approvazioni normative e altre condizioni di chiusura.
Signing Day Sports (NYSE: SGN) ha firmado una carta de intención no vinculante para adquirir blockchAIn Digital Infrastructure en una transacción completamente en acciones valorada en aproximadamente 215 millones de dólares. blockchAIn DI, que generó ingresos no auditados de 26,8 millones de dólares y un ingreso neto de 4,0 millones de dólares en 2024, opera en los mercados de minería de criptomonedas, IA y alojamiento de datos HPC.
La empresa actualmente opera una instalación de minería de criptomonedas de 40 MW en Carolina del Sur con capacidad de expansión a 50 MW, y está desarrollando una nueva instalación de 150 MW en Texas para activarse a finales de 2026. Después de la fusión, los accionistas de blockchAIn DI poseerán aproximadamente el 91,5% de la empresa combinada, mientras que los accionistas de SGN retendrán el 8,5%.
La carta de intención incluye un período de exclusividad de 45 días que finaliza el 11 de abril de 2025. La finalización de la transacción está sujeta a la debida diligencia, acuerdos definitivos, aprobaciones regulatorias y otras condiciones de cierre.
Signing Day Sports (NYSE: SGN)는 blockchAIn Digital Infrastructure를 인수하기 위한 비구속적인 의향서를 체결하였으며, 이 거래는 약 2억 1500만 달러에 달하는 전액 주식 거래입니다. blockchAIn DI는 2024년에 비감사 수익 2680만 달러와 순이익 400만 달러를 기록했으며, 암호화폐 채굴, AI 및 HPC 데이터 호스팅 시장에서 운영되고 있습니다.
현재 이 회사는 남부 캐롤라이나에 40MW 암호화폐 채굴 시설을 운영하고 있으며, 50MW로 확장할 수 있는 능력을 갖추고 있으며, 2026년 말 가동을 목표로 하는 텍사스에 150MW 시설을 개발 중입니다. 합병 후, blockchAIn DI의 주주들은 결합된 회사의 약 91.5%를 소유하게 되며, SGN의 주주들은 8.5%를 유지하게 됩니다.
LOI에는 2025년 4월 11일에 종료되는 45일의 독점 기간이 포함되어 있습니다. 거래 완료는 실사, 최종 계약, 규제 승인 및 기타 종료 조건에 따라 달라집니다.
Signing Day Sports (NYSE: SGN) a signé une lettre d'intention non contraignante pour acquérir blockchAIn Digital Infrastructure dans le cadre d'une transaction entièrement en actions d'une valeur d'environ 215 millions de dollars. blockchAIn DI, qui a généré des revenus non audités de 26,8 millions de dollars et un bénéfice net de 4,0 millions de dollars en 2024, opère dans les marchés du minage de cryptomonnaies, de l'IA et de l'hébergement de données HPC.
L'entreprise gère actuellement une installation de minage de cryptomonnaies de 40 MW en Caroline du Sud avec une capacité d'expansion à 50 MW, et développe une nouvelle installation de 150 MW au Texas prévue pour activation fin 2026. Après la fusion, les actionnaires de blockchAIn DI posséderont environ 91,5 % de la société combinée, tandis que les actionnaires de SGN conserveront 8,5 %.
La lettre d'intention inclut une période d'exclusivité de 45 jours se terminant le 11 avril 2025. La finalisation de la transaction est soumise à une due diligence, des accords définitifs, des approbations réglementaires et d'autres conditions de clôture.
Signing Day Sports (NYSE: SGN) hat ein nicht verbindliches Absichtsschreiben unterzeichnet, um blockchAIn Digital Infrastructure in einer Transaktion, die vollständig in Aktien erfolgt und auf etwa 215 Millionen Dollar geschätzt wird, zu erwerben. blockchAIn DI, das im Jahr 2024 nicht geprüfte Einnahmen von 26,8 Millionen Dollar und einen Nettogewinn von 4,0 Millionen Dollar erzielt hat, ist in den Bereichen Krypto-Mining, KI und HPC-Datenhosting tätig.
Das Unternehmen betreibt derzeit eine 40-MW-Krypto-Mining-Anlage in South Carolina mit der Möglichkeit zur Erweiterung auf 50 MW und entwickelt eine neue 150-MW-Anlage in Texas, die Ende 2026 in Betrieb genommen werden soll. Nach der Fusion werden die Aktionäre von blockchAIn DI etwa 91,5 % des kombinierten Unternehmens besitzen, während die Aktionäre von SGN 8,5 % behalten werden.
Das LOI umfasst einen 45-tägigen Exklusivitätszeitraum, der am 11. April 2025 endet. Der Abschluss der Transaktion unterliegt der Due Diligence, endgültigen Vereinbarungen, regulatorischen Genehmigungen und anderen Abschlussbedingungen.
- Profitable acquisition target with $26.8M revenue and $4.0M net income in 2024
- Significant expansion potential with 200MW total planned capacity across facilities
- No cash payment required for acquisition
- Strategic entry into growing crypto mining, AI, and HPC markets
- Flexible business model allowing revenue mix optimization
- Significant shareholder dilution with current SGN shareholders retaining only 8.5% ownership
- Non-binding LOI with multiple closing conditions and regulatory approvals required
- Substantial change in business direction from sports recruitment to crypto/AI infrastructure
- Texas facility activation delayed until late 2026
- South Carolina facility expansion subject to utility approval
Insights
This proposed acquisition represents a reverse merger where blockchAIn Digital Infrastructure is effectively using Signing Day Sports as a public listing vehicle. With blockchAIn DI's securityholders set to own
The transaction values blockchAIn DI at approximately
The all-equity structure means SGN won't deplete cash reserves, but current shareholders face substantial dilution. Additionally, blockchAIn DI will appoint most board members and the new CEO, effectively taking control of the company.
This deal represents a strategic pivot into high-growth digital infrastructure with three key revenue streams: crypto mining hosting (current), self-operated crypto mining (planned for late 2025), and AI/HPC data hosting (targeted for new Texas facility). The modular approach provides flexibility to adjust the revenue mix based on market conditions.
The non-binding nature of this LOI means due diligence and definitive agreements must be completed within 45 days, introducing execution risk. This transaction fundamentally transforms SGN from a sports tech company into a player in the energy-intensive computing infrastructure market.
This acquisition positions the combined entity to capitalize on three distinct but related computing infrastructure markets - crypto mining hosting, self-operated crypto mining, and AI/HPC data hosting. The company's existing 40MW South Carolina facility with expansion capability to 50MW provides immediate operational capacity, while the planned 150MW Texas facility represents significant growth potential.
The strategy to transition from third-party hosting to self-operated crypto mining indicates a move up the value chain to capture higher margins. Meanwhile, the modular design of the Texas facility enables flexibility to adjust capacity allocation between crypto mining and AI/HPC workloads as market demand shifts.
The
From a technical standpoint, the 34.5kV grid connectivity for the Texas facility indicates robust power infrastructure necessary for large-scale computing operations. The phased deployment approach (100MW for crypto, 50MW for AI/HPC) represents a balanced risk strategy that allows for market testing while maintaining operational focus.
While crypto mining faces cyclical economics tied to cryptocurrency prices, the diversification into AI and HPC hosting addresses a rapidly growing market with different demand drivers, potentially providing more stable revenue streams as enterprise AI adoption accelerates.
blockchAIn Digital Infrastructure Generated Unaudited Revenue of
blockchAIn Digital Infrastructure Focused on Crypto Mining, Artificial Intelligence (“AI”), and High-Performance Computing (“HPC”) Data Hosting Markets
blockchAIn Digital Infrastructure Expected to Expand into U.S.-based Crypto Mining
SCOTTSDALE, Ariz., April 14, 2025 (GLOBE NEWSWIRE) -- Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today announced the signing of a non-binding letter of intent (“LOI”) to acquire
In 2024, blockchAIn Digital Infrastructure generated unaudited revenue of
The market for digital infrastructure—including crypto mining, HPC, and AI-related computing—is evolving rapidly as demand for energy-efficient processing power continues to grow. Amid increasing sustainability standards and renewed emphasis on domestic infrastructure, blockchAIn Digital Infrastructure is positioned to pursue opportunities across a wide range of compute-intensive applications.
blockchAIn Digital Infrastructure’s current operations include a 40 MW crypto mining hosting facility in South Carolina with expansion capability to 50 MW for third-party crypto miners in South Carolina, subject to utility approval. blockchAIn Digital Infrastructure anticipates transitioning to internally owning and mining crypto currency at their South Carolina facility in late 2025 or early 2026, to facilitate revenue and earnings growth. blockchAIn Digital Infrastructure is also in the process of commissioning a new 150MW crypto mining, AI and HPC data hosting facility in Texas with favorable economics with 34.5kV of interconnectivity to the grid for activation in late 2026. The Texas facility can be modularly built providing flexibility for crypto mining and/or AI and HPC data hosting activities. It is currently anticipated that the first 100MW will be initially focused on internally owned crypto mining operations and the remaining 50MW of capacity used for AI and HPC data hosting. This capital efficient and flexible modular business model will provide blockchAIn DI with optionality to pursue different revenue mixes as the crypto mining, AI and HPC markets continue to develop.
Signing Day Sports views the proposed transaction as a compelling opportunity to enhance its platform by combining with a technology-driven business with strong fundamentals and scalable infrastructure.
The transaction between blockchAIn Digital Infrastructure and Signing Day Sports is intended to result in the combined company being traded on the NYSE American. blockchAIn Digital Infrastructure will continue to operate under blockchAIn DI’s management team, and it is intended that blockchAIn Digital Infrastructure will merge with and into a newly-formed subsidiary of Signing Day Sports with blockchAIn Digital Infrastructure, surviving the merger and become a wholly-owned subsidiary of Signing Day Sports.
“This transaction gives us a highly strategic entry point into the digital infrastructure space—one that is already revenue-generating, cost-efficient, and well-positioned to scale,” said Danny Nelson, Chief Executive Officer of Signing Day Sports. “blockchAIn Digital Infrastructure provides a platform anchored by crypto mining operations, HPC capacity, and a clear roadmap toward AI workload enablement. We are excited about the potential to participate in this growing market through a combined company with proven assets, operational depth, and a strong financial foundation. Our teams will work expeditiously to move the transaction forward and we anticipate completing the due diligence and definitive docs within the next 45 days.”
The LOI is non-binding, and the transaction's completion remains subject to customary due diligence, execution of definitive agreements, regulatory and stock exchange approvals, and other standard closing conditions. Signing Day Sports intends to provide further updates as discussions progress.
Terms of the Transaction
The business combination is expected to be effectuated through a structure, whereby blockchAIn Digital Infrastructure will merge with and into a newly formed subsidiary of Signing Day Sports with blockchAIn Digital Infrastructure surviving the merger and becoming a wholly-owned subsidiary of Signing Day Sports. The parties may also agree upon a to-be-determined alternative structure based on the appropriate legal, tax and accounting structuring advice of their respective representatives. Under the LOI, the consideration to be paid at closing to blockchAIn Digital Infrastructure or their securityholders will be comprised of shares of Signing Day Sports common stock with a value of approximately
It is anticipated that the definitive agreements will contain customary representations, warranties and covenants made by Signing Day Sports and blockchAIn Digital Infrastructure, including covenants relating to both parties using their commercially reasonably efforts to cause the transactions contemplated by the agreement to be satisfied, covenants regarding obtaining the requisite approval of Signing Day Sports’ stockholders, covenants regarding indemnification of directors and officers, and covenants regarding Signing Day Sports’ and blockchAIn Digital Infrastructure’s conduct of their respective businesses between the date of signing of definitive agreements and the closing, and other customary conditions to closing. It is anticipated that definitive agreements will also contain certain termination rights for both Signing Day Sports and blockchAIn Digital Infrastructure, and, in connection with the termination of any such definitive agreements under certain circumstances, Signing Day Sports and blockchAIn Digital Infrastructure may be required to pay the other party a termination fee.
It is anticipated that any definitive agreements will need to be approved by both of the Board of Directors of Signing Day Sports and blockchAIn Digital Infrastructure respectively. Signing Day Sports anticipates it will receive a fairness opinion in connection with the business combination in the event definitive agreements are executed. Entry into definitive agreement is subject to (i) legal, tax and accounting structuring advice, (ii) the satisfactory completion of due diligence investigation by the parties on all aspects of business, operations, financial condition and other assets and liabilities appropriate for a transaction of this nature, and (iii) the satisfaction of the conditions described in the LOI.
Although generally non-binding, the LOI contains certain binding exclusivity and confidentiality terms and other binding terms and provisions. The LOI provides that none of the parties will consider any other similar transaction for a period that will continue until the earlier of 45 days from the date of the LOI (April 11, 2025) or the execution of definitive agreements, subject to certain extension provisions. Following the expiration of such exclusivity period, the LOI may be terminated by any party for any reason by written notice to the other parties.
Advisors
Advisors to the transaction include Maxim Group LLC, which is serving as exclusive financial advisor to blockchAIn Digital Infrastructure. Loeb & Loeb LLP is serving as counsel to blockchAIn Digital Infrastructure. Bevilacqua PLLC is serving as counsel to Signing Day Sports.
Signing Day Sports
Signing Day Sports' mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports' app allows student-athletes to build their Signing Day Sports' recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. For more information on Signing Day Sports, go to https://bit.ly/SigningDaySports.
Forward-Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, including without limitation, the parties’ ability to enter into definitive agreements and complete the transaction, blockchAIn Digital Infrastructure’s ability to integrate its business into that of a publicly listed company post-merger, the ability of the parties to obtain all necessary consents and approvals in connection with the transaction, obtain NYSE American clearance of a listing application in connection with the transaction, the parties’ ability to obtain their respective equity securityholders’ approval, obtain sufficient funding to maintain operations and develop additional services and offerings, market acceptance of blockchAIn Digital Infrastructure’s current products and services and planned offerings, competition from existing or new offerings that may emerge, impacts from strategic changes to the parties’ business on net sales, revenues, income from continuing operations, or other results of operations, the parties’ ability to attract new users and customers, the parties’ ability to retain or obtain intellectual property rights, the parties’ ability to adequately support future growth, the parties’ ability to comply with user data privacy laws and other current or anticipated legal requirements, and the parties’ ability to attract and retain key personnel to manage their business effectively. These risks, uncertainties and other factors are expected to be further described in a proxy statement/registration statement to be filed with the Securities and Exchange Commission relating to this transaction. See also the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These risks, uncertainties and other factors are, in some cases, beyond the parties’ control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if these underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
SGN@crescendo-ir.com
FAQ
What is the value of SGN's acquisition of blockchAIn Digital Infrastructure?
What are blockchAIn Digital Infrastructure's 2024 financial results?
What is the planned capacity of SGN's Texas facility after the merger?
How will the ownership structure change after SGN's merger with blockchAIn DI?
When does SGN expect to complete the blockchAIn Digital Infrastructure acquisition?
