US$2.3 million in cash. That is what FingerMotion, Inc. agreed on Sept. 23 to pay for all of Newbit Technology Inc., a British Columbia holding company whose main asset is a 9.9 megawatt site in the County of Newell, near Brooks. The purchase is cash-free and debt-free with no indemnity holdback or escrow, according to an exhibit to a Form 8-K FingerMotion filed with the U.S. Securities and Exchange Commission on Sept. 29.
FingerMotion trades on Nasdaq and describes its existing business as mobile payments, phone recharge and data analytics in China. It wants the Newell site for artificial intelligence computing. Divide the price by the capacity and the buyer is paying about US$232,000 a megawatt, by our arithmetic. None of those megawatts is running.
Key facts
- FingerMotion, Inc. agreed on Sept. 23, 2026 to acquire 100% of Newbit Technology Inc. for US$2.3 million in cash, according to an exhibit to its Form 8-K filed with the U.S. Securities and Exchange Commission on Sept. 29, 2026.
- Newbit Technology Inc. holds a 9.9 MW behind-the-meter site in the County of Newell, Alberta, which FingerMotion’s Sept. 29, 2026 filing names Brooks Campus #1.
- Generating equipment and movable plant at the County of Newell site are excluded from the Newbit purchase and are to be removed before closing, per FingerMotion’s Sept. 29, 2026 Form 8-K exhibit.
- Closing of the Newbit acquisition requires a new gas supply agreement between Pivotal Energy Partners and FingerMotion, with an outside closing date of Oct. 29, 2026, per the same filing.
US$2.3 million buys permits, a lease and a gravel pad
The filing is specific about what changes hands. Newbit holds a surface lease with the Eastern Irrigation District, County of Newell development permit 2022055, and building and electrical permits. It also holds a road use agreement with Canadian Natural Resources Limited, a pipeline right of way with gas infrastructure, environmental approvals, and a registration with the Alberta Utilities Commission under its Rule 007. The physical assets are foundations, hardstand, drainage and fencing, taken as-is.
The money moves in three steps. A US$230,000 deposit already sits in trust. A second US$230,000 comes due on execution, with roughly US$1.84 million paid at closing. That puts 20% of the price down before any closing condition is met, by our arithmetic.
The generators leave before FingerMotion arrives
Behind-the-meter means the site makes its own electricity from natural gas on location instead of drawing it from the provincial grid. A site built that way is worth what its fuel contract and its generating sets are worth, because those are the only source of power it has. Take either away and the megawatt figure describes a permit, not a supply.
Newbit’s sellers take the generating equipment and movable plant with them before closing. The fuel contract is a closing condition: Pivotal Energy Partners has to sign a new gas supply agreement with FingerMotion and consent to the change of control, and the Eastern Irrigation District has to consent as well. The filing is plain about what that leaves. The agreement “does not by itself create operating generation or contracted compute revenue.”
For scale, 9.9 MW running every hour of a year would produce about 86,700 megawatt hours, our arithmetic. FingerMotion has to buy the machines and the gas before the first of those hours can be sold to anyone.
The deal works only if two more contracts follow
In the good case, Pivotal signs before the outside date, the shares change hands, and FingerMotion lands both generating equipment and a computing customer on a term contract. Then US$2.3 million looks like a fair price for a site where somebody else already settled the lease, the road, the pipeline right of way and the municipal permit.
In the bad case, the gas agreement never comes together and the deal lapses. Or it closes and no customer signs. FingerMotion then owns fencing, foundations and a pipe in the ground in southern Alberta, bought with no escrow to fall back on.
A 9.9 MW site is a permit number until gas burns in a generator and someone pays for what it runs. That is the right standard for every AI announcement aimed at this province, including the tools being sold to Alberta construction and farm businesses. Brooks would gain from a working site. A headline gets it nothing.
The first test has a date. Pivotal Energy Partners signs a new gas supply agreement in time for a closing by Oct. 29, 2026, or the outside date passes and Newbit stays with its current shareholders.
