FingerMotion runs a mobile payments platform in China. Three weeks ago it hired a new chief executive. This week she said the company is building gas-powered AI data centres in Western Canada.
The one executed step under that plan closed on August 17, when FingerMotion paid 1,674,480 of its own restricted shares — no cash — for a 9.9% stake in Lyken AI Computing Inc. The company said the all-stock transaction was valued at $500,000. Alset AI Ventures Inc. retains a 90.1% controlling interest in Lyken.
For anyone holding the stock, the gap between what has been done and what is planned is the story. FingerMotion has no signed sites, no power agreements and no enterprise customers. Everything beyond the Lyken stake is a framework that has not yet produced a binding contract.
Shares closed 129.53% higher at $0.3980, on dollar volume of about $560 million. Short volume on the session was 56.04% of reported volume.
New chief executive Jolie Kahn, appointed August 4, says the logic of the plan rests on a real constraint: grid interconnection queues in Western Canada and the United States have grown long enough that a connection request and actual delivered electricity have become different things. The company intends to generate power at each site from natural gas — including gas that would otherwise be flared — rather than wait for a grid connection. That work would fall to BlueFlare Energy Solutions, an Alberta developer, under a June 9 memorandum of understanding. BlueFlare would handle site origination, engineering, construction and field operations across Alberta, British Columbia and Saskatchewan, capabilities FingerMotion does not have internally and says it does not plan to build from scratch.
Lyken sits between basic colocation and the large cloud providers, offering managed compute, storage and networking to enterprise customers who need more than a rack but cannot contract at hyperscale. On August 25 FingerMotion noted a separate non-binding memorandum of understanding between Lyken and Singapore-based Swarmnet Solutions, covering an indicative framework for a 128-node NVIDIA B300 compute cluster. The company was clear that the agreement belongs to Lyken, not FingerMotion, that it is non-binding, and that no revenue figures have been agreed. The company's own August 27 release included a milestone table showing no site control, no power arrangement, no customer contract and no project financing — and said plainly that the release announced none of those things.
The company says it intends to finance each site against contracted customer revenue rather than draw on its corporate balance sheet. That depends on contracts it does not yet have.