Mitesco, Inc. (OTC-QB: MITI) announced today a strategic partnership with United Commercial Partners, a Wilmington, Delaware-based financial services firm, to provide development financing for its data center business unit, Centcore. The partnership is designed to support project-level financing for Centcore’s modular small-format data center initiatives, enabling faster deployment of capital-efficient facilities to meet growing demand for edge compute, AI workloads, and localized cloud infrastructure.
Chris Rappucci of United Commercial Partners stated, “Partnering with Mitesco and Centcore creates a compelling opportunity to scale nationally across digital infrastructure projects. Our team brings deep experience in commercial and specialty financing, well beyond traditional residential lending. We look forward to supporting Centcore’s expansion with flexible capital solutions designed for growth-oriented data center development.”
Centcore’s small-format data centers are purpose-built for enterprise, government, and AI applications, emphasizing rapid deployment, scalable capacity, and proximity to end users. The financing partnership is expected to streamline development timelines and improve project economics. Mack Leath, CEO of Mitesco, noted, “This partnership moves us from strategy to execution. We are actively evaluating three powered sites with existing HVAC and infrastructure, which positions us to convert facilities into operational Centcore data centers faster and at significantly lower cost than ground-up construction.”
Leath explained that combining lower-cost buildouts with competitive financing should allow Centcore to reach positive cash flow materially sooner than traditional data center models. He also highlighted parallel progress on the software front: “We are advancing our software strategy and are currently in discussions with three application software businesses about integrating their operations into newly formed subsidiaries. Our goal is to build a vertically integrated platform - pairing infrastructure with owned software - similar to our deployment of the AI-based Robo Agent.”
Leath emphasized the strategic advantage of owning software deployed on Centcore infrastructure: “Hosting third-party software creates baseline revenue, but the real margin opportunity comes from applications we own and deploy. Customers running our software inside Centcore facilities will also have strong incentives to consolidate additional workloads away from hyperscalers like AWS, Microsoft Azure, and Google Cloud. This integrated approach positions Mitesco to accelerate revenue growth, expand margins, and build a differentiated infrastructure-plus-software ecosystem.”
Mitesco continues to advance Centcore as its dedicated data center business unit as part of a broader strategy focused on digital infrastructure, AI enablement, scalable technology solutions, and accretive acquisitions. The partnership with United Commercial Partners is a key step in executing this strategy, providing the capital structure needed to scale.
