VERO BEACH, Fla., July 28, 2026 (GLOBE NEWSWIRE) — Mitesco, Inc. (OTCQB: MITI) (“Mitesco” or the “Company”) today announced progress across its artificial intelligence software, distributed edge computing, and strategic growth initiatives as the company continues to execute on its long-term business plan and evaluate strategic acquisition opportunities.
The company currently operates through two main business segments: Centcore, its data center subsidiary, and Vero Technology Ventures (VTV), its software development division.
Centcore originally entered the market through a colocation agreement with a data center facility in Melbourne, Florida. However, we terminated that agreement in late 2025 due to operational costs that made us uncompetitive in an evolving market environment. In the first quarter of fiscal year 2026, Centocor announced a strategic focus on developing and operating small footprint data centers, typically for facilities of approximately 10,000 square feet. Building on that strategy, the company recently announced plans to deploy an edge computing network utilizing its proprietary TC/DC modular data center node design aimed at residential, rural, and office-based deployments.
Vero Technology Ventures’ business is focused on the development and commercialization of software and artificial intelligence solutions. The company’s flagship AI platform, Robo Agent, is designed to enhance sales productivity and workflow automation, with an initial market focus on the residential real estate sector, with future expansion planned into financial services and related industries.
In addition, VTV has developed Sportzfolio, a digital marketplace platform for listing, marketing and selling sports-related properties and facilities. The platform supports a wide range of assets including pickleball, golf, tennis, youth activities, and other specialized recreational facilities. Sportzfolio is currently operational and has the same user experience and property search capabilities as the leading online real estate marketplaces.
VTV: Short-term software initiatives
“While neither application is yet profitable, early prototypes of RoboAgent are being tested with a small number of agents with varying levels of experience and technical skill,” CEO Brian Varania said in a statement. We believe we will be able to produce the first licenses in the fourth quarter of fiscal 2026 to deploy this version. It is intended to be licensed only to large companies, most of which are publicly traded companies, and will be sold and supported by smaller companies in the industry.” A third party that specializes in supporting that segment of the market expects that revenue will be generated from master licenses for large users, with a retail fee of $100 per user, a portion of which will be paid to the master user for managing user accounts, leaving the company with significant net revenue per user without separate support costs. ”
The project is heavily influenced by executives at the largest publicly traded brokerage firm, which employs more than 84,000 agents. The software runs exclusively on the company’s Centcore data center platform. Additionally, management believes the same user base can participate in the deployment of the new TC/DC edge computing platform aimed at residential and rural installations.
Short-term data center activities
“The new data center effort is focused on edge computing and is underway with a small engineering group to build the first units and establish standards for large-scale assembly operations,” Varania said at the beginning of the data center discussion. “Responsible executives are leading the project and working with the company to design and assign tasks to the application software that will manage the network. Management is very confident in its plans to deploy up to 10,000 units over two to three years, leveraging the real estate agent user base.” Residential areas with large facilities on ranches and rural land, including public housing owners, and less-used areas such as golf courses and schools The current plan is for each location to pay $100 a month in “rent” for space and basic 110V power. Additionally, since TC/DC is battery powered, the power requirements are expected to be very low and no different from other consumer electronics. ”
The company plans to roll out three models of TC/DC: one with two processors, one with five processors, and one with 10 processors. Initial designs are considering using Apple’s A5 processor, but a second vendor version is also expected, perhaps using a processor from AMD or a similar provider. The whole concept is about low power consumption, so the “tokens per kWh” rating is an important factor. (Tokens are a measure of computing resources used in AI operations.) The units are similar to traditional garbage cans (hence the “TC” in the name), and come in versions meant for inside garages, fully weatherproof for outdoor environments, and versions that can be placed inside your home. Internet connectivity can be via satellite (Starlink), traditional internet (such as Comcast), or a private 5G wireless link. The battery system is charged by 110V or possibly by solar panels.
Pulte Homes recently announced a prototype effort in a similar vein, but it is much more expensive and complex than the TC/DC design.
The company is currently seeking similar relationships with other large production home builders and regional builders through connections with corporate real estate brokers. The larger relationship is also evaluating certain rural applications where barns and utility buildings can accommodate multiple units that use large amounts of “off-grid” power from solar panels.
Initial units are expected to cost around $10,000 each, but sales volumes will decline over time. After deducting operating costs (rent to homeowners, internet access, etc.), management believes that on the low end, revenue per unit could average up to $2,000 and, in certain uses, up to $5,000. Valania commented, “With a six-month payback, the potential profit margins could be quite large. Beyond our own user group, we intend to provide bandwidth to other users at scale who may contract to include Managed Service Provisioning (MSP) or perhaps run network partitioning from their own control center.”
To fund this expansion, the Company is considering a debt ‘pool’ approach at the subsidiary level and a royalty payment approach of 10% of sales until 100% of the investment is recovered, and then 5% of sales until a total of 150% has been recovered. Based on the current plan, dividends will be paid out for approximately 24 to 30 months and will not be dilutive to shareholders.
About Mitesco Co., Ltd.
Mitesco (OTCQB: MITI) is a growth-oriented technology company focused on platforms that improve efficiency, access and affordability. With extensive experience in business transformation, we invest in both organic initiatives and strategic acquisitions that drive shareholder value.
About Centcore LLC
Centcore, a division of Mitesco, Inc., is our data center specialist business unit. Centcore provides secure, scalable cloud services tailored to the needs of modern enterprises and the public sector. Centcore is a trusted provider of certified infrastructure and high availability solutions across the industry.
For more information, please visit www.centcoreusa.com.
About VERO Technology VENTURES, LLC
Vero Technology Ventures is the venture arm of Mitesco, which invests in productivity-focused cloud technologies designed for business and government applications. Areas of focus include infrastructure, process automation, analytics, artificial intelligence, automation, and data center tools. Entrepreneurs seeking capital and collaboration should contact info@mitescoinc.com.
Forward-looking statements
This press release contains forward-looking statements, including, without limitation, statements regarding new business expansion, data center development, and software acquisition initiatives. Words such as expect, anticipate, aim, project, intend, plan, believe, estimate, seek, assume, may, should, could, would, foresee, predict, anticipate, target, promise and similar expressions are intended to identify such forward-looking statements.
These forward-looking statements are based on our current plans, assumptions, beliefs and expectations. Actual results may differ materially due to risks including financing availability, execution risk, litigation risk and other factors disclosed in the Company’s filings with the Securities and Exchange Commission, available at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of our securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Investor contact information: jimmy caplan jimmycaplan@me.com (512) 329-9505
Company contact: Brian Varania Chief Executive Officer and Chief Financial Officer Mitesco Co., Ltd. bvalania@centcoreusa.com (610) 888-7509
