CleanSpark signs $6.6bn data center lease in AI pivot
Bitcoin miner CleanSpark has secured a $6.6 billion, 20-year lease with an unnamed technology firm, marking a significant step in its transition toward high-performance artificial intelligence infrastructure.
CleanSpark has agreed to a 20-year, triple-net lease worth $6.6 billion in contracted revenue for its Sandersville, Georgia data center. Under the terms of a triple-net lease, the tenant assumes responsibility for rent, insurance, and standard operating expenses. The unnamed, high-investment-grade global technology company will deploy 175 megawatts of critical IT load, with deliveries expected to begin in the fourth quarter of 2027. Two five-year extension options could push the total contract value to $11.6 billion.
The financial structure of the deal offers substantial margins for the bitcoin miner. CleanSpark estimated landlord project costs at $10 million to $12 million per megawatt of critical IT load. Against those capital requirements, the company projects an average annual net operating income contribution of roughly $330 million, with a cumulative contribution margin approaching 100%.
The Sandersville agreement represents only the initial phase of a much larger arrangement. The same tenant has locked up exclusivity over CleanSpark’s entire Texas portfolio. This footprint spans 718 acres and includes up to 885 megawatts of secured and planned power capacity across the company's Sealy and Brazoria campuses.
This contract validates the strategic shift CleanSpark began signaling in October 2025, when it hired a former Humain executive to lead data center expansion. The company reported record fiscal 2025 revenue the following month while repositioning itself as a compute platform capable of handling both bitcoin mining and AI workloads.
The move aligns CleanSpark with a broader migration of cryptocurrency miners pivoting to high-performance computing infrastructure. Bernstein analysts noted in May that miners stand to benefit from surging AI demand, pointing to more than $90 billion in recent AI data center deals. "This lease is a transformational moment for CleanSpark as we complete our evolution into a diversified digital infrastructure platform and begin monetizing our power portfolio at institutional scale," CEO and Chairman Matt Schultz said.
Equity markets reacted favorably to the announcement. CleanSpark shares surged more than 15% in pre-market trading on Tuesday, reaching $14.45. The stock had closed at $12.36 on Monday.
