CleanSpark signs $6.6bn data centre lease with tech tenant
CleanSpark has secured a $6.6 billion, 20-year lease for its Georgia campus, validating the Bitcoin miner's strategic pivot towards artificial intelligence infrastructure.
CleanSpark has signed a $6.6 billion lease with an unnamed global technology company for its Georgia data centre campus. The agreement spans 20 years and includes two five-year extension options that could push the total contract value to $11.6 billion. The tenant will deploy 175 megawatts of power at the site, with deliveries scheduled to begin in the fourth quarter of 2027.
The identity of the lessee remains confidential, but CleanSpark indicated it carries strong credit metrics. "While the tenant remains confidential, they are a global technology company among the high-investment-grade cohort," CleanSpark wrote in a news release. Securing a tenant with this credit profile provides CleanSpark with highly predictable, long-term cash flows, a stark contrast to the volatile revenue streams associated with its legacy Bitcoin mining operations.
This contract is the clearest monetization yet of the artificial intelligence strategy CleanSpark initiated last October. The 175-megawatt power allocation highlights the immense energy requirements of modern AI computing. Scheduling the initial delivery for late 2027 provides CleanSpark with a timeline to adapt its Georgia campus for the specific demands of an enterprise-grade technology operation.
A $6.6 billion commitment over two decades provides a massive baseline of contracted infrastructure revenue. If the two five-year extensions are eventually exercised, the life-of-contract value would reach $11.6 billion. For a company historically valued on the fluctuating margins of cryptocurrency mining, locking in long-term, utility-scale contracts fundamentally alters the investment thesis.
Equity markets responded immediately to the structural shift in CleanSpark's business model. Shares rose 10% on the news, bringing the year-to-date gain to 18%. The stock was trading at $13.65 following the announcement, reflecting investor confidence in the company's transition away from pure-play cryptocurrency mining towards serving the broader technology sector.
