CleanSpark Signs $6.6 Billion Data Center Lease as Bitcoin Miner Expands into Compute

CleanSpark, a Nasdaq-listed bitcoin mining company, announced it has entered into a 20-year infrastructure lease with an unnamed high-investment-grade global technology company at its Sandersville, Georgia campus. The lease will support data center infrastructure capable of handling 175 megawatts of critical IT load, with initial contracted revenue estimated at $6.6 billion, potentially rising to $11.6 billion if extension options are exercised.

This move represents a strategic pivot for CleanSpark from solely bitcoin mining towards high-performance computing for hyperscale clients, including artificial intelligence and cloud workloads. The company plans to repurpose part of its electricity capacity and mining infrastructure to power AI data centers, aiming to diversify revenue streams and reduce dependence on bitcoin prices.

The deal also includes a letter of intent and exclusivity agreement covering CleanSpark’s Texas portfolio, which could add up to 885 megawatts of power capacity if converted into firm contracts. The company’s bitcoin holdings stand at 13,924, and it produced 614 bitcoin in early July, with its operational hashrate reaching 50 exahashes per second.

Market reactions have been mixed, with shares initially rising over 20% pre-market but settling to a 9% gain during the trading day. Analysts have viewed the lease as a way for CleanSpark to monetize its land and power assets beyond mining, providing a more stable revenue stream less affected by bitcoin price fluctuations. The company aims to bring 175 megawatts online by late 2027 and to finalize leases in Texas.

This development underscores a broader trend of crypto miners expanding into infrastructure and compute services, especially for AI and cloud applications, which could influence the valuation and strategic positioning of similar firms in the sector.