Key Highlights
- CleanSpark stock rose 9% after announcing a 20-year AI infrastructure lease worth up to $6.6 billion in contracted revenue.
- The deal expands CleanSpark beyond Bitcoin mining by providing power and data center infrastructure for AI and large-scale computing.
- CleanSpark continues to grow its mining business, increasing its Bitcoin holdings to 13,924 BTC while reaching a record 50 EH/s hashrate.
CleanSpark (NASDAQ: CLSK) jumped about 9% on Tuesday after the Bitcoin mining company announced a 20-year infrastructure lease with a high-investment-grade global technology company at its Sandersville, Georgia, campus.
Investors initially reacted strongly to the announcement, sending the stock up more than 20% in pre-market trading before gains moderated to around 9% during the regular session. At the time of this writing, the stock was trading around $13.38, up from an intraday low of $12.38.
According to the official release, the lease covers data center infrastructure that will support 175 megawatts of critical IT load. In simple terms, the company will provide the power and facilities needed for the technology company to run large-scale computing systems used for AI and other advanced digital workloads. CleanSpark said the first deliveries under the agreement are expected in the fourth quarter of 2027.
$6.6 billion deal creates new revenue stream
The company said the 20-year lease is expected to generate around $6.6 billion in revenue. If the customer decides to use two additional five-year extension options included in the agreement, the total contracted revenue could rise to about $11.6 billion. CleanSpark also expects the project to produce an average annual net operating income of about $330 million.
Alongside the lease, the technology company signed a letter of intent and an exclusivity arrangement covering CleanSpark’s Texas portfolio. The portfolio includes 718 acres of land with up to 885 megawatts of secured and planned power capacity. While this is not yet a final lease, it allows the two companies to discuss expanding their partnership to more locations in the future.
“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,” said Matt Schultz, CleanSpark’s chief executive officer and chairman.
CleanSpark expands beyond Bitcoin mining
The agreement builds on the company’s broader strategy of using part of its power capacity and infrastructure to support AI data centers.
Rather than relying solely on bitcoin mining, CleanSpark is expanding into leasing power and data center infrastructure to companies requiring large-scale computing capacity. The approach allows the company to generate additional revenue from the infrastructure it has already developed.
Bitcoin mining remains a core business
Despite its expansion into AI infrastructure, CleanSpark continues to grow its bitcoin mining operations.
The company said it produced 614 bitcoin in early July while increasing its operational hashrate to a record 50 exahashes per second. Its bitcoin treasury also grew to 13,924 BTC, making it one of the larger bitcoin holders among publicly traded mining companies.
Wall Street sees value beyond mining
Wall Street analysts also pointed to the agreement as a positive step. Citizens began coverage of the company with an Outperform rating and a $27 price target, while Chardan raised its price target to $19 from $16 and maintained its Buy rating.
Both firms said the Sandersville lease shows CleanSpark can generate revenue from its power and land assets in addition to its bitcoin mining business.
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