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CleanSpark Signs $6.6 Billion Data Center Lease as Bitcoin Miner Pivots to Compute
CleanSpark, the Nasdaq-listed bitcoin miner, said on July 14 that it has signed a 20-year infrastructure lease with an unnamed high-investment-grade global technology company at its campus in Sandersville, Georgia.
The deal marks the firm’s largest step from pure bitcoin mining toward high-performance computing for hyperscale clients.
The lease covers data center infrastructure that will support 175 megawatts of critical IT load. CleanSpark expects the initial term to generate $6.6 billion in contracted revenue, a figure that would climb to $11.6 billion if the tenant exercises both extension options.
The company has recently announced that it would repurpose part of its electricity capacity and mining infrastructure to power AI data centers, aiming to diversify beyond bitcoin mining.
CleanSparks’ average annual net operating income from the agreement should reach $330 million. First deliveries are due in the fourth quarter of 2027.
In a further sign of the tenant’s appetite, the two sides executed a letter of intent and an exclusivity arrangement covering CleanSpark’s entire Texas portfolio, a base of up to 885 megawatts of secured and planned power capacity. Should that convert into firm contracts, CleanSpark’s transition into an infrastructure landlord for artificial-intelligence and cloud workloads would deepen.
CleanSpark holds 13,924 bitcoin
The announcement lands as CleanSpark’s core mining business posts records. The company produced 614 bitcoin in early July and lifted its operational hashrate to 50 exahashes per second, a company high.
Treasury holdings rose to 13,924 bitcoin, one of the larger corporate stashes among public miners. Management has kept much of its mined bitcoin rather than sell into the market, a bet on the asset’s long-term price.
Wall Street has warmed to the compute pivot. Citizens began coverage with an Outperform rating and a $27 price target, citing the shift toward hyperscale compute capacity. Chardan lifted its target to $19 from $16 and kept a Buy rating. Both notes framed the Sandersville lease as proof that CleanSpark can monetize its power and land assets beyond mining, where margins swing with bitcoin’s price and network difficulty.
Investor reaction has been mixed. Shares of CleanSpark gained more than 20% in pre-market on the news but have since dropped to 9% gains on the day.
The Georgia lease offers somewhat of a hedge. Contracted rent from a creditworthy tenant provides a revenue stream that does not rise and fall with hash prices, while the company keeps its mining fleet and bitcoin treasury intact.
The next test is execution: bringing 175 megawatts online before the close of 2027 and turning the Texas letter of intent into signed leases.
This post CleanSpark Signs $6.6 Billion Data Center Lease as Bitcoin Miner Pivots to Compute first appeared on Bitcoin Magazine and is written by Micah Zimmerman.