CleanSpark said on July 14 that it has entered into a 20-year infrastructure lease with an unnamed global technology company described as having a high investment-grade profile. The agreement applies to data center infrastructure at the company’s campus in Sandersville, Georgia, and marks CleanSpark’s biggest move yet away from a pure bitcoin mining model and toward high-performance computing services for hyperscale customers.
$6.6 billion in contracted revenue tied to 175 megawatts
The lease covers infrastructure designed to support 175 megawatts of critical IT load. CleanSpark said the initial term is expected to generate $6.6 billion in contracted revenue. If the tenant uses both extension options, total revenue under the arrangement would increase to $11.6 billion.
The company said average annual net operating income from the agreement should reach $330 million. First deliveries are scheduled for the fourth quarter of 2027.
CleanSpark recently said it would repurpose part of its electricity capacity and mining infrastructure to power AI data centers as it seeks revenue streams beyond bitcoin mining. This lease is its clearest step so far in that direction.
Texas portfolio also covered by letter of intent
In another sign of the tenant’s interest, the two sides also executed a letter of intent and an exclusivity arrangement covering CleanSpark’s full Texas portfolio. That portfolio represents up to 885 megawatts of secured and planned power capacity.
If those discussions turn into binding contracts, CleanSpark’s shift toward acting as an infrastructure landlord for artificial intelligence and cloud workloads would become more substantial.
Mining operations continue to post company records
The announcement came as CleanSpark’s mining business was also reporting record operating figures. The company said it produced 614 bitcoin in early July and raised its operational hashrate to 50 exahashes per second, the highest level in its history.
Its bitcoin treasury climbed to 13,924 BTC, which the report described as one of the larger holdings among publicly traded miners. Management has kept much of the bitcoin it mined rather than selling it into the market, reflecting a long-term bet on the asset’s price.
Analyst views and market reaction diverged
Wall Street research has turned more constructive on the company’s compute strategy. Citizens initiated coverage with an Outperform rating and a $27 price target, citing the move toward hyperscale compute capacity. Chardan raised its target to $19 from $16 and maintained a Buy rating.
Both firms treated the Sandersville lease as evidence that CleanSpark can generate value from its power and land assets outside mining, where margins fluctuate with bitcoin prices and network difficulty.
Investor reaction, though, was mixed. CleanSpark shares rose more than 20% in pre-market trading after the announcement, but later pulled back to a 9% gain on the day.
Bitcoin Magazine said the Georgia lease offers a degree of protection because contracted rent from a creditworthy tenant creates revenue that does not move with hash prices, while CleanSpark keeps both its mining fleet and bitcoin treasury in place.
The next major task is execution: bringing 175 megawatts online before the end of 2027 and turning the Texas letter of intent into signed lease agreements.
The story first appeared in Bitcoin Magazine and was written by Micah Zimmerman.
