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CleanSpark signs $6.6B AI infrastructure lease for 175 MW in Georgia
The 20-year triple-net lease at its Sandersville, Georgia campus is valued at about $6.6B, but CleanSpark still estimates it must finance roughly $1.8B to $2.1B in data center build costs.
CleanSpark has signed a 20-year AI infrastructure triple-net lease for 175 megawatts of IT load at its Sandersville, Georgia campus, with the company estimating an initial contract value of about $6.6 billion. CryptoSlate reports the lease is designed to generate average annual net operating income of roughly $330 million over the initial term, with annual escalators included.
CleanSpark disclosed the deal in a Form 8-K on July 14, saying it still needs to secure financing for an estimated $1.75 billion to $2.10 billion to build the data center. The company estimated landlord project costs of $10 million to $12 million per megawatt, implying the total build cost range.
The announcement does not name the tenant, lender, or financing terms, and it leaves key elements like the draw schedule and rent-commencement timing undisclosed. CleanSpark expects phased delivery to begin in the fourth quarter of 2027, and the full delivery and rent-start schedules were not provided.
Under the lease structure, the tenant is described as a high-investment-grade global technology company, with two optional five-year extensions. CleanSpark said the eventual funding and lease terms will affect how much leverage, dilution, or Bitcoin-collateral risk could be shifted to the company and its shareholders.
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