The agreement is expected to generate approximately $6.6 billion in contracted revenue over the initial 20-year term, with potential revenue increasing to $11.6 billion if two five-year extension options are exercised. Under the triple-net lease agreement, the undisclosed technology company will deploy production-grade infrastructure at CleanSpark's Sandersville campus for computing workloads. Deliveries are expected to begin in the fourth quarter of 2027, with the initial deployment covering 175 megawatts of critical IT load.
The Sandersville campus was selected due to its access to power infrastructure, available capacity for high-density computing and ability to support phased data center development, according to the company. CleanSpark said the lease includes annual escalators and is expected to deliver a cumulative net operating income contribution margin of nearly 100%, with average annual NOI contribution estimated at approximately $330 million. The company expects landlord project costs to range between $10 million and $12 million per megawatt of critical IT load.
The company also announced that the tenant has entered into a letter of intent and exclusivity arrangement covering CleanSpark's entire Texas portfolio, which includes 718 acres and up to 885 megawatts of secured and planned power capacity. The Texas portfolio covered by the exclusivity arrangement includes CleanSpark's Sealy and Brazoria campuses. The Sealy site consists of 271 acres with nearly 300 megawatts of planned capacity, while the Brazoria campus includes 447 acres with transmission-level infrastructure supporting an initial 300 megawatts of demand load and potential expansion to 600 megawatts.
CleanSpark CEO and chairman Matt Schultz wrote that the agreement represented a significant milestone as the company expands beyond its historical operations and begins monetizing its power assets through long-term infrastructure agreements. "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," Schultz wrote. {"contentId":"23ad81fb-6147-3a79-a8b5-5fccba9dd06d","canonicalUrl":"https://www.proactiveinvestors.com/companies/news/1095429/cleanspark-shares-surge-after-company-secures-6-6b-data-center-lease-agreement-1095429.html","owningPropertyUrl":"https://finance.yahoo.com/technology/articles/cleanspark-shares-surge-company-secures-155300773.html","providerId":"proactive_us_504","commerceSiteId":"","site":"finance","region":"US","lang":"en-US","tags":[,,,,,,,,,,,,,,,],"categories":[,],"commerceArticleType":""} Terms and Privacy Policy EU DSA contact Privacy & Cookie Settings More Info
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