DENVER, Colo. (247marketnews.com) — CleanSpark (NASDAQ:CLSK) announced what could become one of the most significant commercial agreements in its history, signing a 20-year triple-net (NNN) lease with a confidential high-investment-grade global technology company for its Sandersville, Georgia, data center campus. The agreement is expected to generate approximately $6.6 billion in contracted revenue over the initial lease term and could expand to $11.6 billion if both five-year extension options are exercised. The tenant is expected to begin deploying production-grade computing infrastructure utilizing 175 megawatts (MW) of critical IT load beginning in the fourth quarter of 2027.
The announcement represents another major step in CleanSpark’s evolution beyond its roots as a Bitcoin mining company into a broader digital infrastructure developer. Rather than simply consuming electricity for cryptocurrency mining, the company is increasingly positioning its power assets, land holdings, and infrastructure to serve hyperscale computing customers. The economics are notable: management estimates the lease could generate an average annual net operating income (NOI) contribution of approximately $330 million, with nearly 100% cumulative NOI contribution over the initial contract period under the triple-net structure.
The opportunity may extend well beyond Georgia. Alongside the lease, the unnamed technology company signed a letter of intent and exclusivity agreement covering CleanSpark’s entire Texas development portfolio, encompassing 718 acres and up to 885 MW of secured and planned power capacity across Sealy and Brazoria. While no definitive lease has yet been announced for those properties, the exclusivity arrangement suggests discussions are underway regarding a significantly larger potential expansion of the relationship.
The transaction reflects a broader trend reshaping the infrastructure sector as demand for artificial intelligence, cloud computing, and high-performance computing drives unprecedented investment in data centers and electrical capacity. Companies with access to large-scale, reliable, low-cost power have become increasingly attractive partners for technology firms seeking to secure long-term computing infrastructure. CleanSpark’s Sandersville campus was selected for its available power, scalable infrastructure, and ability to support high-density computing workloads, attributes that have become increasingly valuable as AI infrastructure spending accelerates globally.
Although the tenant’s identity remains undisclosed, management emphasized that it is a high-investment-grade global technology company, a factor that could enhance financing flexibility for the project while reducing long-term counterparty risk. Investors should also recognize that the project requires substantial capital investment, with landlord development costs estimated at $10 million to $12 million per MW of critical IT load, and deployment is not expected to begin until late 2027. Nevertheless, the scale of the agreement underscores CleanSpark’s strategy of monetizing its extensive power portfolio through long-duration infrastructure contracts tied to the rapidly expanding demand for compute capacity.
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