CleanSpark said it signed a 20-year triple-net lease with a high-investment-grade global technology company for its Sandersville, Georgia data center campus, a deal it said will generate about $6.6 billion in contracted revenue over the initial term.
The lease covers 175 megawatts of critical IT load, with deliveries expected to begin in the fourth quarter of 2027. CleanSpark said the agreement includes two five-year extension options that could lift total contracted revenue to as much as $11.6 billion.
The company said the tenant also signed a letter of intent and exclusivity arrangement covering CleanSpark’s entire Texas portfolio, which spans 718 acres and up to 885 megawatts of secured and planned power capacity. That includes nearly 300 megawatts at the Sealy campus and an initial 300 megawatt demand load at Brazoria, with room to expand to 600 megawatts.
CleanSpark estimated the lease could contribute nearly 100% cumulative NOI margin, or about $330 million in annual NOI contribution on average, and said landlord project costs are expected to run $10 million to $12 million per megawatt of critical IT load.
The Sandersville campus has been operating since 2022, and CleanSpark said the site was chosen for its low-cost power, available capacity for high-density compute, and ability to support phased deployment. The company said it now controls more than 1.8 gigawatts of power, land and data centers across the U.S. As a result of these announcements, the company's shares have moved 6.8% on the market, and are now trading at a price of $13.20. If you want to know more, read the company's complete 8-K report here.
