CleanSpark has entered a 20-year lease for its Sandersville, Georgia, data center with an unnamed global technology company, in a deal the company said represents $6.6 billion in contracted revenue. The tenant, described as a high-investment-grade firm, is set to deploy 175 megawatts of critical IT load at the site, with deliveries expected to begin in the fourth quarter of 2027.

Lease terms and revenue outlook

The agreement is structured as a triple-net lease, meaning the tenant is expected to bear key property-related expenses. CleanSpark said the base term would generate $6.6 billion in contracted revenue over 20 years. The contract also includes two five-year extension options. If both are exercised, the total value could rise to as much as $11.6 billion.

CleanSpark said the arrangement is expected to contribute nearly 100% to net operating income. It estimated average annual NOI from the lease at roughly $330 million. The company also said landlord project costs are expected to range from $10 million to $12 million per megawatt of critical IT load.

Sandersville delivery timeline

Under the agreement, the tenant will deploy 175 MW at the Sandersville facility. Initial deliveries are expected to start in late 2027, according to the company’s timeline. The project centers on critical IT load, a key metric for data center capacity tied to computing equipment and associated infrastructure.

The deal gives more visibility into how CleanSpark plans to use its infrastructure assets beyond its better-known bitcoin mining operations. The company framed the lease as a major step in monetizing its power and data center portfolio.

Texas exclusivity broadens the relationship

Alongside the Sandersville lease, the tenant received exclusivity over CleanSpark’s full Texas portfolio. That portfolio spans 718 acres and includes up to 885 MW of secured and planned power capacity across the company’s Sealy and Brazoria campuses.

While the Sandersville site is the immediate subject of the signed lease, the Texas exclusivity points to a potentially broader commercial relationship between the two parties. CleanSpark did not identify the tenant, but described it as a global technology company with high investment-grade standing.

Part of a wider infrastructure shift

CleanSpark said the agreement marks a significant step in its evolution toward becoming a more diversified digital infrastructure platform. The company also presented the transaction as evidence that it can monetize power assets at institutional scale.

The lease is the clearest example so far of CleanSpark’s push into AI-related infrastructure, according to the company’s positioning of the deal. It also fits into a broader trend in which bitcoin mining companies seek to expand into artificial intelligence and high-performance computing infrastructure, where large power allocations and data center capacity can be repurposed or newly developed for other forms of digital demand.

Source: www.theblock.co