CleanSpark Inc. (NASDAQ:CLSK) announced a long-term infrastructure lease worth an estimated $6.6 billion, sending its shares around 15% higher in premarket trading on Tuesday as investors welcomed the company’s expansion into digital infrastructure.
The agreement covers a 20-year lease at CleanSpark’s Sandersville, Georgia campus with an unnamed global technology company. The contract also includes two optional five-year extensions, which could increase the total value of the agreement to approximately $11.6 billion.
Landmark Deal Expands Digital Infrastructure Strategy
Under the lease, the tenant will install production-grade infrastructure at the Sandersville facility to support a range of high-performance computing workloads.
In addition to the Georgia agreement, CleanSpark revealed it has entered into a letter of intent and exclusivity arrangement covering its entire Texas portfolio, comprising 718 acres with up to 885 megawatts of secured and planned power capacity.
Matt Schultz, CleanSpark’s Chief Executive Officer and Chairman, said the agreement represents a major strategic milestone as the company broadens its focus beyond its existing operations.
Long-Term Revenue Opportunity
The lease has been structured as a triple-net agreement with built-in annual rent escalators.
CleanSpark expects the project to contribute approximately $330 million in average annual net operating income, while estimated landlord capital costs are projected to range between $10 million and $12 million per megawatt of critical IT capacity.
Texas Portfolio Offers Additional Growth Potential
The Texas assets covered by the exclusivity arrangement include the Sealy campus, which spans 271 acres with nearly 300 megawatts of available power capacity, and the Brazoria campus, which covers 447 acres.
The Brazoria location already benefits from transmission-level infrastructure capable of supporting an initial 300-megawatt demand load, with expansion potential to as much as 600 megawatts.
The developments strengthen CleanSpark’s position in the rapidly growing data centre market as demand for computing capacity continues to increase alongside artificial intelligence and cloud infrastructure investment.
Morgan Stanley & Co. LLC acted as financial adviser to CleanSpark on the transaction, while Davis Polk & Wardwell LLP served as legal counsel.