Cleanspark Lands $6.6B AI Lease as 20-Year Deal Reshapes Bitcoin Mining Strategy
Cleanspark has signed a 20-year triple-net lease at its Sandersville, Georgia, campus, expected to generate $6.6 billion in contracted revenue. The tenant has also secured exclusivity over Cleanspark’s 885 MW Texas portfolio, signaling a broader artificial intelligence (AI) infrastructure partnership.
Cleanspark is accelerating its shift from bitcoin mining into large-scale digital infrastructure with a 20-year lease agreement expected to generate $6.6 billion in contracted revenue. The company said the triple-net lease covers 175 MW of critical IT load at its Sandersville campus, with deliveries expected to begin in Q4 2027. The tenant was not named, but Cleanspark described it as a leading global technology company with a high investment-grade profile. The agreement includes two five-year extension options, potentially increasing total contract value to $11.6 billion. Cleanspark expects the lease to deliver an average annual net operating income contribution of about $330 million, with estimated landlord project costs ranging from $10 million to $12 million per megawatt of critical IT load.
The Sandersville campus was chosen for its reliable, low-cost power and capacity to support high-density compute infrastructure. Matt Schultz, Cleanspark’s Chairman and CEO, called the lease a transformational moment, stating: ‘A 20-year commitment from a high-investment-grade global technology company with a market-leading commercial profile is a tremendous validation of our land-and-power strategy.’ The tenant will deploy production-grade infrastructure for various computing workloads, and its credit profile is expected to support Cleanspark’s financing options. Sandersville Mayor Jimmy Andrews expressed support, noting Cleanspark’s contributions to local jobs, tax revenue, and community development.
The lease also includes a strategic option: the tenant signed a letter of intent and exclusivity arrangement covering Cleanspark’s entire Texas portfolio, spanning 718 acres with up to 885 MW of secured and planned power capacity. This includes the Sealy campus (271 acres, nearly 300 MW) and Brazoria campus (447 acres with transmission-level infrastructure). The deal places Cleanspark among a growing group of bitcoin miners converting power-heavy sites into AI and high-performance computing infrastructure. Cleanspark’s treasury holdings rose to 13,924 BTC in July, with the company retaining most of its mined bitcoin, betting on long-term price appreciation.
This move follows a similar agreement by Terawulf, which recently signed a 20-year AI infrastructure lease with Anthropic, expected to generate about $19 billion. For miners, power access is now the prize, with large-scale electricity capacity becoming one of the most valuable assets in digital infrastructure.