CleanSpark, a market-leading data center developer, announced it has entered into a 20-year infrastructure lease agreement, with two five-year extension options, directly with a high-investment-grade, leading global technology company at its Sandersville, Georgia campus. The lease is expected to generate approximately $6.6 billion of contracted revenue over the initial term, with up to $11.6 billion if both extension options are exercised.
Under the agreement, the global technology company will deploy production-grade infrastructure at Sandersville, dedicated to a range of computing workloads, with 175 MW of critical IT load and deliveries expected to begin in the fourth quarter of 2027. In connection with the transaction, the tenant has also executed a letter of intent and exclusivity arrangement covering CleanSpark’s entire Texas portfolio of 718 acres with up to 885 MW of secured and planned power capacity, positioning Sandersville as the first chapter of a larger relationship. The Texas portfolio includes 271 acres with nearly 300 MW at CleanSpark’s Sealy campus and 447 acres at its Brazoria campus, where transmission-level infrastructure supports an initial 300 MW demand load with potential to expand to 600 MW.
The triple-net lease includes annual escalators and is expected to generate a cumulative NOI contribution margin of nearly 100%, or an average annual NOI contribution of approximately $330 million, with estimated landlord project costs of $10 to $12 million per MW of critical IT load. Morgan Stanley & Co. LLC acted as financial advisor to CleanSpark, and Davis Polk & Wardwell LLP acted as legal counsel. CleanSpark controls a portfolio of more than 1.8 GW of power, land, and data centers across the United States.
KEY QUOTES:
“This lease is a transformational moment for CleanSpark as we complete our evolution into a diversified digital infrastructure platform and begin monetizing our power portfolio at institutional scale.”
“A 20-year commitment from a high-investment-grade global technology company with a market-leading commercial profile and exclusivity across our nearly 900 MW of additional capacity in Texas is a tremendous validation of our land-and-power strategy. We have long believed in the second-mover advantage in this sector: grow our portfolio as the market matures, then execute with excellent terms and velocity. Today’s announcement validates our thesis.”
Matt Schultz, CEO and Chairman, CleanSpark
“CleanSpark has been a pillar of the Sandersville community for many years, providing job market stability, tax revenue, and broad support for what makes our part of the world special.”
“We are excited to see CleanSpark embark on this new chapter and stand shoulder to shoulder with them to support this incredible infrastructure project.”
Jimmy Andrews, Mayor, Sandersville, Georgia
