CleanSpark signed a $6.6B lease with a major tech company. Bitcoin mining just became its side business.
A 20-year data center deal with an undisclosed tech giant converts CleanSpark's power capacity into locked revenue. The miner-to-landlord shift is no longer theoretical.
CryptoVibe Desk · bitcoin-mining · data-centers · cleanspark
- →CleanSpark signed a 20-year infrastructure lease worth $6.6B in contracted revenue at its Georgia campus, covering 175 MW for an unnamed high-investment-grade tech company.
- →The deal proves that power-rich bitcoin miners can generate more durable income by leasing compute capacity to AI companies than by producing hash rate.
- →The next indicator to watch: whether the Texas letter of intent, covering up to 885 MW, converts to a signed lease within the next six months.
- EH/s (exahash per second) → A measure of how much computing power a bitcoin miner runs. The higher the number, the more bitcoin the miner earns per day.
- Letter of intent (LOI) → A non-binding agreement that two parties plan to negotiate a deal. It signals intent but is not a signed contract yet.
CleanSpark just signed a $6.6B infrastructure lease, per Bitcoin Magazine. The deal runs 20 years, covers 175 MW at its Sandersville, Georgia campus, and the tenant is not named. First deliveries are due Q4 2027.
CleanSpark reports average annual net operating income of $330M over the initial term. If both extension options are exercised, total contracted revenue reaches $11.6B. The tenant is described only as a high-investment-grade global technology company.
The company also signed a letter of intent with the same party. It covers the Texas portfolio, up to 885 MW of secured and planned power. That arrangement is not a firm contract. Converting it is the execution test that turns this pivot into a platform.
CLSK jumped 20% in pre-market trading, then settled to +9% at open. Two Wall Street desks responded the same day, per the report. Citizens started Outperform coverage with a $27 target. Chardan raised its price target to $19 from $16, maintaining Buy. Both cited Sandersville as proof the compute pivot is real.
CleanSpark still mines bitcoin: 50 EH/s operational, 13,924 BTC in treasury, 614 BTC produced early this month. For now, that's the side business.
If you hold CLSK as a miner, you're holding something closer to a data center landlord with a bitcoin balance sheet. The market is pricing it that way today.
CleanSpark's undisclosed tenant is the variable today's Wall Street repricing is quietly pricing past. $11.6B tied to a single unnamed counterparty is concentration risk. That's the catch.
The Texas letter of intent converts to a signed lease for up to 885 MW within six months of today's announcement, confirming the compute pivot has real scale beyond Sandersville.
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