CleanSpark Inc. (NASDAQ:CLSK) shares are trading higher Tuesday after the company announced a 20-year infrastructure lease agreement with a high-investment-grade global technology company at its Sandersville, Georgia campus.
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The Lease
The lease is expected to generate approximately $6.6 billion in contracted revenue over the initial 20-year term, with up to $11.6 billion if two five-year extension options are exercised. Under the agreement, the unnamed tenant will deploy production-grade infrastructure at Sandersville dedicated to a range of computing workloads, covering 175 MW of critical IT load with deliveries expected to begin in the fourth quarter of 2027. The lease is structured as a triple-net agreement with annual escalators, and CleanSpark expects a cumulative NOI contribution margin of nearly 100%, or approximately $330 million in average annual NOI.
Texas Portfolio Exclusivity
In connection with the transaction, the tenant has also executed a letter of intent and exclusivity arrangement covering CleanSpark’s entire Texas portfolio — 718 acres with up to 885 MW of secured and planned power capacity. That includes 271 acres with nearly 300 MW at the company’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.
“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,” said Matt Schultz, CleanSpark CEO and Chairman. “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.”
CleanSpark Shares Rise
CLSK Price Action: At the time of publication, CleanSpark shares are trading 17.48% higher at $14.52, according to data from Benzinga Pro.
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