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"July was a transformative month for CleanSpark with the execution of our first HPC data center lease at our Sandersville campus," said CEO and Chairman Matt Schultz. "This was a 20-year true triple-net lease directly with a high investment-grade leading global technology company resulting in $6.6 billion in contracted revenue with a nearly 100% NOI margin. Our business is executing on parallel paths as we focus on commercialization and continue expanding our power and land portfolio while driving mining productivity."

Secures Lease for Data Center in Sandersville, GA

CleanSpark entered into a 20-year infrastructure lease agreement, with two five-year extension options, directly with a leading high investment-grade global technology company at its Sandersville, Georgia, campus. The agreement is expected to generate approximately $6.6 billion in contracted revenue over the initial term and will support the deployment of production-grade infrastructure dedicated to a range of computing workloads.

Transaction details:

Triple-net (NNN) lease with annual escalators
$6.6 billion of expected contract value across the initial 20-year term
$11.6 billion of expected contract value if two five-year extension options are exercised
Expected cumulative NOI contribution margin of nearly 100%, or an average annual NOI contribution of approximately $330 million
Estimated landlord project costs of $10-$12 million per MW of critical IT load