Mentioned:
CleanSpark is getting into the high performance computing business. And now, they’ve just struck a major long term lease agreement.
What’s happening:
- CleanSpark (NASDAQ: CLSK) has entered into a 20 year lease agreement with a leading technology company at its Sandersville, Georgia campus that is expected to generate roughly $6.6B USD in total revenue
Why it matters:
- This is the first time ever that CleanSpark has entered into a major long term lease agreement with a large technology company to host high performance computing and artificial intelligence workloads
Going deeper:
- CleanSpark will deliver 175 megawatts of data centre capacity as part of the the 20 year lease which is structured as a triple net lease with annual escalators
- CleanSpark has publicly stated that the 20 year lease term could be worth up to $11.6B USD if both extension options are exercised
The intrigue:
- The technology company who entered into the 20 year lease with CleanSpark for their data centre in Sandersville, Georgia has also formed an exclusivity arrangement over CleanSpark’s entire data centre portfolio in Texas where CleanSpark has notably been aggressively buying both power and land
