CleanSpark Secures Twenty-Year Lease with High-Investment Grade Global Technology Company for Data Center in Sandersville, Georgia

Rhea-AI Summary

CleanSpark (Nasdaq: CLSK) entered a 20-year triple-net infrastructure lease, with two five-year extension options, with a high-investment-grade global technology company for its Sandersville, Georgia data center campus. The lease is expected to generate about $6.6 billion in contracted revenue over the initial term and up to $11.6 billion if both extensions are exercised. The agreement covers 175 MW of critical IT load, with deliveries expected to begin in Q4 2027, and is projected to provide an expected cumulative NOI contribution margin of nearly 100%, or approximately $330 million in average annual NOI. CleanSpark estimates landlord project costs of $10–$12 million per MW. According to the company, the tenant has also signed a letter of intent and exclusivity arrangement for CleanSpark’s entire Texas portfolio of 718 acres with up to 885 MW of secured and planned power, positioning Sandersville as the first phase of a potentially larger relationship.

Positive

• $6.6 billion contracted revenue over initial 20-year NNN lease term
• Potential contract value up to $11.6 billion with full extensions
• Lease covers 175 MW critical IT load starting Q4 2027
• Expected average annual NOI contribution of about $330 million
• Tenant LOI and exclusivity on Texas portfolio up to 885 MW
• High-investment-grade tenant supports financing options and multi-decade term

Negative

• Estimated landlord project costs of $10–$12 million per MW of IT load

Market reaction after 20-year Sandersville data center lease: CLSK +8.82% in the Jul 14 session

+8.82% 3.0x vol

18 alerts

+8.82% Session close to close

+15.9% Peak in 24 min

$3.30B Market Cap

3.0x Rel. Volume

In the Jul 14 session, CLSK gained 8.82%, reflecting a notable positive market reaction. Argus tracked a peak move of +15.9% during that session. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. Trading volume was very high at 3.0x the daily average, suggesting strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.8% in the session following this news. If a sharp upside move followed this lease...

Analysis

The stock moved +8.8% in the session following this news. If a sharp upside move followed this lease news, it would come against a backdrop of previously mixed reactions to operational updates and high short positioning, as flagged by the platform. Past responses to strategic pivots have sometimes been constructive, but concentrated short interest could both fuel and later unwind volatility.

Key Figures

Contracted revenue: $6.6 billion Total contract value with extensions: $11.6 billion Lease term: 20 years +5 more

8 metrics

Contracted revenue $6.6 billion Expected revenue over initial 20-year lease term

Total contract value with extensions $11.6 billion Expected value if two five-year options are exercised

Lease term 20 years Initial term of triple-net infrastructure lease

Critical IT load 175 MW Capacity under the Sandersville lease

Average annual NOI $330 million Approximate annual NOI contribution over initial term

NOI margin nearly 100% Expected cumulative NOI contribution margin

Landlord project cost $10–$12 million per MW Estimated landlord cost per MW of critical IT load

Texas power capacity 885 MW Secured and planned power capacity under Texas portfolio LOI

Historical Context

5 past events · Latest: Jul 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 07	Operational update	Positive	-7.6%	June 2026 bitcoin production and hashrate update highlighting 50 EH/s and 13,924 BTC.
Jun 04	Operational update	Positive	-4.7%	May 2026 production metrics, 50 EH/s hashrate and new senior finance hire.
May 20	Leadership change	Positive	+7.9%	Appointment of SVP of Finance to lead capital markets and M&A initiatives.
May 11	Earnings report	Negative	-5.8%	Fiscal Q2 2026 results with revenue decline and large net loss and negative EBITDA.
May 06	Operational update	Positive	+8.1%	April 2026 operating metrics and commentary on progress toward multi‑gigawatt AI tenancy.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows mixed reactions, with generally positive responses to strategic expansion or leadership news but frequent pressure following monthly operational updates.

Key Terms

triple net lease, letter of intent, noi

3 terms

triple net lease financial

"Twenty-year triple-net (NNN) lease totaling $6.6 billion in contracted revenue"

A triple net lease is a rental agreement where the tenant pays the base rent plus three main ongoing costs: property taxes, building insurance, and routine maintenance. For investors, this shifts much of the expense and risk onto the tenant, creating a steadier, more predictable income stream for the property owner—similar to renting a furnished home where the renter also pays the bills—making valuation and cash-flow forecasting simpler.

letter of intent financial

"the tenant has also executed a letter of intent and exclusivity arrangement covering CleanSpark's entire Texas portfolio"

A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.

noi financial

"Expected cumulative NOI contribution margin of nearly 100%, or an average annual NOI contribution of approximately $330 million"

Net operating income (NOI) is the total profit a business makes from its core operations, after subtracting expenses directly related to running the business but before accounting for taxes, interest, or investments. It shows how well the company’s main activities generate earnings and helps investors assess its financial health and profitability without the influence of external factors. Think of it as the money a store earns from sales minus the costs to keep it open.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Twenty-year triple-net (NNN) lease totaling $6.6 billion in contracted revenue, with up to $11.6 billion after full extension options

175 MW of critical IT load with deliveries expected to begin in Q4 2027 to a high-investment-grade tenant

Tenant has executed a letter of intent and exclusivity arrangement covering CleanSpark's entire Texas portfolio of 885 MW

LAS VEGAS, July 14, 2026 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark" or the "Company"), a market leading data center developer, today 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.

Under the agreement, the global technology company will deploy production-grade infrastructure at Sandersville, dedicated to a range of computing workloads. 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 substantially larger relationship.

"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. 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."

A Foundation Built at Sandersville

The Sandersville campus was selected for its access to reliable, low-cost power, available capacity for high-density compute, and its ability to support rapid, phased deployment of advanced data center infrastructure. Since the 2022 launch of its Sandersville operations, CleanSpark has established a sustained presence in the local community, investing in energy infrastructure, site development, and long-term operations that support economic activity throughout the region.

"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," said Mayor Jimmy Andrews. "We are excited to see CleanSpark embark on this new chapter and stand shoulder to shoulder with them to support this incredible infrastructure project."

While the tenant remains confidential, they are a global technology company among the high-investment-grade cohort, facilitating CleanSpark's financing options and the multi-decade term of the lease.

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

Texas Portfolio Under Exclusivity

Pursuant to the executed letter of intent, CleanSpark's entire Texas portfolio is now under exclusivity with the tenant. The Texas portfolio totals 718 acres with up to 885 MW of secured and planned power capacity, including 271 acres with nearly 300 MW at our Sealy campus and 447 acres at the Brazoria campus, where transmission-level infrastructure supports an initial 300 MW demand load with the potential to expand to 600 MW.

Advisors

Morgan Stanley & Co. LLC acted as financial advisor to the Company. Davis Polk & Wardwell LLP acted as legal counsel to the Company.

Conference Call

The Company will host a conference call on Tuesday, July 14 at 11 a.m. ET / 8 a.m. PT to discuss the announcement. Investors can join the live webcast at clsk.news/irupdatejul26.

About CleanSpark

CleanSpark (Nasdaq: CLSK), is a market-leading data center developer with a proven track record of success. We control a portfolio of more than 1.8 GW of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence, and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the estimated costs, contract value and NOI contribution (including as to the timing thereof) of the transaction announced in this press release and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the Company's ability to timely achieve the lease agreement milestones for, among other things, obtaining financing for and completing the construction of the Sandersville data center project; the potential consequences of the Company not timely achieving the lease agreement milestones, which could include rent abatements and/or termination of the lease agreement; the Company's ability to meet all other covenants and conditions contained in the lease agreement; the Company's need for, and ability to raise, substantial additional capital to fund the development of the Sandersville project; risks related to the significant additional indebtedness that the Company may incur for purposes of such funding; the Company's dependence on a third party for development of the Sandersville project and the performance of such third party and its personnel and suppliers; the  ability to obtain the necessary equipment for the project on a timely basis and the competitive environment therefor; regulatory approvals and electrical power availability to complete the Sandersville data center project; the ongoing supply of electrical power to the project after the completion of construction and interruptions thereof; uncertainty as to whether the lease extension options will be exercised; natural disasters and other unforeseen events; changes to AI and HPC infrastructure needs; the risk that expectations of future revenue and NOI growth may not be realized; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in those filings. Forward-looking statements contained herein are made only as to the date of this press release, and the Company assumes no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Investor Relations Contact
Kyle Sourk
702-989-7693
ir@cleanspark.com 

Media Contact
Malory Van Guilder
malory@skyya.com

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SOURCE CleanSpark, Inc.

FAQ

What are the key terms of CleanSpark (CLSK) 20-year Sandersville lease announced July 14, 2026?

CleanSpark agreed a 20-year triple-net lease with two five-year extension options, totaling $6.6 billion in expected contracted revenue. According to CleanSpark, the deal covers 175 MW of critical IT load at its Sandersville, Georgia campus for a high-investment-grade global technology tenant.

How much revenue could CleanSpark (CLSK) earn from the Sandersville data center lease?

CleanSpark expects approximately $6.6 billion in contracted revenue over the initial 20-year term and up to $11.6 billion with extensions. According to CleanSpark, the lease is projected to generate an expected average annual NOI contribution of about $330 million at nearly 100% NOI margin.

What is the size and power capacity of CleanSpark (CLSK) Sandersville lease with the global technology tenant?

The Sandersville agreement covers 175 MW of critical IT load, with deliveries expected to begin in Q4 2027. According to CleanSpark, the campus was selected for reliable, low-cost power and its ability to support rapid, phased deployment of advanced, high-density compute data center infrastructure.

How does the Texas portfolio exclusivity affect CleanSpark (CLSK) after the Sandersville lease?

The tenant signed a letter of intent and exclusivity over CleanSpark’s entire Texas portfolio totaling 718 acres and up to 885 MW capacity. According to CleanSpark, this positions Sandersville as the first chapter of a substantially larger potential infrastructure relationship in Texas.

What investment is required from CleanSpark (CLSK) for the Sandersville data center project?

CleanSpark estimates landlord project costs of $10–$12 million per MW of critical IT load for Sandersville. According to CleanSpark, this capital will support deployment of production-grade infrastructure dedicated to a range of computing workloads for the global technology tenant.

Who is the tenant in CleanSpark (CLSK) long-term Sandersville lease and why is the rating important?

The tenant is a confidential, high-investment-grade global technology company, according to CleanSpark. The high credit quality supports CleanSpark’s financing options and helps underpin the multi-decade lease term, potentially lowering financing costs and improving the risk profile of the contracted revenue stream.

When will CleanSpark (CLSK) start delivering capacity under the Sandersville lease and how can investors learn more?

Deliveries of the 175 MW critical IT load are expected to begin in Q4 2027, according to CleanSpark. The company will host a conference call on July 14 at 11 a.m. ET, with a live webcast available at clsk.news/irupdatejul26 for further investor details.