CleanSpark Selects Submer as Its First Strategic Partner for AI Data Center Expansion in North America

Rhea-AI Summary

CleanSpark (Nasdaq: CLSK) announced a strategic collaboration with Submer to evaluate development of AI-focused data center campuses in North America. The partnership combines CleanSpark's U.S. power and land assets with Submer's liquid-cooling and modular data-center technology to deliver scalable, energy-efficient AI capacity.

Key disclosed metrics include an existing portfolio of more than 1 GW and a pipeline of more than 2 GW. The companies are working under a non-binding framework and said they aim to conclude definitive agreements in the coming weeks.

Positive

• Existing portfolio exceeds 1 GW of capacity
• Pipeline totals more than 2 GW
• Combines CleanSpark land/power with Submer liquid-cooling expertise
• Potential for gigawatt-scale AI capacity deployment

Negative

• Collaboration currently a non-binding framework
• No financial terms, timelines, or commercial contract value disclosed

Insights

Infrastructure Strategist

Strategic non-binding partnership aims to pair CleanSpark's U.S. power/land assets with Submer's liquid‑cooling data center technology to scale AI capacity.

CleanSpark will target site selection, development, construction, and operations while Submer supplies modular liquid‑cooling and prefabricated facility systems; the release cites a current portfolio exceeding 1 GW and a pipeline over 2 GW, and both parties will evaluate a definitive agreement.

The arrangement is explicitly a non-binding framework, so execution risk hinges on finishing definitive contracts and project-level approvals; stated near-term timing is to "conclude definitive agreements in the coming weeks," which is the immediate milestone to watch.

Energy & Data Center Analyst

Combines CleanSpark's development and power capabilities with Submer's high-density cooling to pursue gigawatt-scale AI campuses.

The business mechanism links CleanSpark's U.S. power and land portfolio with Submer's end-to-end liquid‑cooled, prefabricated data center solutions to offer scalable AI compute campuses; the companies position this as delivering higher density and energy efficiency through modular design.

Key dependencies include signing definitive agreements, regulatory and site‑specific approvals, and commercial tenant commitments; the only concrete near-term marker in the announcement is the target to finalize agreements in the coming weeks, making that the actionable horizon to monitor.

Relationship unites CleanSpark's U.S.-based power and land assets with Submer's established global presence, to offer liquid-cooling and scalable data center infrastructure delivering AI solutions, with more than 1 GW in the current portfolio and a pipeline of more than 2 GW

LAS VEGAS, Oct. 28, 2025 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today announced it is working with Submer, a global leader in sustainable, modular AI data center design and construction to evaluate opportunities for future collaboration.

The two companies are working together on an infrastructure platform that integrates power generation, data center development, and AI-service delivery. Under this framework, CleanSpark would focus on selecting, developing, building, and operating AI-focused campuses, while Submer will offer its technology and expertise in sustainable, modular data-center systems.

Founded in 2015, Submer is a global pioneer in liquid-cooled and prefabricated data center solutions. Its end-to-end capabilities, spanning from liquid-cooling systems and power modules to full facility builds, set new benchmarks in energy efficiency, density, and sustainability, making it an ideal partner for CleanSpark's long-term growth strategy.

"Submer has established itself as one of the most advanced and forward-thinking AI infrastructure firms in the industry," said Matt Schultz, CleanSpark's Chief Executive Officer and Chairman. "By combining our energy and land portfolio with Submer's state-of-the-art AI deployment and liquid cooling expertise, we are positioned to deliver AI capacity at gigawatt scale, faster, cleaner, and more efficiently than traditional approaches. This relationship perfectly aligns with our vision of transforming CleanSpark's infrastructure platform into the backbone of the next era of intelligent computing."

"This collaboration represents a pivotal step toward scaling AI infrastructure globally," said Patrick Smets, Chief Executive Officer of Submer. "CleanSpark's unmatched expertise in site development, power strategy, and large-scale infrastructure delivery and operations combined with Submer's ability to design and deploy high-density AI environments rapidly and efficiently, creates a new blueprint for sustainable, high-performance AI compute at scale. Together, we're building the industrial foundation for the Age of Intelligence and building the infrastructure that will sustain it."

"Working in conjunction with accomplished technical partners is critical for successful tenant and customer relationships," said Jeffrey Thomas, CleanSpark's Senior Vice President of AI Data Centers. "Submer already has received approvals for its designs for leading reference architectures. Working with Submer accelerates our capability and ability to scale at pace, and we look to conclude definitive agreements in the coming weeks."

CleanSpark's expansion into AI infrastructure builds upon its proven, vertically integrated model and track record of rapid site development, allowing it to capitalize on the global surge in demand for digital infrastructure driven by artificial intelligence and compute-intensive applications.

CleanSpark and Submer acknowledge the fast-moving nature of the sector and have agreed to collaborate under a non-binding framework to evaluate opportunities for a definitive agreement and the development of AI data centers in North America.

About CleanSpark
CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading data center developer with a proven track record of success. We own and operate a portfolio of more than 1 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. Visit our website at www.cleanspark.com.

About Submer
Submer designs and builds sustainable, liquid-cooled data centers for AI and high-performance computing. Its modular solutions combine liquid cooling, prefabricated infrastructure to reduce energy and water use while maximizing compute density. Headquartered in Barcelona, Submer operates globally with partners and deployments across the U.S., Europe, Middle East, and Asia. Visit www.submer.com.

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 Company's expectations, beliefs, plans, intentions, and strategies, including the impact of the CEO transition and the ability of the Company to execute on its strategic plans. 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 our 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: entry into definitive agreements with Submer; the success of AI or high-value compute site development and data center infrastructure activities at current or future sites; our ability to attract customers for and generate revenue from non-bitcoin data centers and facilities; the impact of the CEO transition on relationships with vendors, regulators, employees and investors and the ability of the new CEO to execute on the Company's strategies; completion of construction, regulatory approvals, and electrical power availability to achieve anticipated growth; the success and performance of the digital asset management and derivatives trading activities; the success of our digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; the impacts of evolving global and U.S. trade policies and tariff regimes, including that there is uncertainty as to whether the Company will face materially increased tariff liability in respect of miners purchased since 2024 and in the future; the ability to successfully import and deploy new miners and other mining equipment; the dependency on utility rate structures and government incentive programs; the expectations of future revenue 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 we assume 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
Harry Sudock
702-989-7693
ir@cleanspark.com

Media Contact
Malory Van Guilder
651.335.0585
malory@skyya.com

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SOURCE CleanSpark, Inc.

FAQ

What did CleanSpark (CLSK) announce on October 28, 2025 about AI data centers?

CleanSpark announced a collaboration with Submer to evaluate developing AI data center campuses in North America under a non-binding framework.

How much capacity does CleanSpark say it has for AI infrastructure?

CleanSpark reported a current portfolio of more than 1 GW and a pipeline of more than 2 GW.

What role will Submer play with CleanSpark's CLSK AI expansion?

Submer will provide liquid-cooling, modular data-center systems, and design expertise for high-density AI environments.

Does the CleanSpark and Submer agreement create binding commitments for CLSK shareholders?

No; the parties stated they are collaborating under a non-binding framework while they evaluate definitive agreements.

When does CleanSpark expect to finalize agreements with Submer for AI campuses?

CleanSpark said it looks to conclude definitive agreements in the coming weeks following the evaluation period.