CleanSpark signs 20-year data center lease in Georgia, expands Texas exclusivity

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CleanSpark data center lease

Highlights

CleanSpark signed a 20-year triple-net lease valued up to $11.6 billion for its Sandersville, Georgia data center with a high-investment-grade tenant.
The tenant will deploy 175 MW of IT load starting Q4 2027, generating an estimated $330 million average annual NOI at nearly 100% margin for CleanSpark.
The same tenant secured exclusivity for CleanSpark’s full Texas portfolio covering 885 MW capacity, signaling broader, long-term digital infrastructure expansion.

Lease structure and project timeline

As reported by The Block, citing CleanSpark, the company has entered a 20-year triple-net lease with an unnamed high-investment-grade global technology company for its Sandersville data center. The deal includes two five-year extension options that could raise the total value to as much as $11.6 billion if exercised.

The tenant plans to deploy 175 MW of critical IT load at the Georgia facility, with deliveries expected to begin in the fourth quarter of 2027. Under a triple-net structure, the tenant covers rent, insurance and typical operating expenses tied to the property.

CleanSpark says the agreement is expected to contribute nearly a 100% cumulative net operating income margin, or about $330 million in average annual NOI. The company also estimates landlord project costs at $10 million to $12 million per MW of critical IT load.

Broader digital infrastructure push

The arrangement extends beyond the Georgia site and signals a wider commercial relationship between the two companies. The same tenant has also signed a letter of intent and exclusivity arrangement covering CleanSpark’s full Texas portfolio, including Sealy and Brazoria campuses spread across 718 acres.

That Texas portfolio represents up to 885 MW of secured and planned power capacity, giving the tenant a potential path to larger future deployments. Chief Executive and Chairman Matt Schultz says the lease marks a transformational step as CleanSpark evolves into a diversified digital infrastructure platform and starts monetizing its power portfolio at institutional scale.

In our earlier coverage of Google’s renewable power agreement tied to the Steel River Energy Center in Arkansas, we explained how data-center-driven electricity demand is pushing major tech companies to lock in long-term clean energy contracts. We also noted that these large solar-and-storage buildouts are increasingly shaped by policy uncertainty and supply-chain constraints, even as corporate commitments help keep new projects financeable.

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