CleanSpark Unveils $6.6B AI Data Center Lease as Miners Pivot Beyond Bitcoin

Key Points

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• CleanSpark signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, expected to generate $330 million in annual revenue. The site includes a fully energized 250-megawatt substation, with the first data hall targeted for December 2027.

• Bitcoin miners are increasingly pivoting toward AI data centers, colocation and GPU-as-a-service because existing land, power infrastructure and substations can accelerate development. However, AI facilities require far more capital, with direct-liquid-cooled construction costs rising to as much as $12 million–$13 million per megawatt for projects expected to start operating in 2027.

• Executives said AI demand is real but cautioned that many proposed projects may lack confirmed power, transmission, equipment or financing. Bitcoin mining remains an important source of interim cash flow while companies develop AI capacity and secure customers.

Bitcoin mining and digital infrastructure executives outlined how access to energized power, land and existing substations is positioning their companies to pursue artificial intelligence and high-performance computing deployments, while also warning that much of the widely cited data-center demand may not translate into viable projects.