AirJoule Acquires Cooling Firm BitSink in $67M Deal
AirJoule has made a significant move in the data center infrastructure market by acquiring cooling and electrical switchgear firm BitSink. The deal, which could be worth up to $67 million, represents a major expansion of AirJoule's operations into AI and HPC data center infrastructure.
BitSink, based in South Carolina, specializes in air and liquid cooling systems for high-density computing environments. The company has made its name providing equipment for Bitcoin mining, but is now transitioning to serve the growing demand for AI and HPC infrastructure. Its current installations chill 220MW of compute at data centers worldwide.
AirJoule paid $18 million in cash and $9 million in stock for BitSink, with additional payments worth up to $40 million over three years tied to revenue milestones.
According to Matt Jore, founder and CEO of AirJoule Technologies, the acquisition transforms AirJoule into a broader infrastructure solutions provider capable of addressing the interconnected constraints of cooling and water management in data centers.