CleanSpark Raises $2.227 Billion for AI Data Center Campus Backed by Meta
CleanSpark, known for its Bitcoin mining operations, is taking a significant step into the world of artificial intelligence (AI) hosting. The company has announced plans to raise $2.227 billion through high-yield bonds to finance an AI data center campus in Sandersville, Georgia.
The tenant paying the bills: Meta Platforms' subsidiary Anviran LLC. The two parties have signed a 20-year triple-net lease, with Anviran responsible for rent and operational expenses. This gives bondholders a predictable cash flow stream backed by one of the world's largest tech companies.
Under the lease agreement, Anviran will make annual rent payments of approximately $330 million per year, with escalators built in to account for inflation. The total contracted payments over the lease term are expected to reach around $6.6 billion.
The deal marks a significant shift for CleanSpark, which has traditionally focused on Bitcoin mining. However, with Meta's backing and the lucrative AI hosting market, the company is now positioning itself as a major player in the data center industry.