CleanSpark Stock Surges on Leased Georgia Campus Deal

CleanSpark's stock has surged by about 21% in 2026 despite its fiscal Q3 revenue plummeting 31% year over year to $138 million, largely due to weaker Bitcoin output and prices.

The company's fortunes changed with the signing of a 20-year triple-net lease with a high investment-grade technology company for its Sandersville, Georgia campus in July. This deal brings in $6.6 billion in contracted revenue and approximately $330 million in expected average annual net operating income once deliveries begin in Q4 2027.

CleanSpark's parent-level role as the completion guarantee holder remains a concern, but the secured note sale priced in September has reduced the immediate equity need to fund the remaining build-out. The notes offering, which raised $2.276 billion at 98.5% of par, keeps CleanSpark from needing new equity.

Analysts have been upgrading their target prices for CLSK stock, with a mean target of $23.89 and a low target of $21 on September 25. The stock's price has climbed to around $15 before closing at $13.95 on the same day.