CleanSpark Discloses Meta as Tenant Behind $6.6 Billion Sandersville AI Lease
CleanSpark has revealed that Meta is the tenant behind its $6.6 billion, 20-year lease for a data center in Sandersville, Georgia. The deal involves 175 critical IT megawatts (MW) and marks CleanSpark's first major AI-focused site. This disclosure comes as CleanSpark seeks $2.227 billion in financing to develop the facility amid rising borrowing costs following the Federal Reserve’s recent rate hike. The lease is backed by Meta through its subsidiary Anviran, with Meta serving as a guarantor for rent and operating expenses. Additionally, Meta has an LOI (Letter of Intent) for 885 MW from CleanSpark's Sealy and Brazoria sites in Texas. However, the project faces regulatory hurdles, including approval from ERCOT’s Batch Zero process. CleanSpark will need to secure financing at a projected rate of around 7.5% before construction can begin on schedule by March 2028. The company also awaits results for an additional 300 MW in Texas and must meet regulatory requirements, including audits from Governor Greg Abbott.
Topics: AI infrastructure capital financing CleanSpark (CLSK) data center leasing Meta (META)