CleanSpark Inc

CleanSpark Inc.'s debut junk-bond offering for a data center tied to Meta Platforms Inc. drew orders of about $10 billion, more than four times the deal's size, according to people familiar with the matter. The five-year notes were set at almost $2.28 billion and launched at 98.5 cents on the dollar to yield 8.25%, roughly 1.75 percentage points above the average for BB rated firms tracked by Bloomberg. The fundraising, led by Morgan Stanley, will help finance construction of a data center in Sandersville, Georgia, that has been fully leased to Anviran LLC, a Meta subsidiary, under a $6.6 billion, 20-year contract. The facility is expected to begin operations in the fourth quarter of 2027, with Meta guaranteeing rent and operating expenses. Data center developers have now sold more than $3 billion of high-yield bonds so far this year, most backed by long-term leases with hyperscalers including Oracle Corp. and Amazon.com Inc.

CleanSpark has signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, a deal the company expects to generate $330 million in annual revenue. Chairman and CEO Matt Schultz said the site includes a fully energized 250-megawatt substation, that CleanSpark secured an additional 122 acres with community support, and that the tenant received short-term exclusivity for up to 885 additional megawatts in Texas, with the first data hall targeted for delivery in December 2027. The announcement came during an H.C. Wainwright panel where mining and AI infrastructure executives described a broad pivot from bitcoin operations toward AI colocation, cloud services and GPU-as-a-service. Core Scientific's Russell Cann said direct-liquid-cooled construction costs have climbed from roughly $4.5 million per megawatt for early projects to about $10 million to $10.5 million per megawatt for facilities turned on this year and $12 million to $13 million per megawatt for projects expected to start operating in 2027. Cann also said Core Scientific recently announced a roughly 500-megawatt agreement with AMD, with AMD holding rights to the next 2,000 megawatts across sites in Hunt County and Pecos, Texas, and Muskogee, Oklahoma, under a 15-year triple-net lease at $125 per megawatt or a modified gross structure at $145 per megawatt. Executives pushed back on AI bubble concerns, with Cann noting roughly 5 gigawatts of rack space is delivered annually against approximately 15 gigawatts of annual chip demand, while cautioning that many power requests may be duplicative or unsupported by actual transmission, substations or fuel supply.

CleanSpark stock climbed 5% to $13.49 in Thursday morning trading, leading a broad rally in bitcoin mining equities that far outpaced the coin itself, with no company-specific disclosure behind the move. The CoinShares Bitcoin Mining and Digital Power ETF rose 6% to $47.20 while the SPDR S&P 500 ETF Trust gained 1% to $763.81, and Bitcoin advanced 1.39% to $76,633.43 over the trailing 24 hours. Strategy shares rose 4% to $130.71, a smaller gain than the pure miners but still a multiple of the coin's advance, consistent with a bid concentrated in operating mining equities rather than corporate treasury vehicles. The U.S. Senate cloture vote on the Clarity Act failed on September 15, falling short of the sixty votes needed to advance, a defeat two sessions old that sits in the background rather than acting as the trigger for today's move. CleanSpark's bull case rests on its data center build-out and the prospect of leasing capacity to artificial intelligence tenants, but absent a tenant announcement the rally risks reversing as quickly as it arrived.

Crypto-linked equities are outrunning the coins in Tuesday morning trade, with CleanSpark surging 7% to $12.72 and BitMine Immersion Technologies climbing 4% to $25.21. The CoinShares Bitcoin Mining and Digital Power ETF is up 4% to $46.55, while the iShares Bitcoin Trust ETF is up 0.6% to $44.92, as mining and treasury names reprice faster than Bitcoin's nearly flat 0.4% move to $79,377.30. CleanSpark's most recent earnings report showed revenue of $138.01 million, missing the $141.81 million consensus, with a GAAP loss of $0.89 per share driven by a $116.25 million loss on the fair value of Bitcoin. BitMine announced on August 24 that its ether holdings had reached 5.85 million tokens, with total crypto and cash holdings of $14.9 billion, and Chairman Tom Lee said the company could hit its 5% of all ether target before year end, generating roughly $330 million annually in staking yield. Strategy holds 846,000 Bitcoin with an $8.32 billion unrealized digital-asset loss, while Coinbase reached an all-time-high 10.3% crypto trading volume market share in Q2 2026.

CleanSpark shares closed at $14.52 on July 24, 2026, up 43.5% year to date, yet analysts see a 54% upside to a $22.35 mean price target, as the company's 1.8-gigawatt power and data center portfolio trades at a discount to its private-market value. The company controls 585 megawatts of ERCOT-approved capacity, including 300 megawatts newly approved in Brazoria, and reported second-quarter fiscal 2026 revenue of $136.41 million, a 24.9% decline year over year, with a net loss driven largely by a $224.11 million unrealized bitcoin fair-value hit. Alphabet ranks as the cleanest strategic acquirer, with Google Cloud growth accelerating to 82% and capital expenditures up 100% to $44.92 billion, while its power demand outpaces secured supply across Texas and Georgia expansion zones that map directly to CleanSpark's footprint. Amazon is seen as the next-best hyperscaler fit, with AWS growing 28% and capital expenditures hitting $44.20 billion, while Microsoft, Riot Platforms, and MARA Holdings round out the list of plausible buyers, though each faces hurdles ranging from a preference for power purchase agreements to regulatory scrutiny or balance-sheet constraints. A private-equity takeout by sponsors such as Blackstone, KKR, Brookfield, or Stonepeak is also considered credible, given CleanSpark's $1.79 billion in long-term debt against a roughly $3.7 billion market capitalization and a 1.8-gigawatt portfolio that could be marketed as a build-to-suit hyperscaler platform.

Treasury Secretary Scott Bessent said the Clarity Act is at the '1-yard line', urging Congress to pass the landmark bill before recess, which sent bitcoin and other cryptocurrencies higher on Tuesday. Bitcoin rose 2.08% to $66,559, Ethereum added 1.00% to $1,922, and Dogecoin gained 1.62% to $0.073. Crypto stocks surged, with Cipher Digital up 18.01% to $24.24, Coinbase Global up 11.70% to $179.20, Riot Platforms up 8.64% to $21.62, Robinhood Markets up 8.58% to $107.80, MARA Holdings up 8.10% to $12.62, Circle Internet Group up 7.90% to $70.62, Hut 8 up 7.81% to $108.81, CleanSpark up 7.66% to $15.53, Bullish up 6.83% to $24.24, Figure Technology Solutions up 6.31% to $32.34, Bakkt up 5.22% to $8.26, IREN up 4.71% to $42.10, Gemini Space Station up 4.33% to $4.70, and Strategy up 3.67% to $101.41.

CleanSpark shares surged 10.67 percent to $14.42 on Monday, driven by a wave of multi-billion-dollar AI infrastructure leasing deals across the sector. Peer Hut 8 Corp. secured a new $9.8-billion, 15-year lease with an existing high-investment-grade company, bringing its total lease to 704 megawatts from the second phase of its Beacon Point data center in Texas. IREN Ltd. signed $2.8 billion in new AI cloud deals, lifting its annualized run-rate revenue to $4 billion with a customer base that includes Microsoft, NVIDIA, and Perplexity. CleanSpark itself last week entered a 20-year infrastructure lease with an unnamed high-investment-grade tenant for an initial $6.6 billion in contract revenue, with options that could raise total leasing revenues to $11.6 billion. Institutional conviction also strengthened, as 37 hedge funds held positions in CleanSpark in the first quarter, up from 32, with combined holdings jumping 62 percent to $263.7 million.

IBM plunged 25% after issuing weaker-than-expected preliminary second-quarter earnings, expecting a profit of $2.93 per share excluding certain items versus the $3.01 per share analysts polled by FactSet had anticipated. Goldman Sachs jumped 7% after posting second-quarter earnings of $20.98 per share, well above the $14.48 LSEG consensus estimate, with revenue of $20.34 billion also topping the $16.13 billion expected. CleanSpark surged 11% after securing a 20-year data center lease in Georgia totaling $6.6 billion in contracted revenue. HCA Healthcare fell more than 7% after lowering its full-year earnings guidance to between $28.70 and $30.50 per share, down from a prior forecast of $29.10 to $31.50 per share, and also reduced the top end of its 2026 revenue outlook. JPMorgan Chase rose 2% after reporting second-quarter earnings of $6.14 per share on revenue of $58.02 billion, exceeding LSEG estimates of $5.85 per share on $50.19 billion in revenue. Bank of America added 2% after beating expectations with earnings of $1.21 per share on revenue of $31.7 billion, compared to the $1.13 per share and $30.72 billion consensus. Wells Fargo fell 3% despite posting earnings of $2.00 per share on revenue of $22.62 billion, above the $1.72 per share and $21.84 billion expected. Citigroup fell 5% even after logging its best quarterly revenue in a decade, with earnings of $3.15 per share on revenue of $24.77 billion, surpassing the $2.74 per share and $23.74 billion estimates. Apple dipped 1% after KeyBanc downgraded the stock to underweight from sector weight with a $250 price target, citing potential pressure from consumer spending pullbacks. O-I Glass slumped 8% after a double downgrade to underperform from buy at Bank of America, which pointed to a recent 20% rally, challenging glass demand, and other headwinds. LM Ericsson dropped 13% after reporting revenue of 52.70 billion Swedish kronor, missing the 53.94 billion consensus estimate, though adjusted gross margin of 48.4% topped the 47.8% expected. MBX Biosciences tumbled 8% after announcing CEO Kent Hawryluk stepped down effective immediately, to be replaced by Executive Chairman Steve Hoerter.

CleanSpark shares surged more than 12% after the company announced a 20-year lease agreement for its Sandersville, Georgia data center campus with an undisclosed high-investment-grade global technology company. The agreement is expected to generate approximately $6.6 billion in contracted revenue over the initial term, with potential revenue increasing to $11.6 billion if two five-year extension options are exercised. Deliveries are expected to begin in the fourth quarter of 2027, with the initial deployment covering 175 megawatts of critical IT load. The company also announced that the tenant has entered into a letter of intent and exclusivity arrangement covering CleanSpark's entire Texas portfolio, which includes 718 acres and up to 885 megawatts of secured and planned power capacity. CleanSpark CEO Matt Schultz called the lease a transformational moment as the company evolves into a diversified digital infrastructure platform.

U.S. stock index futures traded near the flatline on Tuesday as investors turned their attention to the start of the second-quarter earnings season. Tower Semiconductor surged nearly 19% after unveiling a $3 billion expansion of its semiconductor operations in Japan, backed by $1 billion in Japanese government grants. CleanSpark jumped 15.6% after signing a 20-year infrastructure lease expected to generate approximately $6.6 billion in contracted revenue. IBM plunged 19% after preliminary second-quarter results missed Wall Street expectations, while JPMorgan Chase slipped 1.7% despite reporting earnings and revenue that exceeded analyst estimates.