CleanSpark has identified Meta Platforms as the technology company behind its $6.6 billion Sandersville data center lease, ending two months of uncertainty over the customer anchoring the Bitcoin miner’s push into artificial intelligence infrastructure.
The disclosure came in investor materials furnished with an SEC filing. CleanSpark said Anviran LLC, the tenant on the 175 MW Georgia campus, is a wholly owned Meta subsidiary. Meta is serving as guarantor for rent and operating expenses under the lease.
CleanSpark announced the 20-year triple-net lease on July 14 after signing it four days earlier, identifying the customer at the time only as a “high-investment grade” global technology company. The company said the contract represented approximately $6.6 billion of expected revenue over the initial term and approximately $330.0 million in average annual net operating income.
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The Meta disclosure arrived alongside the next major step in the project. CleanSpark said wholly owned subsidiary CSDC Finance I plans to raise $2.227 billion through senior secured notes due 2031.
Proceeds are intended to fund the remaining Sandersville construction costs, reimburse CleanSpark for certain equity already contributed to the project, and establish debt-service reserves. The notes would be secured by first-priority liens over substantially all assets of the issuing and property subsidiaries. CleanSpark itself will provide a completion guarantee if the financing is insufficient to finish the campus on schedule.
The offering has not closed and remains subject to market conditions.
CleanSpark’s September presentation puts development costs at roughly $11.9 million per MW of critical IT capacity. Initial rent commencement is targeted for the fourth quarter of 2027, with the first network hall expected to begin generating rent on November 30, 2027. Construction completion is expected around March 2028.
The lease carries a 3% annual rent escalator and two five-year extension options. The July announcement valued the contract at as much as $11.6 billion if both five-year options are exercised.
The deal also marks a material change in CleanSpark’s revenue mix if construction and delivery proceed as planned. As of June 30, the company said it had generated no revenue from AI or HPC services, with its existing Sandersville operations still used for Bitcoin mining.
CleanSpark expects that mining activity to cease when power is redirected to the new AI campus at lease commencement.
