Acquisition increases power under contract by 28%
271-acre site is positioned on a major fiber backbone with 285 MW of power to anchor CleanSpark’s expansion into high-performance compute and AI infrastructure
CleanSpark, Inc., America’s Bitcoin Miner, announced it has acquired the rights to approximately 271 acres of land in Austin County, Texas, and executed long-term power supply agreements totaling 285 megawatts to support the development of a next-generation data center campus (collectively, the “Transactions”). The Transactions position CleanSpark to deliver scalable, resilient, and energy-efficient capacity to meet accelerating demand from AI, cloud, and enterprise workloads.
Under the terms of the purchase agreement, the Company paid a combination of cash consideration and shares of the Company’s common stock at closing, plus additional cash consideration payable upon the occurrence of post-closing events.
Located on a regional fiber backbone and supported by strong grid infrastructure with close proximity to numerous high-capacity natural gas pipelines, which are being evaluated for industrial-scale behind-the-meter generation opportunities, the site provides a highly advantageous platform for CleanSpark’s continued diversification beyond bitcoin mining into high performance compute (HPC). The Transactions represent a key step in the Company’s long-term strategy to leverage its vertically integrated infrastructure-first model to unlock value across its power and land portfolio.
“This acquisition marks a major milestone in CleanSpark’s strategic business evolution,” said Matt Schultz, chief executive officer and chairman. “Securing power and land at this scale in one of the nation’s most attractive markets positions us to meet the accelerating demand for AI compute while continuing to deliver long-term value for our shareholders. We continue to lead in bitcoin mining, are actively reviewing AI conversion opportunities across our existing portfolio and have now entered the Texas market with a site purpose-acquired for an AI campus.”
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“CleanSpark has built a track record of identifying and developing digital infrastructure in energy-advantaged regions,” said Harry Sudock, chief business officer. “This site sits strategically between Houston and Austin at the intersection of abundant power, fiber connectivity and pro-development energy policy. As we move into the design and construction phases of this project, we will evaluate opportunities to secure additional energy onsite and pursue other regional projects in parallel.”
“The Houston market is emerging as a premier destination for next-generation data center development,” said Jeffrey Thomas, senior vice president of AI data centers. “This acquisition provides CleanSpark with the footprint and power capacity needed to deliver large-scale, high-density compute solutions to global technology partners. CleanSpark is developing high-velocity compute deployment capabilities ideally suited for monetizing this type of capacity.”
A substation construction plan is already underway with the long lead time items secured, and CleanSpark intends to begin site design and development immediately, with phased development expected to support AI workloads as the Company continues to expand its digital infrastructure platform. Energization of more than 200 MW is expected in the first half of 2027.
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