CleanSpark Names Meta as Tenant Behind $6.6 Billion Data Center Lease
AI-generated image: synthetic visual, not an actual depiction of events, people, or locations.
Key Takeaways
- The $2.227 billion senior secured notes offering is intended to fund the completion of the Sandersville Facility data center.
- CleanSpark will provide a completion guarantee for the project, and the notes will be secured by first-priority liens on the subsidiary's assets.
CleanSpark (NASDAQ: CLSK) has identified Meta Platforms as the company behind its previously announced $6.6 billion data center lease in Georgia, as it seeks $2.227 billion in secured debt to finance the project.
Anviran LLC, a wholly owned Meta subsidiary, is the tenant at the 175-megawatt Sandersville campus, according to a financing presentation disclosed on Thursday. 17. Meta guarantees rent and operating expenses under the agreement, the presentation shows.
The disclosure identifies the counterparty to a 20-year lease CleanSpark announced in July, when it described the customer only as a global technology company with a high investment-grade credit profile. CleanSpark said then that the lease would generate approximately $6.6 billion in revenue over its initial term.
The financing presentation projects rent beginning Nov. 30, 2027, after completion of the first network hall, with construction expected to finish in March 2028. It lists annual rent increases of 3% and development costs of approximately $11.9 million per megawatt of critical IT capacity.
