CleanSpark acquires 271 acres in Austin and executes power supply agreements

Core Insights - CleanSpark (CLSK) has acquired approximately 271 acres of land in Austin County, Texas, and entered into long-term power supply agreements totaling 285 megawatts to support a next-generation data center campus [1] - The acquisition positions CleanSpark to provide scalable, resilient, and energy-efficient capacity to meet the growing demand from AI, cloud, and enterprise workloads [1] - The site is strategically located on a regional fiber backbone and has strong grid infrastructure, with proximity to high-capacity natural gas pipelines, enhancing CleanSpark's diversification beyond bitcoin mining into high-performance computing [1] Acquisition Details - The purchase agreement involved a combination of cash and shares of CleanSpark's common stock at closing, with additional cash consideration contingent on post-closing events [1] - The land acquisition and power agreements are aimed at supporting the development of a data center campus that can cater to increasing technological demands [1] Strategic Positioning - CleanSpark's new site offers a favorable platform for industrial-scale behind-the-meter generation opportunities, which aligns with the company's strategy to diversify its operations [1] - The investment reflects CleanSpark's commitment to expanding its capabilities in the high-performance computing sector, responding to market trends in AI and cloud services [1]