CleanSpark saw its share price jump by 10.67 percent on Monday to finish at $14.42 apiece, as investor optimism was fueled by the aggressive expansion of artificial intelligence players with a series of multi-billion-dollar leasing deals.
Multi-Year Deals
On Monday, its counterpart, Hut 8 Corp., clinched a new $9.8-billion leasing deal with an existing high-investment-grade company, boosting its total lease to 704 MW.
Hut 8 said that the new deal covers a period of 15 years, with the capacity to come from the second phase of its Beacon Point data center in Nueces County, Texas.
On the same day, another peer, IREN Ltd., signed $2.8 billion worth of new AI cloud deals with leading AI developers, boosting its annualized run-rate revenue to $4 billion.
For illustration purposes only. Photo by Brett Sayles on Pexels
IREN’s customer base now includes Microsoft, NVIDIA, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AI, and a new leading AI developer, across both bare metal and managed cloud services.
The back-to-back developments reinforced bullish sentiment across the AI infrastructure space, underscoring that hyperscalers and AI developers continue to commit billions to long-term computing capacity despite broader concerns over the sustainability of aggressive AI spending.
$11.6-Billion, 20-Year Lease Deal
For its part, CleanSpark Inc. (NASDAQ:CLSK) last week said that it entered into a 20-year infrastructure leasing deal with an unnamed high-investment-grade tenant for an initial contract revenue of $6.6 billion.
The agreement also covers the option to extend the lease for two five-year periods, which, if exercised, could boost its total leasing revenues to $11.6 billion.
The deal marks one of the listed firm’s most strategic milestones to date, shifting investor focus beyond its core Bitcoin mining operations toward the rapidly expanding AI data center market, where demand for power and computing capacity continues to outpace supply.
Under the agreement, the tenant will deploy production-grade infrastructure at CleanSpark Inc.’s (NASDAQ:CLSK) Sandersville campus in Georgia to support a range of computing workloads.
Hedge Fund Participation, Conviction Jump
Institutional investors have grown increasingly bullish on CleanSpark Inc. (NASDAQ:CLSK) amid the rosy growth prospects from the artificial intelligence industry.
Data from Insider Monkey showed that 37 hedge funds held positions in the company as of the first quarter of the year, up from 32 in the quarter prior.
Notably, their combined holdings soared by 62 percent to $263.7 million from $161.8 million quarter-on-quarter.
The higher figures signaled that large investors are positioning their portfolios on the belief that CleanSpark Inc. (NASDAQ:CLSK) is set to largely capitalize on the further expansion of power and infrastructure.
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