CleanCore signs $800M AI deal as Dogecoin treasury firms pivot

CleanCore Solutions signed a 10-year, $800 million colocation agreement with Cerebras Systems, marking the Dogecoin treasury firm's second AI infrastructure project.

"This second development marks an important milestone in advancing our portfolio of critical digital infrastructure to secure compute capacity for Cerebras and other premier AI companies," Tyler Hassen, CEO of ZONE, said.

The Minnesota campus, built to Tier 3 standards, will deliver 55 MW of utility power and 40 MW of critical IT load at full buildout. About 20 MW is already energized, supporting an initial 15 MW of compute load. CleanCore owns 79 percent of the joint venture and must make an initial $40 million payment — $25 million at closing and up to $15 million within four business days. Revenue is expected to begin in the first quarter of 2027.

The deal raises questions about how CleanCore will fund its commitments. The company reported $4.1 million in cash as of March 31, alongside an accumulated deficit of roughly $169 million. CleanCore still holds 463,060,889 DOGE worth about $44.3 million and has said it is considering selling more of its Dogecoin holdings, though it has not confirmed whether proceeds would fund the Minnesota project.

The contract includes two 10-year renewal options that could push total value above $3 billion. The project is 100 percent pre-leased under the long-term agreement with Cerebras, providing revenue visibility from commencement of operations.

CleanCore's funding gap is substantial. The company has approved an at-the-market program to sell up to $750 million in stock, with AI infrastructure listed as a possible use. If CleanCore cannot meet its funding commitments, its ownership stake in the joint venture could be reduced, though other parties cannot sue the company or force it to pay more.

The Minnesota deal follows a West Texas venture that closed July 9, allowing CleanCore to contribute up to $100 million over nine months, with potential to grow to $2 billion in total commitments.

CleanCore's Dogecoin treasury has been a defining feature of the company. As of June 2, it had sold about 200 million DOGE for $18.4 million and transferred another 70 million DOGE for services. The remaining 463 million DOGE represents a significant potential funding source, though the company has not specified how it would deploy those proceeds.

The pivot from cleaning products to AI infrastructure reflects a broader shift among crypto treasury companies seeking new revenue models. Cerebras, which trades on NASDAQ under CBRS, describes itself as building the world's fastest AI infrastructure.

CleanCore has not yet announced when its next financial update will be released. That update is expected to show how the company plans to fund both AI projects going forward.

This article is for informational purposes only and does not constitute investment advice.