AirJoule Technologies has acquired US-based BitSink, which designs and manufactures cooling, electrical distribution, and racking infrastructure for AI and high-performance computing (HPC) data centres.
The transaction is valued at $18m in upfront and $9m in AirJoule common stock.
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It aims to broaden AirJoule’s presence in the data centre infrastructure sector, particularly as demand rises for AI and HPC solutions requiring efficient cooling and power systems.
The agreement includes a potential additional consideration of up to $40m in AirJoule common stock, contingent on BitSink reaching revenue milestones over the next three years following closing.
According to AirJoule, BitSink has already deployed more than 220MW of equipment throughout North America and brings a profitable business with US manufacturing capabilities.
The company’s existing customer relationships and product portfolio are expected to address significant challenges in next-generation data centres relating to cooling, power, and water use.
AirJoule Technologies founder and CEO Matt Jore said: “The rapid buildout of AI and HPC infrastructure is fundamentally changing the requirements for cooling and water across the data centre ecosystem.
“BitSink brings a proven track record of delivering high-density liquid cooling and electrical infrastructure at commercial scale to cryptocurrency mining customers, which is directly applicable to the growing demand for AI and HPC.
“This acquisition transforms AirJoule Technologies into a broader infrastructure solutions provider capable of addressing these interconnected constraints. We are excited to welcome the entire BitSink team to AirJoule Technologies.”
AirJoule’s current initiatives, including its Prime atmospheric water generation (AWG) system designed for data centre environments, will be complemented by BitSink’s closed-loop liquid cooling systems.
This integration is intended to tackle the increasing rack densities, electrical usage, and water concerns in modern data centres.
BitSink, which operates a manufacturing facility in Spartanburg, South Carolina, and is expanding into a larger plant in Chesnee, South Carolina, reported cumulative revenue of around $11m for 2024 and 2025 and holds $15m in near-term purchase orders.
Vinson & Elkins advised AirJoule. B. Riley Securities acted as BitSink’s exclusive financial adviser, while Zarif Law Group provided legal advice to BitSink.
