CleanCore Solutions (ZONE) has finalised a $100m public equity raise to support the development of its Minnesota AI data centre campus.
The move follows a previously disclosed definitive agreement between CleanCore and Cerebras Systems for data centre operations at the Minnesota location.
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The contract is expected to provide around $800m in value over an initial ten-year period, with the possibility for the aggregate value to exceed $3bn if all renewal options are exercised.
Following the recent equity financing, CleanCore holds nearly $140m in project equity capital committed to the Minnesota campus.
This figure includes proceeds from the equity raise, as well as funds from the completed sale of the company’s Dogecoin holdings.
CleanCore stated it does not expect to seek further dilutive financing for the project.
The company anticipates that the remainder of the campus financing will be fulfilled through project-level debt, operational cash flow, and other non-dilutive financial arrangements specified in existing project agreements.
ZONE CEO Tyler Hassen said: “This closing does exactly what we set out to do. With the recently announced equity, ZONE is positioned to accelerate the completion of our Minnesota campus, and it deepens our institutional partnership base.
“Power is the binding constraint on AI compute today, and ZONE is building the infrastructure needed to help solve that challenge. I am committed to our mission and believe in our ability to execute, which is why I personally invested in this financing.
“Our rebrand to Zone Frontier reflects our commitment to developing next-generation data centre campuses for the world’s leading AI and technology companies.”
The firm also revealed a forthcoming name change to Zone Frontier, aligning with its ongoing focus on data centre infrastructure projects for the AI sector.
The company expects the transition to be finalised by the end of the month.
