CleanCore Solutions Inc. (NYSE American:ZONE) announced Wednesday the closing of a $100 million public equity raise to fund its Minnesota AI data center campus.
The company stated it has approximately $140 million of project equity capital funded or committed for the Minnesota facility, including net proceeds from the equity raise and proceeds from sales of its Dogecoin holdings. CleanCore said it does not anticipate raising additional dilutive financing for the Minnesota project, expecting to fund remaining capitalization through project-level debt financing, cash flow from operations and other non-dilutive amounts.
The Minnesota campus operates under a definitive agreement with Cerebras Systems Inc. (NASDAQ:CBRS) representing approximately $800 million of contracted value over an initial 10-year term, according to a press release statement. The company said aggregate contract value could exceed $3 billion if all available renewal terms are exercised.
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