AirJoule Technologies Acquires BitSink, Adding Profitable AI & HPC Infrastructure Cooling Business
AirJoule Technologies has acquired BitSink, a U.S.-based maker of cooling, electrical distribution and racking infrastructure for AI and HPC data centers, for upfront consideration of $18 million in cash and $9 million in AIRJ stock, plus an earnout of up to $40 million in stock tied to three-year revenue milestones. BitSink adds a profitable operating business with approximately $11 million of cumulative revenue across 2024-2025, $15 million in near-term purchase orders, and more than 220 MW of deployed capacity across North America, expanding AirJoule's addressable market from $20 billion to $70 billion.
Key figures
- Deal Value Usd
- $27 million upfront ($18M cash + $9M AIRJ stock), plus up to $40 million stock earnout
- Earnout max
- 40000000
- Upfront cash
- 18000000
- Upfront stock
- 9000000
- Earnout structure
- AIRJ common stock tied to BitSink revenue milestones over three calendar years post-closing
- Bitsink facility sqft
- 65000
- Bitsink deployed capacity
- 220+ MW across North America
- Bitsink revenue 2024 2025
- $11 million cumulative
- Near term purchase orders
- $15 million
- Addressable market expansion
- from $20 billion to $70 billion
- Airj cash balance 2026 08 31
- 45000000
AI analysis
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