AirJoule acquires BitSink for up to $67 million
Type: Acquisition · Technology: Data Center · Country: United States · Value: $67M · Announced: 2026-09-16
AirJoule Technologies, a water-from-air pioneer based in Montana, acquired cooling and electrical switchgear firm BitSink, headquartered in South Carolina, in a deal potentially worth up to $67 million. The transaction, valued at $18 million in cash and $9 million in stock, includes further payments of up to $40 million in AirJoule shares contingent on revenue milestones over the next three years. BitSink, which previously specialized in equipment for Bitcoin mining, now provides air and liquid cooling systems capable of rejecting 60kW to 2MW of heat and currently chills 220MW of compute globally. The acquisition aims to expand AirJoule's operations into the AI and HPC data center infrastructure market.
Analysis
AirJoule Technologies of Montana acquired BitSink of South Carolina for up to $67 million, comprising $18 million in cash and $9 million in stock. BitSink, formerly a Bitcoin‑mining equipment supplier, now offers air and liquid cooling systems that reject 60 kW to 2 MW of heat and chill 220 MW of compute globally. AirJoule develops atmospheric water harvesting and waste‑heat recovery systems for industrial applications such as data centers. The agreement provides for up to $40 million of additional AirJoule shares tied to revenue milestones over the next three years. The acquisition was announced on 2026-09-16.
Key points
- AirJoule Technologies (Montana) acquiring BitSink (South Carolina)
- Deal value up to $67 million ($18 M cash, $9 M stock, up to $40 M earn‑out)
- BitSink cooling capacity 60 kW‑2 MW per unit, 220 MW total compute chilled
- Revenue‑milestone earn‑out payable over three years
- Announcement date 2026-09-16
Counterparties
- BitSink (Seller)
- AirJoule Technologies (Buyer)
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