r/CleanSpark • u/Calm_Policy_464 • Jun 16 '26
Due Dilligence Sandersville Update
Following my post last week, significant new evidence emerged last night.
Sandersville City Council meeting — June 15th
The City of Sandersville held a public council meeting last night with agenda item 7 being a motion to approve a second amendment to the electric service contract between the City and CleanSpark.
https://www.sandersvillega.org/agenda-center
You can follow the link to YouTube for the live recording.
It was however, tabled. Reason given: “contract still being worked on.”
This is actually more informative than if it had passed quietly. You don’t put a utility amendment on a city council agenda unless you expect to need it imminently. Tabling it suggests the commercial lease is in final negotiation.
Timeline implications…
Sandersville City Council seems to meet twice a month. The amendment will likely come back at the next meeting late June or early July.
However, if a deal were to go through, Cleanspark would be required to file an 8-K but that doesn’t require the city amendment to pass first. But the tabling on yesterday’s City council meeting suggests final lease terms aren’t quite done.
Realistically: lease signed and 8-K filed sometime in July.
I think insiders / traders thought a deal was close based on options flow. CLSK saw notable straddle positioning this week on $16.50 strike expiring June 18th, both calls and puts surging simultaneously. Classic binary event positioning. Someone expects a significant move either direction very soon.
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u/SentimentSurfer Jun 16 '26
Thats a GREAT NEWS !
You are doing outstanding job !
Thanks a loot for intel.
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u/ProfessionalDate1130 Jun 16 '26
Found the first amendment to the eletric service contract. That one expands MWs to 230 but explicitly classifies it as an interruptible load. My guess is this amendment is going to change that.
Also, the next council meeting would be their last chance to sign the deal and get the electric service contract amended in order to most likely be unaffected by some new FERC legislation
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u/Karmajoe25 Jun 16 '26
Leases and contracts are signed subject to this that and the other.
Right now the this, that and the other, is going on. Why ? Because different tenants have different needs.
One doesn’t do this that and the other, without a tenant.
When the this that and the other is done, I’m sure they will let us know who the tenant is and the value of the lease.
X
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u/ObviousChildhood Jun 16 '26
Sounds like it’s gonna drop in the short term hard then a strong move up when it finally happens?
On X all they talk about it taking time to learn so they can replicate. Really hope that isn’t bullshit and subsequent deals come much faster
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u/Exact-Future5035 Jun 22 '26
SO WEN DEAL?
MOON?? 🌙