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Following
DOGE CleanCore Solutions signed a 10-year custody agreement with AI computing company Cerebras, valued at approximately $800 million.
The Minnesota data center project has a budget of US$479 million, and CleanCore could contribute as much as US$500 million.
CleanCore holds 79% of the joint venture and is required to pay an initial payment of US$40 million.
As of March 31, the company reported only US$4.1 million in cash and approximately US$44.3 million in dogcoin reserves.
CleanCore has not confirmed whether the proceeds from the sale of Dogecoin will be used to fund the Minnesota project.
CleanCore Solutions is known for its cleaning products. The company also holds a large amount of dogcoin. Today, it is moving into the field of artificial intelligence infrastructure.
On July 29, CleanCore submitted a report on its new data center project in Minnesota. The project involves a company called Cerebras, which makes AI computing hardware.
The agreement is a 10-year escrow agreement that means Cerebras will use computing space built by a joint venture in which CleanCore participates.
Contract Details
The estimated value of the contract over the first 10-year period is US$800 million. Two optional renewals could bring the total value to more than $3 billion.
The construction cost of the project is approximately US$479 million. CleanCore has agreed to contribute up to US$500 million to this end.
CleanCore owns a 79% stake in the joint venture that runs the project. Its initial payment is US$40 million, divided into US$25 million on delivery and up to US$15 million within four business days.
Subsequent payments may be made between July 2026 and February 2027. Project revenue is expected to start being generated at about the same time.
About 20 MW of power has been connected to the site, supporting an initial 15 MW computing load.
The document does not state whether the transaction has been completed, nor does it confirm whether any payments have been made.
Dogecoin positions and funding issues
CleanCore's financial situation raises questions about how it will pay for the project. As of March 31, the company had approximately $4.1 million in cash and $13 million in restricted cash.
The company also reported cumulative losses of approximately $169 million. The company said it had doubts about its ability to continue as a going concern without more funding.
CleanCore also holds a large number of Dogecoin assets. As of June 2, it had sold approximately 200 million DOGE units for US$18.4 million.
It transferred an additional 70 million DOGE units for services. The company still holds 463,060,889 DOGE units worth approximately US$44.3 million.
CleanCore said it is considering selling more dogcoins. However, it did not say whether the funds would be used for the Minnesota project.
A financing option already exists. In June, CleanCore received approval to sell up to $750 million in shares through a market-to-market offering plan. AI infrastructure was listed as one of the possible uses of the funds.
CleanCore said its ownership stake in the joint venture could be reduced if it fails to meet its capital commitments. Other parties in the transaction cannot sue CleanCore or force it to pay more.
Minnesota is not CleanCore's only AI project. The company also announced a West Texas project that completed delivery on July 9.
The Texas project allows CleanCore to invest up to $100 million in nine months. Over time, the total commitment could increase to US$2 billion.
CleanCore has not announced the time of its next financial update. The update is expected to show how the company plans to provide follow-up funding for both AI projects.
