CleanCore Solutions, a cleaning-products company that holds a large Dogecoin treasury, has committed up to $500 million to a joint venture building an AI data center in Minnesota. The venture has a 10-year colocation agreement with compute company Cerebras, with an estimated contract value of $800 million.
The joint venture structure
CleanCore holds 79% of the joint venture. It must make a $40 million initial contribution — $25 million on closing and up to $15 million within four business days. The company also has an at-the-market facility authorizing up to $750 million in common-stock sales, with AI infrastructure listed as an intended use.
The joint venture agreement includes dilution mechanisms for funding shortfalls. The filing does not disclose whether those mechanisms affect CleanCore's ownership percentage, its economic rights, or both.
Funding sources and risks
As of March 31, CleanCore reported about $4.1 million in cash and cash equivalents, $13 million in restricted cash, and a $169 million accumulated deficit. The company has a going-concern doubt in its financial statements.
As of June 2, CleanCore had sold about 200 million DOGE for $18.4 million, transferred 70 million DOGE for services, and retained 463,060,889 DOGE valued at about $44.3 million. The filing does not confirm that Dogecoin proceeds are earmarked for the Minnesota project.
The Cerebras deal and power
The colocation agreement with Cerebras runs 10 years, with two optional 10-year renewals that could push the total contract value above $3 billion. About 20 MW of utility power was already energized to support an initial 15 MW of critical IT load.
The Minnesota transaction had not yet closed as of the filing, and neither initial installment had been deposited.
A second venture in West Texas
CleanCore also announced a separate West Texas platform venture with up to $100 million in initial cash contributions and aggregate commitments up to $2 billion. Details on that project remain sparse.
The company now faces the question of how it will fund two large data center projects while carrying a thin cash position and a reliance on Dogecoin sales and stock offerings.
