AirJoule Acquires BitSink for $67M to Enter AI Cooling

AirJoule Technologies has acquired BitSink for up to $67 million, moving the infrastructure firm into high-performance computing and AI data center cooling.

"BitSink brings a proven track record of delivering high-density liquid cooling and electrical infrastructure at commercial scale to cryptocurrency mining customers, which is directly applicable to the growing demand for AI and HPC," said Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies, in a GlobeNewswire release.

Transaction Terms and Financial Structure

The transaction consists of upfront consideration of $18 million in cash and $9 million in AirJoule common stock. An additional $40 million in consideration is tied to revenue milestones achieved over three calendar years following the closing of the deal.

BitSink reported cumulative revenue of approximately $11 million across 2024 and 2025. The company also holds $15 million in near-term purchase orders.

In the public markets, AirJoule Technologies Corp (AIRJ) traded at $4.08, up 0.49% from its previous close of $4.06, according to Finnhub market data.

Integrating Cooling and Atmospheric Water Generation

Executive leadership pointed to operational synergies between the two companies, specifically combining specialized cooling systems with atmospheric water generation technology.

"This transaction delivers commercial revenue contribution and substantial long-term growth potential, while also creating a natural platform to combine BitSink's cooling technology with our AirJoule atmospheric water generation capabilities into an integrated infrastructure offering for the AI and HPC data center market," added Stephen Pang, Chief Financial Officer of AirJoule Technologies.

BitSink operates a manufacturing facility in Spartanburg, South Carolina, and is expanding into a 65,000-square-foot facility in Chesnee, South Carolina. To date, the company has deployed over 220 megawatts of cooling and power capacity across North America.

Addressing Power-Dense Computing Infrastructure

Modern artificial intelligence workloads require dense server racks that generate substantial heat, pushing traditional air-cooling methods past their operational limits. Liquid cooling and advanced power distribution have become vital for maintaining energy efficiency in modern data center deployments.

"We built BitSink to solve the real-world infrastructure challenges facing increasingly power-dense computing environments," commented BitSink Founder, Stan Dyshko.

The acquisition positions AirJoule to capture capital spending as data center operators overhaul infrastructure to support large language models and high-throughput training clusters.