AirJoule Technologies is broadening its position in the data-center infrastructure market with the acquisition of BitSink, a U.S. designer and manufacturer serving high-density computing environments. The deal gives AirJoule an operating business with U.S. manufacturing capacity, established customer relationships and products spanning liquid cooling, electrical distribution and equipment racking. More importantly, it places AirJoule closer to three constraints increasingly shaping the economics of AI data centers: cooling, electricity and water. The transaction also gives the company a commercial platform from which to connect its existing atmospheric water-generation technology with infrastructure already deployed around power-intensive computing.

AirJoule acquired 100% of BitSink for $18 million in cash and $9 million in AirJoule common stock, with the acquired business carrying no debt. The company priced the stock component using its 15-day volume-weighted average price before the closing. The transaction also carries an earnout worth as much as $40 million, payable entirely in AirJoule shares and linked to revenue milestones during the three calendar years following closing. That structure ties a substantial portion of the purchase consideration to BitSink’s ability to expand its revenue base after joining AirJoule.

Liquid Cooling Becomes a Strategic Asset

The strategic logic rests on a shift in computing density that increasingly challenges conventional air cooling. New generations of AI and HPC chips push rack power requirements beyond practical air-cooling limits, accelerating adoption of liquid-based architectures. Bloomberg Intelligence projects the liquid-cooling market for data centers to rise from about $3.7 billion in 2025 to roughly $11.5 billion by 2030, with direct-to-chip systems accounting for 87% of the architecture. That expansion gives BitSink a position in a market where cooling has moved from an engineering consideration toward a central constraint on deployment.

“The rapid buildout of AI and HPC infrastructure is fundamentally changing the requirements for cooling and water across the data center ecosystem,” said Matt Jore, Founder and Chief Executive Officer of AirJoule Technologies. “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. This acquisition transforms AirJoule Technologies into a broader infrastructure solutions provider capable of addressing these interconnected constraints. We are excited to welcome the entire BitSink team to AirJoule Technologies.”

Crypto Infrastructure Offers an AI Conversion Path

BitSink’s cryptocurrency-mining customer base gives AirJoule exposure to another emerging source of AI capacity: the conversion of existing mining infrastructure into higher-value computing facilities. Public bitcoin miners have announced more than $70 billion in AI and HPC contracts, creating a sizable pipeline for retrofits that can repurpose existing power capacity. Those conversions can offer economics substantially below greenfield development, making cooling and electrical equipment critical to the transition. Meanwhile, BitSink’s experience supplying those systems positions the company to participate as mining operators redirect megawatts toward AI workloads.

BitSink Founder Stan Dyshko said, “We built BitSink to solve the real-world infrastructure challenges facing increasingly power-dense computing environments. Joining AirJoule Technologies gives us additional resources and relationships to expand our manufacturing capabilities and reach new customers. It also creates an exciting opportunity to integrate BitSink’s cooling and power infrastructure and the AirJoule atmospheric water generation technology to address the physical infrastructure constraints faced by data center developers.”

AirJoule Links Cooling With Water Generation

The acquisition also advances AirJoule’s broader data-center strategy through its 50/50 joint venture with GE Vernova. In June 2026, that initiative commissioned the first AirJoule Prime atmospheric water-generation system, which uses low-grade waste heat to produce pure distilled water from air. Prime is now traveling to Europe for a first-of-a-kind deployment at a European data center during the fourth quarter of 2026 through a partnership with the Net Zero Innovation Hub for Data Centers.

At the same time, BitSink’s closed-loop cooling systems could create a direct technical connection with AirJoule Prime because those systems reject the low-grade waste heat that Prime can use for water production. The potential integration could allow AirJoule to approach cooling and water as connected infrastructure requirements rather than separate equipment categories. Stephen Pang, Chief Financial Officer of AirJoule Technologies, said, “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. We believe this creates meaningful value for AIRJ shareholders.”

For AirJoule, the BitSink purchase represents a move beyond atmospheric water technology toward a broader infrastructure proposition built around the physical demands of advanced computing. The company now gains manufacturing, cooling and electrical capabilities alongside its water-generation platform, while BitSink gains additional resources and commercial reach. The earnout structure keeps much of the transaction’s potential cost tied to future revenue performance rather than upfront cash deployment. The larger strategic question is whether AirJoule can turn these complementary technologies into an integrated offering as AI infrastructure investment increasingly collides with limits on power, cooling and water.