AirJoule Technologies, a water-from-air cooling platform, acquired BitSink to expand into AI and HPC data center infrastructure.

RONAN, Mont., Sept. 14, 2026 — AirJoule Technologies Corporation, a leading platform technology that unleashes the power of water from air, today announced that it has acquired BitSink, a U.S.-based designer and manufacturer of cooling, electrical distribution, and racking infrastructure for AI and high-performance computing (HPC) data centers.

The acquisition represents a significant expansion of AirJoule Technologies’ operations into the rapidly growing market for AI and HPC data center infrastructure. BitSink brings an established and profitable operating business with U.S. manufacturing capabilities, a portfolio of deployed cooling and electrical infrastructure products, and existing customer relationships. This enhances AirJoule’s differentiated platform, which addresses three of the most critical constraints facing next-generation AI data centers: cooling, power infrastructure, and water.

Under the terms of the transaction, AirJoule Technologies acquired 100% of BitSink for upfront consideration of $18 million in cash and $9 million in AIRJ common stock. The deal also includes up to $40 million in additional consideration payable in AIRJ common stock, contingent on BitSink achieving specified revenue milestones over the three calendar years following closing. This structure aligns a majority of the potential consideration with the future performance of the acquired business.

“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.”

Stephen Pang, Chief Financial Officer of AirJoule Technologies, added, “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.”

BitSink Founder Stan Dyshko commented, “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 with AirJoule’s atmospheric water generation technology to address the physical infrastructure constraints faced by data center developers.”

Strategic Rationale

AI and HPC are driving a fundamental change in data center infrastructure requirements. Next-generation chips are elevating rack densities well beyond the practical limits of air cooling, making liquid cooling a necessity. Bloomberg Intelligence projects the data center liquid cooling market to grow from approximately $3.7 billion in 2025 to approximately $11.5 billion by 2030, with direct-to-chip accounting for 87% of liquid-cooling architecture. Substantially greater electrical loads are creating supply chain bottlenecks for switchgear, power distribution, and related infrastructure. Simultaneously, water availability and consumption are becoming increasingly critical considerations for data center development.

BitSink’s proven cooling architecture, including liquid cooling systems, is well positioned for the accelerating conversion of high-density crypto-mining infrastructure to AI and HPC workloads. Public Bitcoin miners have announced more than $70 billion in AI and HPC contracts, with major operators converting mining megawatts to AI and HPC compute at retrofit economics that are substantially lower than the cost of greenfield development. BitSink’s track record of delivering high-quality cooling and electrical equipment in this market positions it to capitalize on this crypto-to-AI transition.

BitSink provides AirJoule Technologies with an established operating platform addressing these infrastructure trends across three key areas:

• Water: The AirJoule Prime atmospheric water generation (AWG) system is designed to leverage waste heat to extract water from air, enabling distributed and resilient production of pure distilled water.

• Cooling: BitSink designs, manufactures, and installs cooling systems that enable liquid cooling for high-density workloads, including fully integrated modular data center blocks.

• Power Infrastructure: BitSink’s electrical equipment products include switchboards, power distribution units, and equipment racks that support the delivery and management of the substantial electrical loads required by high-density computing applications.

The transaction accelerates AirJoule Technologies’ existing initiatives to address data center infrastructure needs through its 50/50 joint venture with GE Vernova, including the June 2026 commissioning of the first AirJoule Prime AWG system. Prime, which utilizes low-grade waste heat to produce pure distilled water from air, is currently in transit to Europe for a first-of-a-kind deployment at a European data center in Q4 2026 through a partnership with the Net Zero Innovation Hub for Data Centers. The BitSink acquisition directly complements this strategy: its closed-loop cooling systems reject the exact type of low-grade waste heat that AirJoule Prime uses in its water generation process, creating a significant integration opportunity between the two product lines.

About AirJoule Technologies Corporation

AirJoule Technologies Corporation (Nasdaq: AIRJ) is a leading platform technology that unleashes the power of water from air. Through its joint venture with GE Vernova and in partnership with Carrier Global Corporation, the company’s purpose is freeing the world of its water and energy constraints by delivering groundbreaking sorption technologies. For more information, visit https://airjouletech.com .