Water-from-air pioneer AirJoule has acquired cooling and electrical switchgear firm BitSink in a deal that could be worth up to $67 million.

Montana-based AirJoule said the deal represents “a significant expansion” of its operations “into the rapidly growing market for AI and HPC data center infrastructure.”

BitSink, which is headquartered in South Carolina, makes air and liquid cooling systems catering for 60kW to 2MW of heat rejection. The company made its name providing equipment for Bitcoin mining, and is now following many cryptomining firms by transitioning to AI and HPC.

It says its equipment currently chills 220MW of compute at data centers around the world.

AirJoule paid $18m in cash and $9m in stock for the company, with further payments in AirJoule shares worth up to $40m over the next three years if certain revenue milestones are met.

"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 CEO 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."

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 uses a proprietary sorbent, based on a metal-organic framework, to extract water particles from data center waste heat so that the water can be reused.

The company was formed as a joint venture between power technology firm GE Vernova and Montana Technologies and, in April 2025, raised $15m to help develop its system. It is working with data center developer Nexus Data Centers to install its technology at a 600MW campus being planned in Hubbard, Texas.