CleanSpark Pivots Beyond Bitcoin Mining with Major AI Data Center Expansion in Texas

CleanSpark expands power capacity, secures Texas site for AI push

Bitcoin miner CleanSpark expanded its power capacity by 28% in October as part of a broader push beyond crypto mining into artificial intelligence and high-performance computing (HPC). The US-based company said it had acquired 271 acres near Houston, Texas, securing 285 megawatts of long-term power for a dedicated AI data center. The move marks one of CleanSpark's largest steps yet to diversify its operations as demand for energy-intensive computing continues to surge. CleanSpark's AI move also led to a new partnership with Submer, a company that offers cooling solutions for data centers. "While Bitcoin remains an integral part of our business, we're equally focused on developing large-scale data centers that will power the next generation of innovation across the digital world," said Matt Schultz, CleanSpark's CEO and chairman. CleanSpark mined 612 Bitcoin (BTC) in October and sold 589.9 BTC for about $64.9 million, averaging $110,057 per coin. The company ended the month holding 13,033 BTC, underscoring its steady accumulation despite regular sales to fund operations. Related: Crypto czar David Sacks argues AI threat is Orwellian, not Terminator CleanSpark is part of a growing wave of Bitcoin miners pivoting toward AI and data infrastructure, using their access to low-cost power and existing facilities to host GPU workloads and capture more stable, diversified revenue beyond Bitcoin. HIVE Digital was among the early miners to diversify, starting its move into AI and high-performance computing in mid-2023 and now earning a growing share of revenue from those operations. In August, Bitcoin miner MARA Holdings agreed to acquire a 64% stake in Exaion, a subsidiary of French energy giant Électricité de France (EDF), in a $168 million deal aimed at expanding into low-carbon AI infrastructure. The same month, TeraWulf signed a 10-year, $3.7 billion hosting deal with Fluidstack, backed by Google. The partnership will add over 200 megawatts of new IT capacity to TeraWulf's New York data centers. On Monday, IREN signed a GPU cloud services contract with Microsoft valued at $9.7 billion. Under the five-year deal, Microsoft will gain access to Nvidia GB300 GPUs housed in IREN's data centers.

CleanSpark produces 612 bitcoin in October amid AI expansion push By Investing.com

LAS VEGAS - CleanSpark, Inc. (NASDAQ:CLSK) mined 612 bitcoin in October while simultaneously advancing its expansion into artificial intelligence and high-performance computing, according to a company press release issued Tuesday. The company, currently valued at approximately $4.9 billion, has seen its stock price climb 77.76% over the past year despite recent volatility. The bitcoin mining company reported an average daily production of 19.75 bitcoin for the month, with a peak single-day output of 20.42 bitcoin. CleanSpark's operational hashrate reached 50 EH/s, with an average operating hashrate of 46.6 EH/s across its fleet of 240,271 deployed miners. According to InvestingPro data, the company has achieved impressive revenue growth of 84.66% over the last twelve months, supporting its expansion efforts. As part of its business evolution, CleanSpark acquired 271 acres near Houston, Texas, and secured 285 MW of long-term power agreements for a dedicated AI data center. The company also announced the hiring of Jeffrey Thomas to lead its AI data center development and selected Submer as its first next-generation compute infrastructure partner. CleanSpark's bitcoin holdings totaled 13,033 as of October 31, with 5,444 of those posted as collateral or as a receivable. The company sold 589.88 bitcoin during the month, generating approximately $64.9 million at an average price of $110,057 per bitcoin. The company maintains a strong financial position with a current ratio of 4.37, indicating liquid assets significantly exceed short-term obligations. The company's power portfolio now includes 1.31 GW under contract, with 808 MW currently utilized to support its mining operations. "While Bitcoin remains an integral part of our business, we're equally focused on developing large-scale data centers that will power the next generation of innovation across the digital world," said Matt Schultz, Chief Executive Officer and Chairman, in the press release. The company's fiscal year 2026 began in October, marking what the company describes as the start of its business evolution with its AI and HPC strategy announcements. In other recent news, CleanSpark has made significant strides with its expansion into the Texas market through a land acquisition and power agreements aimed at developing an AI data center campus in Greater Houston. The company secured rights to 271 acres in Austin County, Texas, with power supply agreements totaling 285 megawatts. In a strategic move to further its AI data center infrastructure, CleanSpark is collaborating with Submer to explore opportunities in liquid-cooled and prefabricated data center solutions. As part of its expansion efforts, CleanSpark appointed Jeffrey Thomas as Senior Vice President of AI Data Centers, leveraging his extensive experience in emerging technologies. Additionally, BTIG raised its price target for CleanSpark to $26, maintaining a Buy rating, due to the company's substantial infrastructure growth and increased hash capacity. This reflects CleanSpark's focus on expanding its infrastructure footprint, achieving an 80% growth in hash capacity year-to-date. These developments mark a shift for CleanSpark as it aims to broaden its operations beyond bitcoin mining into AI data center infrastructure. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.