Nasdaq-listed Bitcoin mining firm CleanSpark’s shares soared over 13% on Monday, after the corporate introduced a strategic enlargement into synthetic intelligence.
CleanSpark, the fifth-largest Bitcoin (BTC) mining firm by market capitalization, introduced a brand new technique to increase into AI information middle infrastructure, aiming to diversify its income streams and strengthen long-term money movement potential.
To steer the initiative, the corporate appointed Jeffrey Thomas as senior vp of AI information facilities, CleanSpark announced on Monday.
Thomas beforehand led Saudi Arabia’s multi-billion AI information middle program as former president of AI Knowledge facilities at Saudi AI firm Humain. By way of his profession, he created over $12 billion price of shareholder worth throughout 19 ventures, in keeping with the announcement.
“Now we have been reviewing the whole portfolio from first principals to guage AI suitability and have recognized Georgia as a strategic area for each potential conversion in addition to enlargement,” wrote Scott Garrison, chief growth officer and government vp at ClearSpark, including:
“We not too long ago contracted for added energy and actual property in School Park to ship high-value compute to the higher Atlanta metro space and are evaluating giga-campus alternatives throughout the portfolio and pipeline which might be properly positioned to fulfill vital off-taker demand.”
Shareholders welcomed the strategic enlargement, as CleanSpark’s inventory worth rose over 13% on Monday, after rising 140% year-to-date in 2025, in keeping with data from Google Finance.
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Bitcoin miners are in search of new income sources amid post-halving stress
CleanSpark’s strategic pivot comes because the post-Bitcoin halving stress is driving different mining corporations to discover new sources of income.
A few of the largest Bitcoin mining firms have introduced comparable strategic pivots to AI for the reason that starting of 2024, together with Core Scientific, Hut 8 and Iris Power.
In June 2024, Core Scientific announced a $3.5 billion cope with AI cloud supplier CoreWeave to offer an extra 200 megawatts of infrastructure to host CoreWeave’s high-performance computing (HPC) operations.
The deal is predicted to generate a complete cumulative income of over $3.5 billion for the world’s largest Bitcoin mining agency, throughout the preliminary 12-year phrases of the contracts, Cointelegraph reported.
The strategic enlargement into AI has saved the Bitcoin miner’s enterprise mannequin, as Core Scientific filed for Chapter 11 bankruptcy in 2022, two years earlier than getting relisted on the Nasdaq forward of its AI pivot.
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Bitcoin mining firm Hut 8 ventured into AI providers in September 2024, after launching a GPU-as-a-Service offering by means of a brand new subsidiary, Highrise AI.
June, Hut 8 received a $150 million funding from tech-focused funding supervisor Coatue Administration, to assist the corporate “capitalize” on the rising demand for AI computing energy.
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