CleanSpark, a Nasdaq listed Bitcoin mining company, saw its shares soar over 13% after it announced an expansion strategy into artificial intelligence.
CleanSpark is the 5th largest Bitcoin exchange (BTCThe largest mining company in the world by capitalization announced that it would expand its AI datacenter infrastructure to increase revenue and cash flow.
CleanSpark appointed Jeffrey Thomas, senior vice-president of AI datacenters, as the leader for the project. announced Monday is a holiday.
Thomas was the former President of AI Datacenters for Saudi AI Company Humain. He led Saudi Arabia’s multibillion-dollar AI Data Center Program. According to his announcement, Thomas has created shareholder value of over $12 billion across 19 different ventures.
“We have been reviewing the entire portfolio from first principals to evaluate AI suitability and have identified Georgia as a strategic region for both potential conversion as well as expansion,” Scott Garrison is the chief development officer at ClearSpark and also executive vice president.
“We recently contracted for additional power and real estate in College Park to deliver high-value compute to the greater Atlanta metro area and are evaluating giga-campus opportunities across the portfolio and pipeline that are well positioned to satisfy significant off-taker demand.”
Shareholders welcomed the strategic expansion, as CleanSpark’s stock price rose over 13% on Monday, after rising 140% year-to-date in 2025, according to data Google Finance
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The pressure on Bitcoin mining has increased, and miners have been looking for new ways to earn money.
CleanSpark’s pivotal strategic shift comes after the postBitcoin halving Other mining companies are being pushed to find new revenue streams.
Some of the biggest Bitcoin mining firms Core Scientific Hut 8 Iris Energy and others have all announced AI strategic pivots since 2024.
In June 2024, Core Scientific announced CoreWeave, a cloud AI provider with a revenue of $3.5billion, has agreed to provide CoreWeave an extra 200 megawatts in infrastructure. This will be used to support CoreWeave’s operations for high-performance computing.
Cointelegraph reports that the deal will generate an initial revenue total of $3.5 billion over the first 12 years of contract terms for the largest Bitcoin mining company in the world.
Core Scientific has filed for bankruptcy, but the AI expansion strategy saved their business. Chapter 11 bankruptcy Two years prior to getting married in 2022. relisted on the Nasdaq Its AI pivot is ahead.
Related: Grok, DeepSeek outperform ChatGPT, Gemini with epic crypto market long
After launching in 2024, Hut 8 began offering AI services. GPU-as-a-Service offering Highrise AI, a newly formed subsidiary.
June, Hut 8 received Coatue Management has invested $150 million in the tech company to assist it. “capitalize” The demand for AI computer power is growing.
Magazine: Bitcoin mining industry ‘going to be dead in 2 years’ — Bit Digital CEO
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Source: cointelegraph.com
