CleanSpark shares, listed on Nasdaq and engaged in Bitcoin mining, surged by over 13 percent after the company’s announcement of a new strategic focus.
CleanSpark is the fifth largest Bitcoin (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 has appointed Jeffrey Thomas to lead this initiative as its senior vice president for AI data centres. announced On Monday,
Thomas led Saudi Arabia’s billion-dollar AI data centers program when he was president of AI Data Centers at Saudi AI Company Humain. In his career he has generated over $12 Billion in shareholder value through 19 projects, the announcement said.
“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
Related: Elon Musk touts Bitcoin as energy-based and inflation-proof, unlike ‘fake fiat’
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.
The largest Bitcoin mining firms Core Scientific Hut 8 Iris Energy, and other companies have made similar announcements about AI strategy since the start of 2024.
In June 2024, Core Scientific announced CoreWeave, a cloud AI provider with a revenue of $3.5billion, has agreed to purchase 200 megawatts additional infrastructure in order to support CoreWeave’s high-performance computer (HPC).
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 In 2022, you will have two years to get your passport. relisted on the Nasdaq The AI pivot was placed ahead of the AI.
Related: Grok, DeepSeek outperform ChatGPT, Gemini with epic crypto market long
Hut 8 has launched AI services after it began mining bitcoins in September 2024. GPU-as-a-Service offering Highrise AI, a newly formed subsidiary.
June, Hut 8 received Coatue Management is investing $150 million to support the business. “capitalize” On the increasing demand for AI computing.
Magazine: Bitcoin mining industry ‘going to be dead in 2 years’ — Bit Digital CEO
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Source: cointelegraph.com
