CleanSpark, Inc., primarily known as America's Bitcoin Miner®, is making significant strides in diversifying its operations, signaling a major push into the artificial intelligence (AI) and high-performance computing (HPC) sectors. The company's recent moves include expanding its power capacity and securing a substantial site in Texas for a dedicated AI data center.
In October 2025, CleanSpark increased its contracted power capacity by 28%. This expansion supports both its existing Bitcoin mining operations and its new venture into AI and HPC. The company mined 612 Bitcoin in October and sold 589.9 BTC for roughly $64.9 million, averaging $110,057 per coin. CleanSpark's Bitcoin holdings totaled 13,033 as of October 31, with 5,444 posted as collateral or as a receivable. The company'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.
A key element of CleanSpark's AI strategy is the acquisition of rights to 271 acres of land in Austin County, Texas. Complementing this land acquisition, the company has secured long-term power supply agreements totaling 285 megawatts. These transactions are geared towards the development of a next-generation data center campus designed to handle AI, cloud, and enterprise workloads. The company expects to energize over 200 MW in the first half of 2027, with substation construction already underway and long lead-time equipment secured. The site is strategically located between Houston and Austin, providing access to a regional fiber backbone and multiple high-capacity natural gas pipelines, which CleanSpark is considering for large-scale behind-the-meter generation.
To spearhead its AI initiatives, CleanSpark appointed Jeffrey Thomas as Senior Vice President of AI Data Centers. Thomas, who previously led Saudi Arabia's multi-billion-dollar AI data center initiative at Humain, will oversee the development and operation of CleanSpark's AI-focused facilities. CleanSpark is also evaluating the potential to convert or expand some of its existing Bitcoin mining facilities in Georgia into HPC capacity. Additionally, CleanSpark has partnered with Submer, a company specializing in cooling solutions for data centers, to support its advanced computing infrastructure.
CleanSpark's CEO and Chairman, Matt Schultz, emphasized that while Bitcoin remains integral to the business, the company is equally focused on developing large-scale data centers to power the next generation of innovation across the digital world.
CleanSpark's expansion into AI and HPC reflects a broader trend among Bitcoin miners to diversify their revenue streams. Companies like HIVE Digital and MARA Holdings have also ventured into AI and data infrastructure, leveraging their access to low-cost power and existing facilities.
CleanSpark's financial health appears strong, with a current ratio of 4.37, indicating that its liquid assets significantly exceed its short-term obligations. The company has experienced a 9.4% revenue growth over the past three years. CleanSpark's strategic shift towards AI and HPC is supported by its robust infrastructure and a clear vision for the future of digital innovation. 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.
