CleanSpark shares jump after announcing shift into AI data center operations

TLDR

• CleanSpark stock jumped over 13% after revealing AI data center plans
• CleanSpark named Jeffrey Thomas to lead its new AI infrastructure unit
• The firm secured new power and real estate in Georgia for AI buildout
• CleanSpark joins other miners shifting to AI due to Bitcoin halving cuts

Bitcoin miner CleanSpark saw its stock rise over 13% after it announced a move into AI-related services. The company shared plans to expand into AI data center infrastructure to reduce its reliance on Bitcoin mining. Investors responded quickly, pushing shares higher. The announcement also comes during a year when Bitcoin miners are under growing pressure to seek other sources of income following the most recent Bitcoin halving.

CleanSpark Expands Into AI Infrastructure

CleanSpark, a Bitcoin mining company listed on Nasdaq, confirmed its new strategy to enter the AI infrastructure market. The company plans to build and operate AI-focused data centers to support high-performance computing needs.

The company’s leadership stated that this move will help diversify its operations and support long-term cash flow. CleanSpark is currently the fifth-largest Bitcoin miner by market value. Its latest move is aimed at aligning with growing demand for computing power used in AI services.

To lead the AI strategy, CleanSpark appointed Jeffrey Thomas as senior vice president of AI data centers. Thomas formerly worked in Saudi Arabia where he headed a large-scale AI data center program. According to CleanSpark, he has helped create over $12 billion in shareholder value across 19 ventures during his career.

Focus on Georgia for Development and Power Access

CleanSpark said it has chosen Georgia as a key region for this expansion. The company is already reviewing its existing locations to assess where AI infrastructure can be supported or added.

Scott Garrison, CleanSpark’s chief development officer, said the company had secured additional power and real estate in College Park, Georgia. He added, “We are evaluating giga-campus opportunities across the portfolio and pipeline that are well positioned to satisfy significant off-taker demand.”

Georgia is viewed as a suitable location due to access to energy, available land, and a supportive local environment for tech operations. CleanSpark said it wants to deliver high-value computing resources to the Atlanta metro area and possibly beyond.

Stock Performance Rises With Strategy Change

Following the announcement, CleanSpark’s shares rose over 13% on Monday. The stock has also gained over 140% so far in 2025, based on data from Google Finance.

Investors appear to support the company’s strategy to reduce its reliance on Bitcoin mining revenue, especially after the most recent halving. The halving event reduced mining rewards, putting pressure on many miners to find other income sources to maintain operations.

Other Bitcoin Miners Also Turning to AI Services

CleanSpark is not the only Bitcoin miner making a shift toward AI-related infrastructure. Several large firms, including Core Scientific, Hut 8, and Iris Energy, have taken similar steps in 2024 and 2025.

In June 2024, Core Scientific announced a $3.5 billion deal with CoreWeave to host AI cloud services using its infrastructure. This deal included 200 megawatts of capacity and could bring in more than $3.5 billion over a 12-year term. Core Scientific had earlier filed for bankruptcy in 2022 but has since recovered and returned to Nasdaq.

Hut 8, another major miner, launched a GPU-as-a-Service unit named Highrise AI in September 2024. The company also received a $150 million investment from Coatue Management to grow its AI capabilities.

As mining rewards drop and energy costs stay high, more Bitcoin mining companies are expanding their business models. These shifts are aimed at staying competitive while meeting the increasing demand for AI computing infrastructure.

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