CleanSpark has boosted its power capacity by 28% this October, marking a significant pivot towards artificial intelligence (AI) and high-performance computing (HPC). The American firm announced the acquisition of 271 acres near Houston, Texas, bringing in 285 megawatts of power dedicated to a new AI data center. This initiative signifies one of CleanSpark’s most substantial diversifications, as energy-intensive computing demand rises.
In addition, CleanSpark has initiated a partnership with Submer, which specializes in cooling solutions for data centers.
“While Bitcoin remains an integral part of our business, we’re equally focused on developing large-scale data centers that will power the next generation of innovation across the digital world,” said Matt Schultz, CleanSpark’s CEO and chairman.
Top Bitcoin mining companies by market capitalization.
Top Bitcoin mining companies by market capitalization. Source: CompaniesMarketCap
In October, CleanSpark mined 612 Bitcoin (BTC) and sold 589.9 BTC for approximately $64.9 million, with an average price of $110,057 per coin. The firm concluded the month with 13,033 BTC, highlighting its commitment to steady accumulation despite regular sales needed to support operations.
Bitcoin Miners Transition to AI
CleanSpark joins a growing number of Bitcoin miners shifting their focus towards AI and data infrastructure. These miners leverage their access to low-cost energy and existing facilities to manage GPU workloads and secure diversified revenue streams beyond Bitcoin.
HIVE Digital is one of the early frontrunners in this transition, beginning its diversification into AI and HPC in mid-2023 and now realizing a growing portion of its revenue from this venture.
In August, MARA Holdings announced its acquisition of a 64% interest in Exaion, a branch of the French energy corporation Électricité de France (EDF), for $168 million, aimed at enhancing low-carbon AI infrastructure.
Additionally, TeraWulf entered a 10-year, $3.7 billion hosting agreement with Fluidstack, with backing from Google, which will increase TeraWulf’s New York data centers by over 200 megawatts of new IT capacity.
Most recently, IREN secured a GPU cloud services agreement with Microsoft valued at $9.7 billion, allowing Microsoft access to Nvidia GB300 GPUs located in IREN’s data facilities.
