{"id":87674,"date":"2025-10-20T23:51:11","date_gmt":"2025-10-20T23:51:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/87674\/"},"modified":"2025-10-20T23:51:11","modified_gmt":"2025-10-20T23:51:11","slug":"cleanspark-shares-rise-13-after-bitcoin-miners-ai-expansion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/87674\/","title":{"rendered":"CleanSpark Shares Rise 13% After Bitcoin Miner\u2019s AI Expansion"},"content":{"rendered":"

Nasdaq-listed Bitcoin mining company CleanSpark’s shares soared over 13% on Monday, after the company announced a strategic expansion into artificial intelligence.<\/p>\n

CleanSpark, the fifth-largest Bitcoin (BTC<\/a>) mining company by market capitalization, announced a new strategy to expand into AI data center infrastructure, aiming to diversify its revenue streams and strengthen long-term cash flow potential.<\/p>\n

To lead the initiative, the company appointed Jeffrey Thomas as senior vice president of AI data centers, CleanSpark announced<\/a> on Monday.<\/p>\n

Thomas previously led Saudi Arabia\u2019s multi-billion AI data center program as former president of AI Data centers at Saudi AI company Humain. Through his career, he created over $12 billion worth of shareholder value across 19 ventures, according to the announcement.<\/p>\n

CleanSpark announced strategic expansion into AI. Source: CleanSpark.com<\/a><\/p>\n

“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,” wrote Scott Garrison, chief development officer and executive vice president at ClearSpark, adding:<\/p>\n

\u00a0“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.\u201d<\/p>\n

Shareholders welcomed the strategic expansion, as CleanSpark\u2019s stock price rose over 13% on Monday, after rising 140% year-to-date in 2025,\u00a0 according to data <\/a>from Google Finance.<\/p>\n

CleanSpark share price, 24-hour chart. Source: Google.com<\/a><\/p>\n

Related: Elon Musk touts Bitcoin as energy-based and inflation-proof, unlike \u2018fake fiat\u2019<\/a><\/p>\n

Bitcoin miners are seeking new revenue sources amid post-halving pressure<\/p>\n

CleanSpark\u2019s strategic pivot comes as the post-Bitcoin halving<\/a> pressure is driving other mining companies to explore new sources of revenue.<\/p>\n

Some of the largest Bitcoin mining firms<\/a> have announced similar strategic pivots to AI since the beginning of 2024, including Core Scientific, Hut 8 and Iris Energy.<\/p>\n

In June 2024, Core Scientific announced<\/a> a $3.5 billion deal with AI cloud provider CoreWeave to provide an additional 200 megawatts of infrastructure to host CoreWeave\u2019s high-performance computing (HPC) operations.<\/p>\n

The deal is expected to generate a total cumulative revenue of over $3.5 billion for the world\u2019s largest Bitcoin mining firm, during the initial 12-year terms of the contracts, Cointelegraph reported.<\/p>\n

The strategic expansion into AI has saved the Bitcoin miner\u2019s business model, as Core Scientific filed for Chapter 11 bankruptcy<\/a> in 2022, two years before getting relisted on the Nasdaq<\/a> ahead of its AI pivot.<\/p>\n

Related: Grok, DeepSeek outperform ChatGPT, Gemini with epic crypto market long<\/a><\/p>\n

Donald Trump, Jr. left, and Eric Trump. Source: Cointelegraph<\/a><\/p>\n

Bitcoin mining company Hut 8 ventured into AI services in September 2024, after launching a\u00a0GPU-as-a-Service offering<\/a> through a new subsidiary, Highrise AI.<\/p>\n

June, Hut 8 received <\/a>a $150 million investment from tech-focused investment manager Coatue Management, to help the company \u201ccapitalize\u201d on the growing demand for AI computing power.<\/p>\n

Magazine: Bitcoin mining industry \u2018going to be dead in 2 years\u2019 \u2014 Bit Digital CEO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Nasdaq-listed Bitcoin mining company CleanSpark’s shares soared over 13% on Monday, after the company announced a strategic expansion…\n","protected":false},"author":2,"featured_media":87675,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[345,343,344,85,46,125],"class_list":["post-87674","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-il","tag-israel","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/87674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=87674"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/87674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/87675"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=87674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=87674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=87674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}