CleanSpark, the Las Vegas bitcoin miner, is now constructing AI information facilities alongside its mining operations.
The corporate is shifting into synthetic intelligence infrastructure whereas nonetheless working its bitcoin enterprise.
The CEO defined the plan on CNBC’s “Crypto World” and stated this mannequin will doubtless develop into frequent amongst miners. CleanSpark lately received a 100‑megawatt web site in Cheyenne, Wyoming, beating Microsoft for the contract.
The CEO stated the deciding issue was pace. CleanSpark constructed a 100‑megawatt mining web site in about six months, whereas constructing a full AI information heart can take between three and 6 years.
“We have been capable of scale up and deploy 100 megawatt bitcoin mining facility in about six months,” CEO Matt Schultz stated. “Actually, Cheyenne didn’t choose CleanSpark as a result of we had a stronger steadiness sheet than Microsoft.”
The corporate as soon as operated as an vitality agency earlier than shifting to bitcoin mining 5 years in the past. Schultz stated this pivot brings the corporate again to its roots as a result of the competitors now revolves round entry to energy.
CleanSpark at the moment operates 1.03 gigawatts of lively services and has 1.7 gigawatts deliberate. Schultz described the mannequin as “monetizing megawatts,” utilizing bitcoin mining to scale energy infrastructure quick, after which changing chosen places into excessive‑efficiency computing for AI the place it is smart.
He stated bitcoin miners can construct and energize information facilities shortly, however energy entry is the principle barrier for everybody within the area.
CleanSpark expands into AI campuses
CleanSpark introduced a partnership with Submer, an information heart engineering firm, to develop AI‑targeted campuses throughout North America. The plan combines CleanSpark’s vitality and land belongings with Submer’s liquid‑cooled, excessive‑density programs.
Schultz stated, “We’re positioned to ship AI capability at gigawatt scale, sooner, cleaner, and extra effectively than conventional approaches.” He stated the purpose is to show CleanSpark’s infrastructure platform into the spine of the following part of computing.
One area Schultz pointed to as a rising AI cluster is Atlanta, which he described as second solely to Northern Virginia on the East Coast for information heart growth.
Working AI fashions consumes giant quantities of energy. Firms like Amazon, Google, and Microsoft are spending closely on new information facilities and signing offers with utilities to construct new nuclear reactors or restart previous ones.
Even with that spending, most of the new tasks face lengthy delays connecting to the grid. Schultz stated, “Hyperscalers are spending 60% of their free money stream on capex to attempt to sustain with AI.”
He added that miners already management what’s hardest to safe: land, substations, and direct entry to electrical energy.
Crypto margins tighten as twin‑observe mannequin grows
Shares of CleanSpark are up greater than 100% this yr. The shift to AI helps offset tighter bitcoin mining earnings after the April halving minimize block rewards by half.
CleanSpark reported $198.6 million in income within the third quarter of fiscal 2025, up almost 91% yr over yr, and holds 12,703 bitcoin in its treasury.
Schultz stated the AI transfer doesn’t change crypto earnings. “It’s [bitcoin mining] a terrific a part of our enterprise,” he stated.
CleanSpark’s energy mannequin permits it to close down mining operations throughout grid stress and push energy again to utilities, one thing AI facilities can not simply do.
Schultz stated mixing mining with AI provides utilities flexibility. Throughout hurricane Helene in Georgia, CleanSpark powered down and redirected vitality. “The lights got here again on on the hospital inside an hour,” he stated.
