Bitcoin mining company CleanSpark expanded its power capacity by 28% in October as part of its broader transition from cryptocurrency mining to artificial intelligence and high-performance computing (HPC).
The U.S.-based company announced that it has acquired 271 acres of land near Houston, Texas, securing a long-term power supply of 285 megawatts for a dedicated AI data center. This move marks one of CleanSpark's largest steps toward business diversification, as demand for energy-intensive computing continues to surge.
CleanSpark's AI transformation has also led to a new partnership with Submer, a company that provides cooling solutions for data centers.
"While BTC remains an indispensable part of our business, we are equally focused on developing large-scale data centers to power the next generation of innovation in the digital world," said Matt Schultz, CEO and Chairman of CleanSpark.
In October, CleanSpark mined 612 BTC and sold 589.9 BTC for approximately $64.9 million, averaging $110,057 per coin. The company held 13,033 BTC at the end of the month, steadily accumulating despite regular sales to fund operations.
CleanSpark is one of the growing number of BTC mining companies shifting towards AI and data infrastructure, leveraging its access to low-cost power and existing facilities to host GPU workloads and generate more stable, diversified revenue beyond BTC.
HIVE Digital is one of the earliest miners to diversify, entering the AI and high-performance computing space in mid-2023 and now deriving an increasing share of revenue from these operations.
In August, BTC mining company MARA Holdings agreed to acquire a 64% stake in Exaion, a subsidiary of French energy giant EDF, for $168 million, aiming to expand into the low-carbon AI infrastructure sector.
That same month, TeraWulf signed a 10-year, $3.7 billion hosting agreement with Google-backed Fluidstack. This partnership will add over 200 megawatts of new IT capacity to TeraWulf's data center in New York.
On Monday, IREN signed a $9.7 billion GPU cloud services contract with Microsoft. Under this five-year agreement, Microsoft will gain access to NVIDIA GB300 GPUs in IREN's data center.
Related: MARA and Hut 8 report third-quarter results: profits soar, Bitcoin (BTC) reserves grow
Original article: “CleanSpark Expands Power Capacity and Secures New AI Campus Land in Texas”
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