CleanSpark pivots from bitcoin mining to AI infrastructure
4 min read
CleanSpark officially announced its strategic evolution from pure bitcoin mining into artificial intelligence and high-performance computing infrastructure on Monday, hiring industry veteran Jeffrey Thomas to spearhead the expansion. The announcement sent shares surging as much as 13% in early trading, with the stock closing up approximately 10% as investors embraced the company's diversification strategy.
Summaries 3 Keypoints
- CleanSpark is pivoting from a pure-play Bitcoin miner into building and operating AI/HPC data center infrastructure, appointing industry veteran Jeffrey Thomas as Senior Vice President of AI Data Centers to lead the effort.
- The move follows a broader trend among miners diversifying into AI compute, with CleanSpark targeting Georgia (including new power and real estate in College Park) and evaluating “giga-campus” opportunities to meet AI demand while leveraging its land and power footprint.
- Investors reacted positively, with shares jumping on the announcement, as the company positions the shift to strengthen long-term cash flow and capitalize on higher-return AI workloads versus traditional mining economics.
Strategic Pivot Follows Industry Trend
Thomas, who brings over four decades of global experience in emerging technologies and data center development, joins as Senior Vice President of AI Data Centers from his previous role as President of AI Data Centres at Humain, where he led Saudi Arabia's multi-billion-dollar AI data center program. "Jeffrey's decades of experience building and scaling digital infrastructure platforms make him an exceptional addition to our leadership team," said CleanSpark CEO Matt Schultz.[1][2][3]
The Las Vegas-based company joins a growing list of bitcoin miners pivoting to AI infrastructure, including Core Scientific, Hut 8, and TeraWulf, as the economics strongly favor the transition. AI data centers can generate revenue of $3 to $5 per kilowatt-hour compared to bitcoin mining's $0.17 to $0.20 per kWh, representing a 17-25 fold increase in potential returns.[4][5][6][7]
CleanSpark has identified Georgia as a strategic region for its AI expansion, recently contracting for additional power and real estate in College Park to serve the greater Atlanta metropolitan area. The company is evaluating "giga-campus" opportunities across its portfolio to meet growing demand from AI clients while leveraging its existing infrastructure-first model built around large-scale energy management.[3][8][1]
The announcement comes as Bitcoin traded around $111,000, rebounding from recent lows. CleanSpark's stock has gained an impressive 112% year-to-date and hit a 52-week high of $23.61 on October 15, reflecting investor confidence in the company's strategic diversification beyond cryptocurrency mining volatility.[9][10][11][12]
Reference sources:
[1](https://www.prnewswire.com/news-releases/cleanspark-announces-business-evolution-from-pure-play-bitcoin-miner-to-include-ai-compute-hires-industry-veteran-jeffrey-thomas-as-svp-of-ai-data-centers-302588444.html)[2](https://investors.cleanspark.com/news/news-details/2025/CleanSpark-Announces-Business-Evolution-from-Pure-Play-Bitcoin-Miner-to-Include-AI-Compute-Hires-Industry-Veteran-Jeffrey-Thomas-as-SVP-of-AI-Data-Centers/default.aspx)[3](https://www.investing.com/news/company-news/cleanspark-appoints-jeffrey-thomas-as-svp-to-lead-ai-data-center-expansion-93CH-4297153)[4](https://cointelegraph.com/news/bitcoin-miners-gamble-ai-paid-off)[5](https://www.coindesk.com/markets/2025/09/14/ai-mining-news-gpu-gold-rush-why-bitcoin-miners-are-powering-ai-s-expansion)[6](https://cointelegraph.com/magazine/ai-more-power-hungry-bitcoin-profits-pose-risks-bitcoin-miners/)[7](https://forklog.com/en/ai-energy-consumption-surpasses-bitcoin-mining/)[8](https://blockworks.co/news/cleanspark-ai-data-centers)[9](https://u.today/bitcoin-btc-price-analysis-for-october-20)[10](https://bitcoinmagazine.com/markets/bitcoin-price-rebounds-to-111000-as-strategy-adds-168-more-btc)[11](https://markets.financialcontent.com/stocks/article/marketminute-2025-10-20-cleanspark-soars-on-ai-expansion-bitcoin-eyes-rebound)[12](http://markets.chroniclejournal.com/chroniclejournal/article/marketminute-2025-10-20-cleanspark-soars-on-ai-expansion-bitcoin-eyes-rebound)