Bitcoin Mining Expands into Artificial Intelligence
Nasdaq-listed Bitcoin mining company CleanSpark saw its shares jump more than 13% on Monday after announcing a strategic expansion into the artificial intelligence (AI) sector. The move aims to diversify the company’s revenue streams and enhance long-term financial stability by building AI data center infrastructure.
To lead this initiative, CleanSpark appointed Jeffrey Thomas as senior vice president of AI data centers. Thomas, who previously headed Saudi Arabia’s multibillion-dollar AI data center program at Humain, has reportedly generated over $12 billion in shareholder value across 19 ventures throughout his career.
CleanSpark’s chief development officer Scott Garrison confirmed that the company is reviewing its portfolio to identify areas suitable for AI-related development. “We have been reviewing the entire portfolio from first principles to evaluate AI suitability and have identified Georgia as a strategic region for both potential conversion as well as expansion,” Garrison said. He added that the company has secured additional power and real estate in College Park, Atlanta, and is exploring new large-scale “giga-campus” opportunities to meet growing AI infrastructure demand.
CleanSpark’s stock has now gained over 140% year-to-date in 2025, according to Google Finance data.
Bitcoin miners turn to AI for growth
CleanSpark’s pivot reflects a growing trend among major Bitcoin miners seeking new revenue sources amid post-halving pressure and tighter margins. Several industry leaders, including Core Scientific, Hut 8, and Iris Energy, have also moved into AI and high-performance computing (HPC) services since early 2024.
In June 2024, Core Scientific signed a $3.5 billion deal with AI cloud provider CoreWeave to supply 200 megawatts of data center capacity, projected to generate over $3.5 billion in cumulative revenue over 12 years. The AI expansion effectively revived the company’s operations after its 2022 bankruptcy, leading to its relisting on Nasdaq in 2024.
Broader industry shifts
Similarly, Hut 8 entered the AI market in September 2024 by launching its GPU-as-a-Service platform through its subsidiary Highrise AI. The firm later received a $150 million investment from Coatue Management, enabling it to capitalize on the rising global demand for AI computing power.
The wave of strategic pivots among miners highlights a major transformation across the digital infrastructure sector — one where Bitcoin mining companies increasingly position themselves as AI-ready data providers, combining blockchain expertise with high-performance computing capabilities to sustain growth beyond cryptocurrency market cycles.
Sources:
https://cointelegraph.com/news/cleanspark-soar-13-bitcoin-miner-ai-expansion