CleanSpark expands power capacity, secures Texas site for AI push

Bitcoin miner CleanSpark just flexed hard with a 28% power capacity expansion in October — and they're not stopping at crypto. They're going full send into AI and high-performance computing (HPC), grabbing 271 acres near Houston, Texas, with 285 megawatts of long-term power for a dedicated AI data center. This is their biggest diversification move yet as demand for energy-guzzling compute goes absolutely parabolic.

They also locked in a new partnership with Submer — the cooling solutions chads for data centers — because when you're running GPUs hot enough to melt steel, you need that thermal management on point.

October mining stats don't lie: CleanSpark mined 612 Bitcoin (BTC $101,317) and sold 589.9 BTC for about $64.9 million, averaging $110,057 per coin. They're still stacking hard though — ended the month holding 13,033 BTC while funding operations through regular sales.

CleanSpark is riding the wave of Bitcoin miners pivoting to AI and data infrastructure — leveraging their cheap power and existing facilities to host GPU workloads and capture that sweet, diversified revenue beyond Bitcoin's volatility.

HIVE Digital was one of the OGs in this space, starting their AI/HPC pivot back in mid-2023 and now seeing growing revenue from those operations.

In August, Bitcoin miner MARA Holdings went big with a $168 million deal to acquire 64% of Exaion — a subsidiary of French energy giant Électricité de France (EDF) — to expand into low-carbon AI infrastructure.

Also in August, TeraWulf signed a massive 10-year, $3.7 billion hosting deal with Fluidstack (backed by Google), adding over 200 megawatts of new IT capacity to their New York data centers.

And just this Monday, IREN dropped the mic with a GPU cloud services contract with Microsoft valued at $9.7 billion. The five-year deal gives Microsoft access to Nvidia GB300 GPUs in IREN's data centers — absolute firepower for AI workloads.