TLDR
- CleanSpark appointed Humain’s Jeffrey Thomas as SVP of AI Data Centers.
- The firm plans AI-focused expansion across its Georgia power facilities.
- Shares of CleanSpark rose 11% to $21.86 after the AI pivot announcement.
- The company joins Bitfarms and Galaxy Digital in bitcoin-to-AI transition.
CleanSpark has joined the growing list of bitcoin miners moving into AI infrastructure. The company announced the appointment of former Humain executive Jeffrey Thomas as its new senior vice president of AI Data Centers. The move reflects a strategic shift toward high-performance computing and data-center expansion as AI-driven demand continues to reshape digital infrastructure markets.
CleanSpark Expands Beyond Bitcoin Mining
Nasdaq-listed CleanSpark (ticker CLSK) said on Monday that it will diversify its business to include AI data-center operations. The firm described the move as part of its plan to evolve from a pure bitcoin mining company into a broader digital infrastructure provider.
Jeffrey Thomas, who led Humain’s AI data-center program in Saudi Arabia, will oversee the new division. CleanSpark said Thomas will guide the company’s efforts to develop large-scale compute facilities designed to serve enterprise and cloud clients. CEO Matt Schultz said the hire “positions CleanSpark at the center of the AI and intelligent-computing revolution.”
Reviewing U.S. Power Assets for Expansion
The company is reviewing its Georgia-based power facilities for potential conversion to AI data centers. It said the focus will be on large-scale expansion near Atlanta, including new land and power contracts. The review is part of a broader strategy to capitalize on rising AI compute demand across the U.S.
CleanSpark operates a vertically integrated model, owning both power infrastructure and mining sites. This structure, according to the company, allows for faster project development and more flexibility in transitioning to AI-based workloads. The firm described current evaluations as part of “giga-campus” plans to build scalable data-center clusters within its existing network.
Industry Trend Toward AI Compute Conversion
CleanSpark’s transition follows a broader movement among major bitcoin miners exploring AI infrastructure. Firms such as Bitfarms, Canaan, and Galaxy Digital have begun retooling existing mining facilities to support high-performance computing. This shift comes amid a sharp rise in valuations for AI data centers compared to traditional mining operations.
Recent industry deals have accelerated the trend. BlackRock and Nvidia’s $40 billion purchase of Aligned Data Centers valued power capacity at nearly $8 million per megawatt. That figure is more than double the average valuation for publicly listed bitcoin miners, which typically trade around $3 million per megawatt. Analysts said miners capable of securing similar financing could benefit from this growing valuation gap.
Market Reaction and Future Outlook
Following the announcement, CleanSpark shares rose more than 11% on Monday, reaching $21.86 according to The Block’s price data. The stock is trading near its highest level in almost four years, matching prices last seen during the 2021 bitcoin market cycle.
Market observers noted that CleanSpark’s established infrastructure and energy assets may position it well for the industry’s pivot toward AI. The company’s next phase will focus on securing long-term contracts and partnerships to support enterprise AI workloads while maintaining its bitcoin mining operations.
CleanSpark’s entry into the AI data-center sector places it among the leading firms seeking to merge blockchain and AI infrastructure strategies as computing demand grows.
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