CleanSpark joins bitcoin-to-AI pivot with hire of Humain exec to lead data-center expansion
Quick Take CleanSpark joins other bitcoin miners exploring AI data-center conversions as traditional compute assets command steep valuation premiums. The company is reviewing its Georgia power sites for large-scale expansion as shares trade near four-year highs.
Nasdaq-listed CleanSpark (ticker CLSK) announced Monday that it will expand beyond bitcoin mining into AI data-center infrastructure, naming industry veteran Jeffrey Thomas as senior vice president of AI Data Centers.
Thomas previously oversaw Humain's AI data-center program in Saudi Arabia, one of the region's largest infrastructure initiatives. At CleanSpark, he’ll lead the company’s effort to develop large-scale compute facilities serving enterprise and cloud clients.
The move marks CleanSpark’s evolution from a pure-play bitcoin miner to a broader digital-infrastructure platform. CEO Matt Schultz said Thomas’s appointment "positions CleanSpark at the center of the AI and intelligent-computing revolution" as the firm reviews its U.S. portfolio for conversion and expansion opportunities, including new power and real-estate contracts near Atlanta.
CleanSpark joins other mining firms — including Bitfarms , Canaan , and Galaxy Digital — that are retooling bitcoin operations for high-performance computing amid surging demand for AI capacity.
That trend has accelerated since BlackRock and Nvidia’s $40 billion acquisition of Aligned Data Centers, which valued data-center power capacity at roughly $8 million per megawatt, about 160% higher than the ~$3 million per MW typical for listed miners. VanEck’s Matthew Sigel said the gap suggests miners able to secure similar project financing could see substantial upside.
CleanSpark’s vertically integrated model, with self-developed sites, grid interconnections, and land ownership, could give it an edge in that shift. The company said it is evaluating “giga-campus” projects across its portfolio to meet growing AI demand.
Shares of CLSK rose more than 11% on Monday, trading around $21.86 at publication time according to The Block price data. The stock is now testing its highest range in nearly four years, approaching levels last seen during the 2021 bitcoin bull market.
CleanSpark (CLSK) share price. Source: The Block price page
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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