By James Van Straten, AI Boost|Edited by Stephen Alpher
Oct 20, 2025, 1:48 p.m.
- CleanSpark is diversifying beyond bitcoin mining into AI and HPC data centers, a shift increasingly rewarded by investors.
- Industry veteran Jeffrey Thomas will spearhead the company’s AI strategy, focusing on large-scale infrastructure development.
As the AI/HPC frenzy continues to sweep through the bitcoin mining industry, markets are rapidly repricing companies that are shifting their focus toward powering the next generation of compute infrastructure.
STORY CONTINUES BELOW
CleanSpark (CLSK) joined the move Monday, announcing an evolution in its business model beyond pure-play bitcoin mining. As part of this strategic pivot, the company has appointed Jeffrey Thomas as Senior Vice President of AI Data Centers.
Thomas brings over four decades of global experience and has been involved in 19 ventures that collectively generated more than $12 billion in shareholder value, according to the press release. Most recently, Thomas led Humain’s multi-billion-dollar AI data center initiative in Saudi Arabia, forging partnerships with hyperscalers and major tech companies.
CleanSpark is already evaluating giga-campus opportunities and has identified Georgia as a key region for expansion and potential site conversions. New power and real estate contracts in College Park will support its ambition to deliver high-value compute infrastructure to meet accelerating demand from AI and HPC customers.
Shares are higher by 5% early Monday alongside a general rise in the stock prices of bitcoin miners.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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By Will Canny, AI Boost|Edited by Stephen Alpher
1 hour ago
The company’s move to bring data center development in-house strengthens its AI and mining strategy, and accelerates monetization, said analyst Mark Palmer
What to know:
- Benchmark raised its price target on Bitdeer Technologies to $38 and reiterated its but rating on the stock, citing its shift to in-house AI data center development.
- The company is accelerating buildouts at its Clarington, Ohio and Tydal, Norway sites to expand into AI/HPC while scaling bitcoin mining.
- The stock remains undervalued, trading at 4.3x FY26 EV/revenue vs. an 8.6x peer average, analyst Mark Palmer said.
