CleanSpark Shares Rise 13% After Bitcoin Miner’s AI Expansion

CleanSpark, a Nasdaq-listed Bitcoin mining company, saw its shares surge more than 13% following its announcement of a strategic pivot into artificial intelligence (AI) data center infrastructure. This move aims to diversify revenue streams and enhance long-term cash flow, particularly in response to challenges faced post-Bitcoin halving. Jeffrey Thomas has been appointed as the senior vice president of AI data centers to spearhead this initiative. CleanSpark identified Georgia as a critical region for potential expansion, having secured additional power and real estate in College Park to deliver high-value computing to the Atlanta metro area. This shift mirrors actions taken by other major Bitcoin miners, including Core Scientific, which engaged in similar AI-focused strategies in recent years. These expansions are seen as vital for sustainability in a challenging market environment, where generating new revenue sources is increasingly important for mining firms.

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