TLDR
- CleanSpark hired Jeffrey Thomas as SVP of AI data centers to lead expansion into artificial intelligence infrastructure
- Georgia identified as primary location with new power contracts secured in College Park for Atlanta area services
- Stock climbed 13% Monday and has gained 140% in 2025 following the AI pivot announcement
- Bitcoin mining firms including Core Scientific, Hut 8, and Bitdeer have launched similar AI service expansions
- Bitdeer building 570-megawatt Ohio campus with power delivery ahead of schedule by late 2026
CleanSpark revealed plans Monday to enter the artificial intelligence data center market. The Bitcoin mining company hired Jeffrey Thomas as senior vice president of AI data centers to oversee the expansion.
Thomas brings experience from leading Saudi Arabia’s AI data center program at Humain. His background includes creating over $12 billion in shareholder value across 19 ventures. CleanSpark is the fifth-largest Bitcoin mining company by market capitalization.
The company selected Georgia for its AI infrastructure buildout. CleanSpark secured power contracts and real estate in College Park to serve Atlanta metro area customers. The firm is evaluating additional campus sites across its existing property portfolio.
Chief development officer Scott Garrison said CleanSpark reviewed all facilities to determine AI suitability. The company plans to deliver high-performance compute services through converted and new facilities in the region.
CleanSpark stock rose 13% Monday following the announcement. Shares have climbed 140% year-to-date in 2025 as investors respond to the strategic shift.
Mining Companies Pivot to AI Infrastructure
Multiple Bitcoin mining operations have expanded into AI services since 2024. Core Scientific signed a $3.5 billion agreement with CoreWeave in June 2024 for 200 megawatts of infrastructure capacity. The 12-year deal generates revenue for the world’s largest Bitcoin mining company by market cap.
Core Scientific filed Chapter 11 bankruptcy in 2022 before relisting on Nasdaq. The company’s AI pivot helped restore its business model and market position.
Hut 8 launched Highrise AI in September 2024 to offer GPU-as-a-Service. Coatue Management invested $150 million in June to fund Hut 8’s AI computing expansion plans.
Data Center Valuations Increase
BlackRock and Nvidia’s $40 billion purchase of Aligned Data Centers reset market valuations. The acquisition priced data center capacity at roughly $8 million per megawatt. This represents a 160% premium over current Bitcoin miner valuations.
Bitdeer Technologies is constructing a 570-megawatt campus in Clarington, Ohio. Utility power will arrive by late 2026, almost one year earlier than planned. The company is also reviewing its 175-megawatt Norway facility for AI conversion.
Benchmark analysts said Bitdeer’s in-house development approach improves profit margins and speeds revenue generation. The firm values Bitdeer at six times projected 2026 revenue. Bitdeer stock rose over 9% Monday to $26.20.
Bitfarms and Iris Energy have also added AI and data center operations to their revenue models. These companies are positioning themselves to capture growing demand for computing capacity.
CleanSpark plans to deliver 200 megawatts of dedicated AI capacity through its Georgia operations. The company expects to begin serving customers in the Atlanta metro area following infrastructure completion.
Thomas will oversee facility conversions and new construction projects. CleanSpark continues evaluating additional properties for potential AI data center development across multiple regions.