Bitcoin Miner CleanSpark Expands into AI Data Centers, Stock Surges 14%

CleanSpark, a Las Vegas-based Bitcoin mining firm, is expanding into the development and operation of AI data centers and infrastructure. The firm is capitalizing on its experience in rapid buildout operations and has hired Jeffrey Thomas as Senior Vice President of AI Data Centers. CleanSpark's expansion comes amid a moment of turbulence for the cryptocurrency and digital assets markets, but the top five Bitcoin mining firms by cap are showing signs of strong recovery, with CleanSpark up nearly 14% for the past 24 hours. The market size for AI data centers is expected to reach $2 trillion in 2026, driven by AI data center and infrastructure investment.

Las Vegas-based CleanSpark (NASDAQ: CLSK) has announced a significant expansion into the development and operation of AI data centers and infrastructure. This strategic move comes as the company capitalizes on its experience in rapid buildout operations and has hired Jeffrey Thomas as Senior Vice President of AI Data Centers. CleanSpark's expansion is occurring amidst a moment of turbulence for the cryptocurrency and digital assets markets, but the top five Bitcoin mining firms by capitalization are showing signs of strong recovery, with CleanSpark up nearly 14% for the past 24 hours.

CleanSpark's announcement of its AI data center initiative has been well-received by investors. The company's stock surged by double digits, with shares jumping by up to 13% intraday on October 20, 2025 . This growth is driven by the appointment of Jeffrey Thomas, an industry veteran with over 40 years of experience in building and scaling digital infrastructure platforms. Thomas previously oversaw a multi-billion-dollar AI data center project in Saudi Arabia's tech sector .

The AI data center expansion leverages CleanSpark's extensive energy infrastructure and data center expertise to serve the booming AI industry. This move aims to create new revenue streams insulated from Bitcoin's volatility . By diversifying its revenue base, CleanSpark seeks to strengthen long-term cash flows and position itself as a leading provider of digital infrastructure for both blockchain and AI markets .

CleanSpark's stock has more than doubled in 2025, far outpacing the broader market. The company's market capitalization has surged to over $5.5 billion, reflecting strong investor confidence in its growth prospects . This growth is fueled by the remarkable rally in Bitcoin prices throughout 2025, which has greatly benefited miners like CleanSpark. Higher Bitcoin prices directly increase the profitability of mining and swell the worth of any BTC the company holds on its balance sheet .

The market size for AI data centers is expected to reach $2 trillion by 2026, driven by AI data center and infrastructure investment. This presents a significant opportunity for CleanSpark to tap into a rapidly growing market segment . However, executing this strategy will require developing expertise in AI hardware, forging enterprise client relationships, and managing energy costs efficiently .

In conclusion, CleanSpark's expansion into AI data centers is a strategic move that aligns with the company's long-term growth objectives. While the cryptocurrency market remains volatile, CleanSpark's diversification efforts and strong balance sheet position it well to navigate these challenges and capitalize on the growing demand for AI computing power.