CleanSpark has secured rights to 271 acres in Austin County, Texas, and long‑term power agreements totaling 285 MW, a 28% increase in contracted power.
The site sits on a major fiber backbone between Houston and Austin, positioning the company to build a next‑generation AI data‑center campus that will serve AI, cloud, and enterprise workloads.
CleanSpark plans to energize more than 200 MW of capacity by the first half of 2027, with substation construction already underway and long‑lead items secured.
The acquisition marks a strategic pivot beyond Bitcoin mining. CleanSpark’s Q3 2025 results showed revenue of $198.6 million and net income of $257.4 million, a 91% YoY increase, while FY2024 revenue was $378.97 million with an adjusted loss of $0.69 per share. The AI data‑center venture will diversify revenue streams and mitigate volatility in the cryptocurrency market.
Management has appointed Jeffrey Thomas as Senior Vice President of AI Data Centers, underscoring the company’s commitment to the new business. CleanSpark’s existing Bitcoin holdings are being used as collateral for credit lines to fund the expansion, and the company’s “infrastructure‑first” model—built on rapid deployment of mining sites—provides a competitive advantage over traditional AI data‑center timelines.
The Texas data‑center market is experiencing significant construction activity, but the expansion also raises concerns about strain on the state grid and water resources. CleanSpark’s proximity to natural gas pipelines offers potential for behind‑the‑meter generation, enhancing energy efficiency and cost effectiveness.
The company faces headwinds from increasing competition in the AI data‑center space, potential regulatory changes, and the ongoing volatility of the cryptocurrency market, which could impact its Bitcoin mining segment.
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