CleanSpark Secures $1B War Chest for AI Domination and Aggressive Share Buybacks

CleanSpark just loaded the cannons—$1 billion worth of dry powder for a double-barreled assault on AI expansion and shareholder value.

The AI arms race gets a Bitcoin miner's twist

While legacy tech giants scramble for Nvidia chips, this Bitcoin miner-turned-AI contender is rewriting the playbook. That $1 billion isn't just funding—it's a calculated bet that data centers mining digital gold can pivot to powering large language models.

Buyback blitzkrieg incoming

The market's about to get a masterclass in capital allocation. With treasury shares now in the crosshairs, CleanSpark's signaling it won't wait for Wall Street to recognize its true valuation.

As the AI hype cycle meets crypto's boom-bust rhythms, one thing's clear: when a company raises nine figures while whispering 'blockchain' and 'AI' in the same earnings call, the only certainty is volatility. Buckle up.

Expanding into AI and Data Centers

The announcement comes a month after CleanSpark entered the AI sector with a new division focused on artificial intelligence (AI), led by industry expert Jeffrey Thomas. The company bought a 271-acre site in Texas to build a large AI data center that can handle 285 megawatts of power. Additionally, CleanSpark teamed up with Submer to try new cooling and building solutions for high-powered computers.

Moreover, the company is using the money it makes from Bitcoin mining to fund these projects. It recently reached a record mining speed of 50 exahashes per second and owns 13,011 BTC, its highest ever. In October, CleanSpark sold 589 BTC to pay for the Texas land and get power agreements for the new data center.

Earlier this year, CleanSpark got a $200 million credit line from Coinbase Prime, backed by its Bitcoin, and later added another $200 million through agreements with Coinbase and Two Prime. In its third quarter, the company saw a revenue growth of 91% to $198.6 million.

Despite this, CleanSpark’s shares have struggled. At the time of writing, the stock is down 5.56% and trades for $14.18 per share. It is roughly 25% below mid-October highs above $22.

Also Read: Canary to Launch First XRP spot ETF