Bitcoin Miner CleanSpark Stuns Microsoft in Wyoming Data Center Contract Showdown

CleanSpark just pulled off what many thought impossible—beating tech titan Microsoft for a coveted Wyoming data center contract. The Bitcoin mining company's victory signals a seismic shift in how energy infrastructure is valued in the digital age.

David vs. Goliath in the Energy Arena

Wyoming's energy landscape just got a major shakeup. CleanSpark's winning bid demonstrates that Bitcoin miners bring more than just computational power—they bring flexible energy demand that can stabilize grids and monetize stranded power assets. Microsoft's traditional cloud computing approach couldn't compete with the economic flexibility of Bitcoin mining operations.

The New Energy Paradigm

While Microsoft focuses on predictable, constant energy consumption for cloud services, Bitcoin miners offer grid operators something more valuable: interruptible load. CleanSpark can power down operations during peak demand periods, effectively acting as a virtual power plant when the grid needs it most. This flexibility proved decisive in Wyoming's energy-rich but transmission-constrained environment.

Wall Street analysts are scratching their heads—watching a Bitcoin miner outmaneuver one of the world's most valuable companies on energy economics. Maybe they should spend less time analyzing spreadsheets and more time understanding real-world energy dynamics. The future of data centers isn't just about computing power—it's about energy intelligence, and Bitcoin miners are writing the playbook.

TLDR

• CleanSpark won a 100-megawatt data center contract in Cheyenne, Wyoming, beating Microsoft by deploying infrastructure in six months versus three to six years for traditional AI centers
• The bitcoin mining company operates 1.03 gigawatts of energized facilities with 1.7 gigawatts in development, giving it direct access to land, substations, and electricity
• CleanSpark partnered with Submer to develop AI-focused data center campuses across North America using liquid-cooled infrastructure systems
• The company’s flexible power model allows it to shut down mining during grid stress and redirect electricity, which AI centers cannot easily do
• CleanSpark reported $198.6 million in revenue in Q3 fiscal 2025, up 91% year over year, with shares gaining over 100% this year

CleanSpark secured a 100-megawatt data center site in Cheyenne, Wyoming, winning the contract over Microsoft. The Las Vegas-based Bitcoin mining company completed the deal despite having a market cap under $6 billion compared to Microsoft’s $4 trillion valuation.

FROM bitcoin MINING TO AI DATA CENTERS

Cleanspark $CLSK owns and operates 33 bitcoin mining facilities across the U.S. and is strategically transitioning into AI infrastructure

The company is expanding its footprint to Georgia, where it will look to build data center campuses pic.twitter.com/QCPnsDXFhL

— Small Cap Snipa (@SmallCapSnipa) October 28, 2025

The deciding factor was deployment speed. CleanSpark can build a 100-megawatt bitcoin mining facility in approximately six months. Traditional AI data centers require three to six years to construct.

CEO Matt Schultz addressed the win on CNBC’s crypto World. “Certainly, Cheyenne didn’t select CleanSpark because we had a stronger balance sheet than Microsoft,” he said. The company’s rapid infrastructure scaling capabilities provided the competitive advantage.

CleanSpark began as an energy company before transitioning to bitcoin mining five years ago. The company currently operates 1.03 gigawatts of energized facilities. An additional 1.7 gigawatts sits in the development pipeline.

CleanSpark, Inc., CLSK

The business model uses bitcoin mining to quickly build and scale power infrastructure. CleanSpark then identifies locations where converting facilities to high-performance compute and AI makes business sense. Atlanta represents a prime target as the second-largest AI data center market on the East Coast after Northern Virginia.

Bitcoin Miners Control Critical Infrastructure

Training and operating AI models requires massive power consumption. Companies including Amazon, Google, and Microsoft are spending record amounts on new data centers. These tech giants face years of delays connecting to the power grid despite signing agreements with utility companies for nuclear reactors.

Bitcoin miners already own the hardest assets to obtain: land, substations, and direct electricity access. “Hyperscalers are spending 60% of their free cash FLOW on capex to try and keep up with AI,” Schultz said.

CleanSpark announced a partnership with Submer on Tuesday. The data center design and construction firm will work with CleanSpark to develop AI-focused campuses across North America. The collaboration combines CleanSpark’s energy and land portfolio with Submer’s liquid-cooled infrastructure systems.

CleanSpark’s shares have gained more than 100% this year. The MOVE into AI helps offset shrinking crypto margins after April’s bitcoin halving cut block rewards in half.

The company generated approximately $198.6 million in revenue during the third quarter of fiscal 2025. This represented an increase of almost 91% year over year. CleanSpark holds 12,703 bitcoin in its corporate treasury.

Flexible Power Operations Provide Grid Benefits

CleanSpark’s mining operations can shut down during grid stress and push electricity back into the system. AI data centers cannot easily do this because many agreements require uptime of 99.99999%.

“Blending a bitcoin mining facility with an AI data center gives you the ‘interrupt’ ability, the flexibility of those loads that the utility so desperately needs,” Schultz explained. When utilities signal increased grid demand, CleanSpark can curtail loads and redirect power rapidly.

This flexibility proved valuable in Georgia when Hurricane Helene damaged a local substation. CleanSpark powered down its rigs and redirected energy to the grid. The hospital’s lights came back on within an hour while crews restored community infrastructure.

Total annual electricity consumption in the United States reached a record high in 2024 according to government data. Data centers are expected to add more pressure to usage trends as the AI market continues growing.

CleanSpark and Submer are working under a non-binding framework to finalize definitive agreements in the coming weeks for AI data center development in North America.