CleanSpark is funneling revenue from its Bitcoin mining operations directly into its new artificial intelligence (AI) division.
The company used more than $64 million in capital in recent sales to secure critical power and land for its data centers.
summary
- CleanSpark sold 589 Bitcoins for $64 million in October and used the proceeds to acquire resources for a new AI data center in Texas.
- This miner produced 612 BTC last month, bringing the total production in 2025 to 6,537 BTC.
- The move is in line with broader industry trends, with companies such as IREN, Riot, and Cipher pivoting away from Bitcoin mining and toward AI and high-performance computing infrastructure.
On November 4, Bitcoin (BTC) mining company CleanSpark announced its October operating results, revealing a new blueprint for how its crypto mining arm is directly funding the company’s future.
The company acknowledged selling 589 Bitcoin last month for more than $64 million in proceeds, and is immediately putting the money toward securing 271 acres of land and 285 megawatts of power near Houston, Texas, as a data center dedicated to AI.
“These milestones demonstrate that we’re not just talking about growth, we’re doing it. Bitcoin remains an integral part of our business, but we are equally focused on developing large-scale data centers that will power the next generation of innovation across the digital world,” said Matt Schultz, CEO of CleanSpark.
Industry veteran Jeffrey Thomas is leading CleanSpark’s AI pivot. Significant infrastructure partnership with immersion cooling company Submar, according to a press release.
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CleanSpark moves from Bitcoin blocks to compute power
In October, CleanSpark produced 612 Bitcoins, bringing the total for the calendar year to 6,537 coins. This consistent output is supported by a deployed fleet of over 240,000 miners, achieving a peak operational hash rate of 50 exahashes per second.
Efficiency remains a key advantage for the company, with its top-performing machine running at 16.07 joules per terahash.
Despite selling 589 Bitcoins last month, CleanSpark’s total holdings still amount to 13,033 Bitcoins. The sale was executed at an average price of $110,057 per BTC, subject to non-dilutive capital, which CFO Gary Vecchiarelli emphasized is important to fund new business without compromising shareholder equity.
Notably, CleanSpark is not alone in this effort. IREN, the Australian-born mining company formerly known as Iris Energy, sparked an industry-wide reassessment this year after rebranding as an AI-first infrastructure company. A $9.7 billion deal for data center capacity with Microsoft and a $5.8 billion GPU procurement deal with Dell have solidified the company, and its stock has soared more than 580% since the beginning of the year.
Competitors such as Riot Platforms, Cipher Mining, and TeraWulf are also moving into high-performance computing, pushing Bitcoin miners into a new role of powering the U.S. AI ecosystem.
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