Bitcoin miner CleanSpark expanded its energy capability by 28% in October as a part of a broader push past crypto mining into synthetic intelligence and high-performance computing (HPC).
The US-based firm stated it had acquired 271 acres close to Houston, Texas, securing 285 megawatts of long-term energy for a devoted AI knowledge heart. The transfer marks one in every of CleanSpark’s largest steps but to diversify its operations as demand for energy-intensive computing continues to surge.
CleanSpark’s AI transfer additionally led to a brand new partnership with Submer, an organization that provides cooling options for knowledge facilities.
“Whereas Bitcoin stays an integral a part of our enterprise, we’re equally centered on creating large-scale knowledge facilities that may energy the subsequent technology of innovation throughout the digital world,” stated Matt Schultz, CleanSpark’s CEO and chairman.
CleanSpark mined 612 Bitcoin (BTC) in October and offered 589.9 BTC for about $64.9 million, averaging $110,057 per coin. The corporate ended the month holding 13,033 BTC, underscoring its regular accumulation regardless of common gross sales to fund operations.
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Bitcoin miners pivot to AI
CleanSpark is a part of a rising wave of Bitcoin miners pivoting towards AI and knowledge infrastructure, utilizing their entry to low-cost energy and current amenities to host GPU workloads and seize extra steady, diversified income past Bitcoin.
HIVE Digital was among the many early miners to diversify, beginning its transfer into AI and high-performance computing in mid-2023 and now incomes a rising share of income from these operations.
In August, Bitcoin miner MARA Holdings agreed to accumulate a 64% stake in Exaion, a subsidiary of French power big Électricité de France (EDF), in a $168 million deal geared toward increasing into low-carbon AI infrastructure.
The identical month, TeraWulf signed a 10-year, $3.7 billion internet hosting cope with Fluidstack, backed by Google. The partnership will add over 200 megawatts of recent IT capability to TeraWulf’s New York knowledge facilities.
On Monday, IREN signed a GPU cloud providers contract with Microsoft valued at $9.7 billion. Beneath the five-year deal, Microsoft will achieve entry to Nvidia GB300 GPUs housed in IREN’s knowledge facilities.
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