CleanSpark’s AI/data-center pivot: why investors view CLSK as more than a Bitcoin miner

CleanSpark (CLSK) is pivoting from Bitcoin mining to a Texas AI/HPC data-center push, securing ~271 acres and 285 MW of power. This strategic pivot is drawing investor attention and could re-rate CLSK beyond its mining roots ^[1].

Texas expansion at a glance:

• 271-acre site in Austin County, Texas, with 285 MW under contract ^[1].

• Located on a major fiber backbone between Houston and Austin; more energy deals and regional projects in progress ^[2].

• >200 MW energization expected in 1H 2027 ^[4].

• Submer Partnership to deploy gigawatt-scale AI campuses across North America ^[4].

Market reaction and targets:

• HCWCO's report lifts CLSK price target to $30 from $25 ^[5].

• Texas site could provide $3.8B of value for CLSK by 2027 ^[5].

• Q3 revenue $198.6M (+91% YoY) and net income $257.4M; 12,700+ BTC on balance; $100M Bitcoin-backed credit facility backs expansion ^[4].

• Jerome Powell acknowledged data-center/AI buildout as a core growth driver and said it's not rate-sensitive ^[4].

Closing thought:

Investors are watching energization timelines and financing moves as this pivot unfolds, with CLSK potentially appealing to a broader AI infrastructure narrative beyond Bitcoin mining ^[1][4][5].

References