AI compute is stepping into crypto land as miners pivot from pure hashing toward data centers and AI workloads. The signal is loudest from Riot Platforms, with AI/HPC readiness shaping a new earnings narrative that could turn into AI-hosting deals [1].
Riot Platforms’ AI/HPC Readiness Riot Platforms has completed the “basis of design” for its Corsicana data center campus and begun 112 MW of core-and-shell construction—the first phase toward 600 MW of AI-ready capacity. That infrastructure sets the stage for hyperscale hosting deals, with LOIs potentially landing late 2025 or early 2026. CEO Jason Les keeps the focus on hyperscalers and large AI/cloud partners, signaling a shift from mining to AI-hosting ambition [1].
CleanSpark’s Texas AI Data Centers CleanSpark is moving into Texas AI data centers with a 285 MW project on 271 acres, a milestone that public chatter sees as a pivot beyond mining [4]. The company has also hired AI veteran Jeffrey Thomas to lead data-center expansion, a move viewed as key to diversification [2]. Market observers frame this as broader evidence of a shift from miner to full AI compute play [5].
Canaan’s Japan Grid Stabilization Canaan has signed a 4.5 MW contract to provide water-cooled Bitcoin mining hardware—the Avalon A1566HA-488T—to a major Japanese utility to stabilize grid frequency and optimize energy use, marking a move toward AI-driven energy infrastructure [6]. Rollout is expected by late 2025 as Japan experiments with digital load balancing tied to AI/data-center needs [6].
Closing thought: across Riot, CleanSpark, and Canaan, the era of pure hashing is giving way to AI compute and energy-services contracts.
References
Riot Platforms ($RIOT) crushed earnings — but the real story is AI/HPC readiness. See below
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