CleanSpark Raises $1.15 Billion to Expand Bitcoin Mining and AI Infrastructure
U.S.-based Bitcoin mining company CleanSpark has announced plans to raise $1.15 billion through a senior offering of convertible notes, aiming to expand its crypto-mining operations and accelerate the build-out of artificial-intelligence infrastructure.
A Major Capital Expansion
The Nasdaq-listed firm expects to receive approximately $1.13 billion in net proceeds, or up to $1.28 billion if initial purchasers exercise their full over-allotment option. The offering is scheduled to close on November 13, pending customary conditions. Funds will be used to enhance Bitcoin mining capacity and repurpose select facilities for high-performance AI compute workloads.Georgia as a Strategic Hub
CleanSpark’s Executive Vice President and Chief Development Officer, Scott Garrison, highlighted Georgia as the company’s key strategic region for expansion: “We’re re-evaluating the entire portfolio from first principles for AI suitability and have identified Georgia as a prime location for both conversion and growth.”The company has been gradually diversifying its energy-efficient mining infrastructure into AI-ready data centers, anticipating rising demand for GPU-based computing. Analysts note that this hybrid model positions CleanSpark among the few mining firms bridging cryptocurrency operations with artificial-intelligence workloads.
Bridging Bitcoin and Artificial Intelligence
CleanSpark’s shift toward dual-use infrastructure reflects a broader industry trend in which miners leverage their energy contracts and cooling systems to support AI data centers. By optimizing existing facilities, the company aims to secure stable revenue streams beyond Bitcoin block rewards while reducing exposure to crypto-market volatility.Industry observers say the $1.15 billion raise underscores investor confidence in CleanSpark’s ability to adapt its mining assets for next-generation compute needs — a model likely to inspire similar moves across the crypto-mining sector.
Editorial Team — CoinBotLab