CleanSpark stock surged Wednesday after the bitcoin miner revealed plans to build a major data-center complex in Texas dedicated to artificial-intelligence and high-performance-computing workloads.
At a Glance
- CleanSpark will develop a Texas data center for AI and HPC workloads
- Bitcoin traded near $97,500 Wednesday afternoon, extending Tuesday’s jump
- Senators are set to debate the Clarity Act for digital-asset markets on Thursday
- Why it matters: The moves signal growing convergence between crypto mining and next-gen computing demand
Shares of CleanSpark rallied on the announcement, which positions the company to tap rising demand for power-intensive AI infrastructure. The project marks a strategic pivot beyond pure-play bitcoin mining as firms race to secure capacity for large-language-model training and inference.
Bitcoin’s price climb above $97,500 added momentum to miner stocks. The largest cryptocurrency by market value continued the sharp advance that began Tuesday, when it broke through prior resistance levels.
On Capitol Hill, the Senate Banking Committee scheduled a Thursday session to markup the Clarity Act, sweeping legislation that would create a federal framework for digital-asset oversight. The bill’s path through the chamber is being closely watched by crypto executives who say regulatory certainty is critical for future investment.
CleanSpark executives have not disclosed the exact location or size of the planned Texas facility, but the state has emerged as a preferred destination for data-center development thanks to its deregulated power market and abundant renewable energy. The company already operates several bitcoin-mining sites across West Texas, giving it existing land and power connections that could be expanded for AI workloads.
The announcement reflects a broader trend among miners who are seeking to diversify revenue as the April bitcoin-halving event cut block rewards in half. By repurposing infrastructure for AI and HPC, miners can earn higher margins than traditional crypto mining while utilizing the same energy contracts and cooling systems.
Senate lawmakers will debate provisions in the Clarity Act that define which tokens qualify as commodities versus securities, a distinction that determines whether the Commodity Futures Trading Commission or the Securities and Exchange Commission will serve as primary regulator. Industry lobbyists say the bill’s fate could influence whether blockchain startups choose to domicile in the U.S. or offshore.
CleanSpark shares closed sharply higher, extending year-to-date gains that have outperformed both bitcoin and the broader equity market. Traders cited the AI pivot as a catalyst that could re-rate the stock from a commodity play to a next-generation compute provider.
Bitcoin’s move toward $97,500 represented a 4% intraday jump and pushed the digital asset within striking distance of the psychologically key $100,000 level. Options-market data showed heavy call buying at the $100,000 strike, suggesting traders are positioning for further upside.
The Clarity Act markup comes as the House of Representatives already passed companion legislation with bipartisan support. Senate passage would send the bill to the president’s desk and mark the first comprehensive federal crypto law since the industry’s inception.
CleanSpark has not specified when construction on the Texas AI center will begin, nor has it released projected capital expenditures. The company ended the most recent quarter with $160 million in cash and equivalents, giving it flexibility to fund the build-out without immediate equity dilution.
Energy analysts note that AI workloads can generate three to five times the revenue per megawatt compared with bitcoin mining, assuming consistent utilization. The differential stems from the premium corporate customers pay for low-latency, high-reliability compute relative to the commoditized economics of crypto-hash processing.
Senate staffers told News Of Los Angeles that amendments to the Clarity Act could surface during Thursday’s session, including provisions that tighten disclosure requirements for token issuers and expand anti-fraud provisions. Lobbyists expect a final committee vote by late afternoon.
CleanSpark’s existing Texas footprint includes facilities in Panhandle, West Texas and East Texas regions, with aggregate power capacity exceeding 500 megawatts. The company has historically sourced low-cost wind and solar power through long-term purchase agreements, a strategy it intends to replicate for the AI center.
Bitcoin’s Tuesday-through-Wednesday rally added more than $100 billion to the token’s market capitalization, lifting the total value of all cryptocurrencies above $3.2 trillion. Exchange data showed spot-buying from large institutional accounts, suggesting sustained demand rather than short-covering alone.
The Clarity Act’s definitions could affect how tokens issued by CleanSpark and other miners are regulated. While the company does not currently market a proprietary token, future carbon-credit or hashrate-token products might fall under the bill’s scope if they trade on U.S. venues.
CleanSpark executives plan to host an investor call following Thursday’s Senate session to update shareholders on both the Texas AI project and any regulatory developments. Management previously guided for hashrate growth of 15% by year-end, a target that could be revised if data-center conversion accelerates.
Market strategists point to miner diversification into AI as a hedge against bitcoin’s quadrennial halving cycles. By locking in multi-year hosting contracts with cloud providers, firms like CleanSpark can smooth cash-flow volatility tied to crypto-price swings.
Bitcoin’s climb toward $97,500 triggered more than $200 million in short liquidations across derivatives exchanges, the largest such squeeze in a month. Analysts said the move created a technical breakout that could propel prices toward $100,000 if momentum continues.
Senate Banking Committee Chairman Sherrod Brown has not publicly endorsed the Clarity Act, creating uncertainty over whether the bill will advance to the full chamber. Committee rules require at least one minority-party vote to move legislation, giving Republicans leverage to shape final language.
CleanSpark’s pivot places it in competition with established data-center REITs such as Digital Realty and CoreSite, firms that already cater to hyperscale AI customers. Miners argue their expertise in power procurement and low-cost operations gives them an edge in the race for capacity.
The company’s stock reaction Wednesday added roughly $400 million to its market capitalization, bringing equity value above $3 billion. Options volume spiked to three times the 20-day average, with call options expiring Friday showing particular strength.
Bitcoin’s recent gains have lifted the Crypto Miners Index more than 25% over the past month, outperforming both the S&P 500 and the Nasdaq Composite. Traders attribute the outperformance to rising token prices and growing investor interest in AI-linked revenue streams.
Clarity Act proponents argue that clear federal rules will unlock billions in bank lending to crypto firms, which currently face regulatory uncertainty. Opponents counter that the bill’s definitions are too narrow and could stifle innovation by forcing projects to register as securities.
CleanSpark has not announced whether the Texas AI center will be developed via joint venture or solely on its balance sheet. Previous data-center projects in the state have utilized tax incentives from local development corporations, reducing effective power costs by up to 20%.
Bitcoin’s approach to $100,000 has reignited retail interest, with Google Trends data showing searches for “buy bitcoin” at the highest level since March. Exchange inflows of bitcoin have turned negative, indicating holders are moving coins off platforms, a behavior historically associated with bullish sentiment.
The Senate markup session is scheduled to begin at 10:00 a.m. Eastern on Thursday and will be live-streamed on the committee website. Staff expect a final vote by early afternoon, setting up potential floor consideration later this month.
CleanSpark shares ended Wednesday at $14.72, up 12% on the day and 180% year-to-date. The stock’s relative strength line hit a new high, indicating continued outperformance versus the broader market.
Key Takeaways
- CleanSpark’s Texas AI data-center plan lifted shares as investors price in higher-margin revenue
- Bitcoin’s surge toward $97,500 added tailwinds across the mining sector
- Thursday’s Senate Clarity Act debate could set the first federal crypto rules
