CleanSpark, one of the largest bitcoin miners in the United States, reported significant revenue growth and a sharp turnaround in profitability for fiscal 2025 while accelerating its push into data centers that support artificial intelligence. The company continues building computing capacity tied to energy-focused infrastructure, signaling that bitcoin miners may evolve into long-term suppliers of power and compute resources for emerging AI industries.
CleanSpark Strengthens Position with Bitcoin and AI Integration
The firm posted $766.3 million in revenue, more than doubling results from the prior year, and moved from a net loss to a $364.5 million profit. CEO Matt Schultz said strong operating performance came from surpassing 50 EH/s of mining capacity and financing growth through convertible debt and bitcoin-backed credit rather than frequent equity issuance. This strategy, he said, provides stronger balance-sheet control as the company expands into broader computing markets.
CleanSpark executives highlighted that its data-center expansion aligns naturally with bitcoin mining operations. Infrastructure that secures the Bitcoin network can also support machine-learning workloads, and the company’s power assets contribute to lower operating costs. CFO Gary Vecchiarelli stated that CleanSpark’s treasury strategy and asset base offer an advantage as demand for high-density computing infrastructure grows across the AI sector.
AI Expansion Shows How Bitcoin Miners Evolve
The company deepened its AI shift by hiring Jeffrey Thomas, formerly at Humain, to lead its new data-center division. CleanSpark is reviewing existing Georgia facilities for conversion and evaluating large-scale campus developments suited for AI compute clusters. This aligns with a broader movement in which bitcoin miners seek new revenue streams linked to energy-efficient data processing.
CleanSpark also announced a $1.15 billion zero-coupon convertible notes deal that enabled the repurchase of 30.6 million shares and supported land acquisition, additional power development, and AI-focused infrastructure. Its balance sheet included $1.2 billion in bitcoin holdings and more than $3.2 billion in total assets, maintaining the firm’s status as one of the largest public bitcoin holders.
CleanSpark describes fiscal 2025 as the beginning of broader growth in computing services powered by bitcoin mining infrastructure.
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