CleanSpark
CleanSpark is a US-listed digital infrastructure developer operating large-scale Bitcoin mining and pivoting to AI/HPC data center hosting, leveraging 1.8 GW of contracted power across six states to sell power-dense compute capacity to hyperscalers and enterprise customers.
- Company typePublic
- Founded2014
- HeadquartersHenderson, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What CleanSpark does
CleanSpark, Inc. (Nasdaq: CLSK) is a US-listed digital infrastructure developer headquartered in Henderson, Nevada, that operates a dual business model spanning large-scale Bitcoin mining and AI/high-performance computing (HPC) data center hosting. As of FY2025 (fiscal year ending September 30), the company generated $766.3 million in revenue — more than double the prior year — and $364.5 million in net income, leveraging a fleet of approximately 235,588 Bitcoin miners operating at 50 EH/s with peak efficiency of 16.07 J/Th. The company mined approximately 7,746 BTC in calendar 2025 and maintains a treasury of roughly 13,453 BTC, selling a portion of monthly production to fund expansion.
The company's underlying asset is its energy-native infrastructure portfolio: 1.8 GW of contracted power capacity across six US states (Georgia, Tennessee, Texas, Mississippi, Wyoming, and others), supported by secured grid interconnections on ERCOT and TVA. This portfolio underwrites both the legacy mining business and the forward AI/HPC pivot, in which CleanSpark is pursuing anchor hyperscaler tenants — most notably for a 250 MW Sandersville, Georgia campus and 447-acre Brazoria County, Texas site (300 MW expandable to 600 MW). Operational credibility is supported by demonstrated demand-response capability at 11 Tennessee sites within 10 minutes of TVA requests and a Ferveret partnership testing liquid immersion cooling that claims 35% higher compute output per watt.
CleanSpark monetizes primarily through Bitcoin self-mining (revenue highly correlated with BTC price and network difficulty) and is positioning for managed-services-style data center hosting contracts with hyperscalers on quote-based, multi-year terms. Capital structure has expanded aggressively to support the pivot — including a $1.15 billion zero-coupon convertible notes offering (November 2025), a $200 million revolving credit facility with Coinbase Global, the $155 million GRIID Infrastructure merger (June 2024) adding 400+ MW in Tennessee, and the addition of a former Keefe, Bruyette & Woods senior banker as SVP of Finance to lead capital markets and M&A activity. Long-term debt has nearly tripled to approximately $1.8 billion, reflecting the funding intensity of the multi-gigawatt buildout.
CleanSpark firmographics
Firmographics- Name
- CleanSpark
- Legal name
- CleanSpark, Inc.
- Website
- https://cleanspark.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CleanSpark is a US-listed digital infrastructure developer operating large-scale Bitcoin mining and pivoting to AI/HPC data center hosting, leveraging 1.8 GW of contracted power across six states to sell power-dense compute capacity to hyperscalers and enterprise customers.
- Ownership category
- akta.pro rank
CleanSpark industry classification
Industry- Product category
- Digital Infrastructure / Data Center Development
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Mining Infrastructure & Energy Procurement (Power, Cooling, Grid Services) (FSADAOAG)
Keywords
Where CleanSpark is headquartered
LocationHeadquarters
- HQ city
- Henderson
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
CleanSpark business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Technology or R&D, Marketing or Sales, Personnel, Supply Chain
Revenue model
- Bitcoin Mining: CleanSpark generates revenue through Bitcoin mining operations, producing Bitcoin with deployed mining hardware. The company mined approximately 7,746 BTC in calendar year 2025 (10% YoY increase), with monthly production ranging from 568-671 BTC. Revenue is highly dependent on Bitcoin price and network difficulty.
- Bitcoin Treasury Management: The company maintains a significant Bitcoin treasury (approximately 13,453-13,470 BTC), selling Bitcoin production to fund operations and AI infrastructure expansion. Sold 553 BTC in February 2026 for $36.6 million, and sold 97% of February production to fund AI pivot.
- AI/HPC Data Center Hosting: CleanSpark is pivoting toward AI infrastructure, pursuing contracts to host high-performance computing and AI workloads at its data center facilities. The company is in advanced discussions with an investment-grade hyperscaler for its Sandersville, Georgia 250 MW data center, targeting anchor tenant capacity. Revenue from this stream is not yet contracted as of early 2026.
- Data Center Development Services: The company develops large-scale data center infrastructure for compute, offering power capacity and facility hosting to AI and HPC customers. The company acquired a second Texas campus adding 300 MW of ERCOT-approved capacity, expanding toward a multi-gigawatt platform.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
CleanSpark product offering
Product offeringCore offering
CleanSpark is a large-scale digital infrastructure developer that owns and operates a multi-gigawatt portfolio of data center campuses across the United States. Its core business combines Bitcoin mining operations (deploying approximately 235,588 ASIC miners at 50 EH/s) with the development and hosting of AI and high-performance computing (HPC) data center capacity for enterprise and hyperscaler customers, secured through 1.8 GW of contracted power across six U.S. states.
Product overview
CleanSpark is a large-scale digital infrastructure developer that operates a dual business model combining bitcoin mining operations with AI and high-performance computing (HPC) data center hosting services. The company leverages its energy-native infrastructure expertise to build and operate multi-gigawatt campuses across the United States. Its core offerings include bitcoin mining operations (deploying over 235,000 miners at up to 50 EH/s hashrate), AI/HPC data center hosting for compute-intensive workloads, and energy infrastructure development securing over 1.8 GW of contracted power capacity. Supporting offerings include bitcoin treasury management and grid services through demand response programs.
Differentiator
Problem solved
Functional benefit
Products and services
- Bitcoin Mining Operations Large-scale bitcoin mining operations deploying over 235,000 ASIC miners with peak operational hashrate of 50 EH/s across U.S. campuses, producing bitcoin using renewable energy sources.
- AI and HPC Data Center Hosting Multi-gigawatt data center campuses developed for artificial intelligence and high-performance computing workloads, providing power-dense compute capacity to hyperscaler and AI customers through long-term hosting arrangements.
- Energy Infrastructure Development Procurement and development of scalable power infrastructure, securing energy supply agreements across multiple U.S. states and operating a portfolio of campuses totaling over 1.8 GW of contracted power capacity.
Quantifiable outcome
- Achieved 50 EH/s operational hashrate with 235,588 miners deployed
- +3 more outcomes
Companies that use CleanSpark
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
CleanSpark technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CleanSpark partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- GRIID Infrastructure Inc.coreCleanSpark announced a merger agreement with GRIID Infrastructure Inc., a Bitcoin mining operator, valued at $155 million with expected closing in Q3 2024. The merger expands CleanSpark's Bitcoin mining capacity in the United States, adding over 400 MW of infrastructure in Tennessee and supporting growth plans through 2026. The transaction includes assumption of GRIID's debt and an exclusive hosting agreement for 20 MW of power.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
CleanSpark competitors and assessment
Company assessmentDirect peers
- Marathon Digital Holdings: Largest US-listed Bitcoin miner with a similarly large hashrate and a stated strategy to monetize its power and data center footprint for AI/HPC workloads, making it the most directly comparable peer to CleanSpark's mining-plus-AI model.
- Riot Platforms: US Bitcoin miner operating utility-scale facilities in Texas with ERCOT exposure and evaluating AI/HPC colocation on its power portfolio, closely mirroring CleanSpark's Texas-led, energy-native strategy.
- Core Scientific: Bitcoin miner that emerged from bankruptcy with a high-power portfolio and signed a long-term CoreWeave AI/HPC hosting agreement, providing a directly comparable template for CleanSpark's hyperscaler pivot.
- Hut 8: Energy infrastructure platform combining Bitcoin mining with AI compute services across US and Canadian sites, structurally comparable to CleanSpark's dual mining and AI/HPC hosting model.
- Cipher Mining: US-focused Bitcoin miner developing large-scale Texas sites with ERCOT power, also exploring HPC/AI hosting opportunities on its contracted capacity.
- Iris Energy: Renewable-powered Bitcoin miner expanding into AI compute using its contracted renewable energy footprint, directly analogous to CleanSpark's energy-native infrastructure thesis.
- Applied Digital: Data center developer hosting AI/HPC workloads (including a major CoreWeave lease) that began as a crypto mining operator, representing the leading example of the miner-to-AI-host pivot CleanSpark is pursuing.
- Bitfarms: Vertically integrated Bitcoin miner with North American and South American operations also exploring HPC/AI opportunities on its power portfolio, a close functional peer to CleanSpark.
Broad incumbents
- Equinix: Global Tier-III/IV colocation incumbent and the benchmark hyperscaler data center partner, representing the established competitor CleanSpark must displace or partner with to win anchor AI tenants.
- Digital Realty Trust: Large-scale data center REIT serving hyperscalers and enterprises globally, providing the incumbent valuation and operating benchmark against which CleanSpark's AI/HPC ambitions will be measured.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CleanSpark social profiles
Digital presenceCleanSpark financial estimates
Financial estimateRevenue estimate
Valuation estimate
CleanSpark leadership team
Management profileNumber of profiles
Profiles11 records
CleanSpark subsidiaries and ownership
Company hierarchySubsidiaries1 record
CleanSpark funding detail
Funding detailFunding overview
Funding rounds11 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CleanSpark M&A and investment
M&A and investmentM&A6 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CleanSpark
What does CleanSpark do?
CleanSpark is a large-scale digital infrastructure developer that owns and operates a multi-gigawatt portfolio of data center campuses across the United States. Its core business combines Bitcoin mining operations (deploying approximately 235,588 ASIC miners at 50 EH/s) with the development and hosting of AI and high-performance computing (HPC) data center capacity for enterprise and hyperscaler customers, secured through 1.8 GW of contracted power across six U.S. states.
Is CleanSpark a public or private company?
CleanSpark is a public company. It is classified as public and is currently operating.
When was CleanSpark founded?
CleanSpark was founded in 2014. It employs 101 to 250 people.
Where is CleanSpark based?
CleanSpark is headquartered in Henderson, United States, in the North America region.
How does CleanSpark make money?
Four revenue lines are on record. Bitcoin Mining is the primary driver. The others are bitcoin Treasury Management, AI/HPC Data Center Hosting and data Center Development Services.
Who are CleanSpark's main competitors?
Direct peers on record are Marathon Digital Holdings, Riot Platforms, Core Scientific, Hut 8, Cipher Mining, Iris Energy, Applied Digital and Bitfarms. Broad incumbents are Equinix and Digital Realty Trust.
Does CleanSpark have an API?
No public API is recorded for CleanSpark.
What industry is CleanSpark in?
CleanSpark's product category is Digital Infrastructure / Data Center Development. Its primary akta.pro industry code is FSADAOAG, Mining Infrastructure & Energy Procurement (Power, Cooling, Grid Services). Its NAICS code is 51821 and its SIC code is 6200.