AI Power Rush: Companies Vie for Scalable Energy Amid Rising Costs

The H.C. Wainwright 28th Annual Global Investment Conference brought together executives from various companies, including CleanSpark, to discuss the shift in focus from Bitcoin mining to artificial intelligence (AI) infrastructure development.

Moderator Michael Bonanza highlighted that the key bottleneck in AI infrastructure is access to scalable power, which has become a scarce asset. Companies on stage described multi-billion-dollar contracts, leases, and revenue pipelines tied to AI data centers.

CleanSpark's Matt Schultz mentioned that his company has secured $6.6 billion, 20-year triple net lease in Sandersville, Georgia, with annual revenue of about $330 million. CleanSpark also holds exclusivity on 885 megawatts in Texas and has a debt-to-equity ratio of 1.77.

The panelists emphasized the rapid expansion into AI infrastructure, citing strong demand for power and data center space. However, they also noted rising costs, labor shortages, and regulatory scrutiny that could slow execution.