CleanSpark Leverages Bitcoin Mining Infrastructure in Shift to AI Data Centers

At the H.C. Wainwright 28th Annual Global Investment Conference on September 14, 2026, CleanSpark and peers discussed the shift from Bitcoin mining to AI data center development. The panel highlighted strong demand for AI infrastructure, large contract wins, and rising asset values, but also warned of labor shortages, equipment lead times, and political resistance.

Bitcoin miners are leveraging their access to energized power, land, and operating experience to win AI infrastructure deals from hyperscalers, frontier model providers, and neocloud customers. Panelists emphasized that AI demand is real and large, even if some market claims are speculative, and identified power availability as the main bottleneck.

Build costs for AI data centers have risen sharply, with several speakers citing $8 million to $13 million per megawatt, compared to $1 million to $1.5 million per megawatt typical for Bitcoin mining sites. CleanSpark is targeting $10 million to $11 million per megawatt for complete ready-for-service data center builds.

CleanSpark has secured a $6.6 billion, 20-year triple-net lease with a high investment-grade tenant, representing about $330 million in annual revenue and close to 100% bottom-line profitability. The company also has exclusivity on up to 885 additional megawatts in Texas, including 585 megawatts recently announced as Batch Zero baseload power.