CleanSpark shares soar as Bitcoin miner announces AI expansion

Large Bitcoin mining companies are looking to expand into AI services for new sources of revenue amid the post-Bitcoin halving pressure.

Nasdaq-listed Bitcoin mining company CleanSpark's shares soared over 13% on Monday, after the company announced a strategic expansion into artificial intelligence.

CleanSpark, the fifth-largest Bitcoin (BTC) mining company by market capitalization, announced a new strategy to expand into AI data center infrastructure, aiming to diversify its revenue streams and strengthen long-term cash flow potential.

To lead the initiative, the company appointed Jeffrey Thomas as senior vice president of AI data centers, CleanSpark announced on Monday.

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