CleanSpark acquired ATL Data Center in 2020, marking its entry into bitcoin mining. By 2025, CleanSpark operates 50 EH/s, representing 4.5% of Bitcoin’s total hashrate. The company plans to expand into AI services while maintaining its bitcoin mining core. Fiscal year 2025 saw CleanSpark mine 7,873 BTC, generating $766 million in revenue and $364.5 million net profit.

CleanSpark operates over 266,000 ASIC miners producing 50 EH/s with an energy efficiency of 16.07 J/TH. The company aims to have 57 EH/s online by the end of 2025. Despite expansion, CleanSpark did not issue new shares in 2025, with margins around 55%. The company holds 13,033 BTC, valued at approximately $1.12 billion, with a portion posted as collateral.

CleanSpark is expanding into AI loads using a distressed asset M&A strategy. CEO Matt Schultz highlighted a Texas site with 285 MW of power and a Georgia site as targets for AI load expansion. CleanSpark plans to balance AI and bitcoin mining to provide flexible load for utilities. The company also runs a Digital Asset Management desk for its bitcoin treasury.

Read more at Yahoo Finance: Inside CleanSpark’s FY 2025 earnings call