CleanSpark, Inc. (CLSK), America’s Bitcoin Miner, announced today an expansion into the high-performance compute (HPC) and artificial intelligence (AI) sector with the acquisition of rights to approximately 271 acres of land and long-term power supply agreements totaling 285 megawatts (MW) in Austin County, Texas.
The transactions will let CleanSpark rapidly deploy a next-generation data center campus in the Greater Houston area, increasing the company’s total power under contract by 28%. This move is CleanSpark’s entry into the Texas market to diversify beyond Bitcoin mining.
“This acquisition marks a major milestone in CleanSpark’s strategic business evolution,” said Matt Schultz, Chief Executive Officer and Chairman. “Securing power and land at this scale in one of the nation’s most attractive markets positions us to meet the accelerating demand for AI compute while continuing to deliver long-term value for our shareholders.”
A strategic expansion
The 271-acre site is located between Houston and Austin, supported by grid infrastructure, which allows the company to deliver “scalable, resilient, and energy-efficient capacity for AI, cloud, and enterprise workloads.”
Harry Sudock, Chief Business Officer, described the site’s advantages, saying that it sits at the intersection of “abundant power, fiber connectivity and pro-development energy policy.” Jeffrey Thomas, Senior Vice President of AI Data Centers, added that the Houston market is “emerging as a premier destination” for next-generation data center development and that this acquisition provides the necessary footprint and power to deliver large-scale, high-density compute solutions.
CleanSpark has initiated site design and development immediately, with plans already underway for substation construction. The company expects energization of more than 200 MW to support AI workloads in the first half of 2027.
Under the terms of the purchase agreement, CleanSpark paid a combination of cash and shares of common stock at closing, with additional cash consideration contingent on post-closing events.
Current CLSK market value
At the time of writing, CleanSpark Inc. (CLSK) stock was trading at $19.32, with an increase of 0.86% as per NASDAQ. The stock’s previous close was $19.15, with today’s range between $19.21 and $20.85. Over the last year, the stock has traded in a range of $6.45 to $23.61. The company has a market cap of $5.60B, an average volume of 39.00M, and a PE Ratio of 22.50.
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