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<a href="https://thecoinrise.com/cleanspark-joins-bitcoin-miners-with-over-10000-btc-in-treasury/" rel="noopener noreferrer nofollow">CleanSpark, a Nasdaq-listed Bitcoin mining company</a>, has announced plans to raise $1.15 billion through a senior convertible note offering, signaling its intent to scale both its Bitcoin mining capacity and emerging artificial intelligence (AI) data center operations.&nbsp;
The move follows a growing trend among major crypto miners seeking to diversify revenue streams beyond Bitcoin.
The offering, <a href="https://x.com/CleanSpark_Inc/status/1988107119082586580" rel="noopener noreferrer nofollow">unveiled</a> on Tuesday, is expected to generate approximately $1.13 billion in net proceeds, or up to $1.28 billion if investors exercise their full options to purchase additional notes. The transaction is set to close on November 13, subject to standard conditions.
CleanSpark said around $460 million of the funds will be used to repurchase common stock from investors at $15.03 per share, matching Monday’s Nasdaq closing price. The remaining proceeds will go toward expanding power and land holdings, developing data center infrastructure, repaying Bitcoin-backed credit, and covering general corporate expenses.
The move comes nearly a year after CleanSpark completed a $550 million private convertible note offering in December 2024. According to <a href="https://bitcoinminingstock.io/hashrate" rel="noopener noreferrer nofollow">data</a> from BitcoinMiningStock.io, the firm is currently the second-largest Bitcoin miner globally, with an operational hashrate of 46.6 EH/s, trailing only Marathon Holdings.
<h2 id="span-style-font-weight-400-bitcoin-miners-pivot-toward-ai-span">Bitcoin Miners Pivot Toward AI</h2>
CleanSpark’s capital raise comes as the broader Bitcoin mining industry accelerates its pivot toward AI infrastructure. The shift has been driven by the post-halving decline in block rewards and increasing energy costs, prompting miners to leverage their data center expertise for high-performance computing (HPC) and AI workloads.
When CleanSpark first revealed plans to expand into AI on October 20, its stock surged 13% in a single day, reflecting investor enthusiasm for the move.&nbsp;
“We have been reviewing the entire portfolio from first principles to evaluate AI suitability and have identified Georgia as a strategic region for both potential conversion as well as expansion,” said Scott Garrison, the company’s Chief Development Officer and Executive Vice President.
<h2 id="span-style-font-weight-400-industry-wide-shift-gains-momentum-span">Industry-Wide Shift Gains Momentum</h2>
CleanSpark is not alone in this transition. Earlier this month, rival Bitcoin mining company IREN signed a $9.7 billion, five-year deal with Microsoft to provide access to Nvidia GPUs hosted in its data centers.&nbsp;
Similarly, in June, <a href="https://thecoinrise.com/core-scientific-banks-580m-profit-as-it-leans-into-ai/" rel="noopener noreferrer nofollow">Core Scientific announced a $3.5 billion partnership</a> with AI cloud provider CoreWeave to supply 200 megawatts of infrastructure for HPC operations. This deal could generate over $3.5 billion over 12 years.
<a href="https://thecoinrise.com/core-scientific-resumes-trading-on-nasdaq-after-strategic-restructuring/" rel="noopener noreferrer nofollow">Core Scientific’s successful pivot to AI effectively</a> revived the company after it filed for Chapter 11 bankruptcy in 2022.
As CleanSpark positions itself at the intersection of Bitcoin and AI, the company’s latest capital raise underscores a broader transformation across the digital infrastructure landscape — where crypto miners are rapidly evolving into the next generation of AI data powerhouses.
The post <a href="https://thecoinrise.com/cleanspark-raises-1-15-billion-to-expand-bitcoin-mining-and-ai-infrastructure/" rel="noopener noreferrer nofollow">CleanSpark Raises $1.15 Billion to Expand Bitcoin Mining and AI Infrastructure</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

CleanSpark Raises $1.15 Billion to Expand Bitcoin Mining and AI Infrastructure

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