CleanSpark Ready to Raise $1 Billion, Focus on AI and Bitcoin Stock Buying

Jakarta, Pintu News – Bitcoin (BTC) mining company CleanSpark recently announced ambitious plans to raise $1 billion through a convertible bond offering.

The funds are planned to be used for share buybacks and artificial intelligence (AI) expansion. This strategic move marks a new phase for CleanSpark in integrating advanced technology into their operations.

Innovative Funding Strategies

CleanSpark plans to issue $1.15 billion in zero-coupon convertible bonds maturing in February 2032. The bonds will not pay interest periodically, but buyers can convert them into common stock or a combination of cash and stock, depending on CleanSpark’s discretion.

In addition, early buyers have the option to purchase an additional $200 million worth of convertible bonds within a 13-day window after issuance, depending on market conditions and other factors.

CleanSpark allocated $400 million of the proceeds for share buybacks. The remaining funds will be used for power and land expansion, data center development, and repayment of loans secured by Bitcoin (BTC). The move is expected to strengthen the company’s financial position and accelerate their growth in a highly competitive industry.

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Expansion into Artificial Intelligence

CleanSpark entered the AI sector by forming a new division led by industry veteran Jeffrey Thomas. The company also acquired 271 acres of land in Texas to develop a 285-megawatt AI data center campus. At the same time, CleanSpark partnered with Submer to explore liquid-cooled and prefabricated infrastructure solutions for high-performance computing.

The funding for this AI ambition comes from their Bitcoin (BTC) mining operations, which recently reached a record hashrate of 50 exahashes per second. In the same month, the company’s total Bitcoin (BTC) holdings reached a new peak of 13,011 BTC. The sale of 589 BTC in October was used for land acquisition and securing a power agreement for a data center in Texas.

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Financial Performance and Market Impact

CleanSpark recorded a strong performance in the third quarter, which has been called the most successful quarter in the company’s history, with quarterly revenue increasing 91% year over year to $198.6 million. However, despite the AI expansion and strong fiscal performance, the company’s stock has struggled over the past month due to Bitcoin (BTC) volatility during the period.

CleanSpark shares closed at $15.03 on November 10, down 3.47% from the previous close, with after-hours trading extending the decline to $14.36. Shares have fallen 25% over the past month, retreating from peaks above $22 seen in mid-October. However, planned share buybacks might help mitigate further losses.

Conclusion

With this strategic move, CleanSpark not only strengthens its financial position but also positions itself as a key player in the AI technology revolution. This investment is expected to bring new innovations and increase value for shareholders, while expanding the scope of the company’s operations in the global market.

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Reference

• Crypto News. Bitcoin Miner CleanSpark Eyes $1 Billion Raise for AI Push and Share Buyback. Accessed on November 12, 2025
• Featured Image: Decrypt