CleanSpark, Inc. (NASDAQ:CLSK) stock rose Wednesday as the company’s latest quarterly update signaled a sharp strategic pivot toward high-demand AI infrastructure, even as near-term earnings lagged expectations.
The shift positions the miner-turned-infrastructure player for potentially transformative colocation deals that could reshape its revenue mix long before its Bitcoin-dependent operations fade.
On Tuesday, CleanSpark reported fourth-quarter revenue of $223.65 million, missing analyst estimates of $236.97 million and a loss of 1 cent per share, missing estimates for positive earnings of 38 cents per share.
Also Read: CleanSpark Stock Jumps After JPMorgan Upgrade — Here’s What Sparked The Move
Rapidly Shifting To AI Infrastructure
Chardan analyst James McIlree stated that revenue exceeded their $215 million estimate and noted that the company is rapidly shifting to AI infrastructure, leveraging 1.3 GW of contracted power, including 285 MW near Houston, TX, and 230 MW at Sandersville, GA, both ready for AI lease by early 2027.
The analyst says that these sites will transition additional capacity from Bitcoin mining to AI, boosting revenue and margins.
McIlree writes that Sandersville alone could generate $233 million in annualized revenue, while recent contracts covering 230 MW may yield over $300 million in revenue at 80%+ …