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CleanSpark shares rise as bitcoin miner expands AI power capacity in Texas
Yahoo Finance· 2026-01-14 15:15
Core Viewpoint - CleanSpark's shares increased by 5% to $13 following the announcement of its Texas power and land expansion, which aims to support large-scale data center development for AI and high-performance computing workloads [1][2]. Group 1: Acquisition and Development - The company has entered into a definitive agreement to acquire up to 447 acres in Brazoria County, Texas, which will serve as a foundation for its data center development [2]. - This project is expected to support an initial demand of 300 megawatts, with potential expansion of an additional 300 megawatts, pending regulatory and utility approvals, with closing anticipated in Q1 2026 [3]. Group 2: Strategic Initiatives - This initiative marks CleanSpark's second strategic project in the greater Houston area, complementing its existing development in Austin County, which together provide over 890 megawatts of potential utility capacity [3]. - The company plans to advance its Texas development pipeline while seeking partnerships for scalable, long-term AI-focused campuses [4].