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Investing.com -- CleanSpark (NASDAQ:CLSK) stock rose 4% after the company announced its entry into the Texas market with a land acquisition and power agreements to develop an AI data center campus in Greater Houston.
The bitcoin mining company has acquired rights to approximately 271 acres in Austin County, Texas, along with long-term power supply agreements totaling 285 megawatts. The transaction was completed through a combination of cash and company stock at closing, with additional cash consideration tied to post-closing events.
The site is strategically located on a regional fiber backbone with strong grid infrastructure and proximity to natural gas pipelines, which the company is evaluating for behind-the-meter generation opportunities. This positions CleanSpark to expand beyond bitcoin mining into high-performance computing (HPC) to meet growing demand from AI, cloud, and enterprise workloads.
"This acquisition marks a major milestone in CleanSpark’s strategic business evolution," said Matt Schultz, CEO 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."
The company has already begun planning for substation construction with long lead time items secured. CleanSpark expects to energize more than 200 megawatts in the first half of 2027, with phased development supporting AI workloads as the company expands its digital infrastructure platform.
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