CleanSpark, a Las Vegas based bitcoin miner, is moving into artificial intelligence, beginning to develop AI data centers alongside its crypto-mining business. The company’s CEO laid out details of the recently announced strategy on CNBC’s “Crypto World” this week, and why it’s likely to become core to the business models of more crypto mining companies.
One key example of why bitcoin miners can win in the booming data center market: CleanSpark recently won a 100-megawatt site in Cheyenne, Wyoming, and beat out the tech giant Microsoft for the contract, according to its CEO.
How did a company with a market cap under $6 billion best a $4 trillion company?
Speed to market.
“We were able to scale up and deploy 100 megawatt bitcoin mining facility in about six months, where to build a proper AI data center is going to take three to six years,” CleanSpark CEO Matt Schultz said on CNBC. “Certainly, Cheyenne didn’t select CleanSpark because we had a stronger balance sheet than Microsoft,” he added.
The shift comes as competition for power intensifies, and in a sense, brings CleanSpark full circle, with Schultz noting that it started as an energy company before shifting to bitcoin mining five years ago and becoming one of the largest mining operations.
CleanSpark operates about 1.03 gigawatts of energized facilities and has another 1.7 gigawatts in its development pipeline. Schultz said the plan is to use bitcoin mining to rapidly build out and scale the infrastructure, or “monetizing megawatts” as he referred to it, and then where data centers are already established, identify areas where it makes more sense to convert those to high performance compute and AI. Atlanta is one area he cited as a a prime example of an AI data center hotspot, second only to Northern Virginia on the East Coast.
“Bitcoin miners are uniquely positioned in that we have the ability to build out and energize data centers very rapidly,” Schultz said. “Where we’re seeing constraints is on access to power,” he added.
An array of bitcoin mining units inside a container at a CleanSpark facility in College Park, Georgia, on April 22, 2022.
Elijah Nouvelage | Bloomberg | Getty Images
On Tuesday, CleanSpark announced a partnership with Submer, a data center design and construction firm, to develop AI- focused campuses across North America. The aim is to combine CleanSpark’s energy and land portfolio with Submer’s liquid-cooled, high density infrastructure systems.
“We are positioned to deliver AI capacity at gigawatt scale, faster, cleaner, and more efficiently than traditional approaches,” Schultz said in a press release announcing the deal. “This relationship perfectly aligns with our vision of transforming CleanSpark’s infrastructure platform into the backbone of the next era of intelligent computing,” he said.
Training and running AI models requires enormous power. Hyperscalers like Amazon, Google, and Microsoft are spending record sums on new data centers, and signing deals at a fast pace with utility companies to build new nuclear reactors and restart mothballed ones, but face years of delays in connecting to the grid.
“Hyperscalers are spending 60% of their free cash flow on capex to try and keep up with AI,” Schultz said on CNBC. “Bitcoin miners already own what’s hardest to get: land, substations, and direct access to electricity,” he added.
Shares of Cleanspark have gained more than 100% this year, but the pivot also helps offset shrinking crypto margins. April’s bitcoin halving cut block rewards in half, which tightened profitability.
Stock Chart IconStock chart icon
Performance of bitcoin mining company Cleanspark in past one-year period.
According to the U.S. government, total annual electricity consumption reached a record high in 2024 — and data centers are expected to add pressure to that usage trend if the market continues to grow despite fears of a bubble in the AI sector.
“As we analyzed the opportunities, it was readily apparent that the cash flows and the profitability for a pivot, a strategy that is down dual tracks, maximizing the value of bitcoin mining operations but also using access to land and power to provide AI data center services, is really the most appealing for shareholders,” Schultz told CNBC.
In the third quarter of fiscal 2025, the bitcoin miner brought in around $198.6 million in revenue, which was up almost 91% year over year. Meanwhile, it holds 12,703 bitcoin in its corporate treasury.
Schultz said the AI expansion won’t replace crypto. “It’s [bitcoin mining] a terrific part of our business,” he said.
CleanSpark also benefits from a flexible power model. Its mining operations can shut down during grid stress and push electricity back into the system. This is something AI centers cannot easily do.
“Blending a bitcoin mining facility with an AI data center gives you the ‘interrupt’ ability, the flexibility of those loads that the utility so desperately needs,” Schultz said.
When there is increased demand on the grid, Cleanspark receives signals from utilities and can curtail loads and push power back to the grid rapidly. AI data centers are “the opposite side” of that approach, Schultz said, with many of the agreements requiring uptime of 99.99999%.
That flexibility proved valuable in Georgia when hurricane Helene damaged a local substation. CleanSpark powered down its rigs and redirected energy to the grid. “The lights came back on at the hospital within an hour while they restored the community infrastructure,” Schultz said.
In an unprecedented move, the US Consumer Product Safety Commission (CPSC) has issued a public safety warning urging owners of certain Rad Power Bikes e-bike batteries to immediately stop using them, citing a risk of fire, explosion, and potentially serious injury or death.
The warning, published today, targets Rad’s lithium-ion battery models RP-1304 and HL-RP-S1304, which were sold with some of the company’s most popular e-bikes, including the RadWagon 4, RadRunner 1 and 2, RadRunner Plus, RadExpand 5, RadRover 5 series, and RadCity 3 and 4 models. Replacement batteries sold separately are also included.
According to the CPSC, the batteries “can unexpectedly ignite and explode,” particularly when exposed to water or debris. The agency says it has documented 31 fires linked to the batteries so far, including 12 incidents of property damage totaling over $734,000. Alarmingly, several fires occurred when the battery wasn’t charging or when the bike wasn’t even in use.
Complicating the situation further, Rad Power Bikes – already facing significant financial turmoil – has “refused to agree to an acceptable recall,” according to the CPSC. The company reportedly told regulators it cannot afford to replace or refund the large number of affected batteries. Rad previously informed employees that it could be forced to shut down permanently in January if it cannot secure new funding, barely two weeks before this safety notice was issued by the CPSC.
Advertisement – scroll for more content
For its part, Rad pushed back strongly on the CPSC’s characterization. A Rad Power Bikes Spokesperson explained in a statement to Electrek that the company “stands behind our batteries and our reputation as leaders in the ebike industry, and strongly disagrees with the CPSC’s characterization of certain Rad batteries as defective or unsafe.”
The company explained that its products meet or exceed stringent international safety standards, including UL-2271 and UL-2849, which are standards that the CPSC has proposed as a requirement but not yet implemented. Rad says its batteries have been repeatedly tested by reputable third-party labs, including during the CPSC investigation, and that those tests confirmed full compliance. Rad also claims the CPSC did not independently test the batteries using industry-accepted standards, and stresses that the incident rate cited by the agency represents a tiny fraction of a percent. While acknowledging that any fire report is serious, Rad maintains that lithium-ion batteries across all industries can be hazardous if damaged, improperly used, or exposed to significant water intrusion, and that these universal risks do not indicate a defect specific to Rad’s products.
The company says it entered the process hoping to collaborate with federal regulators to improve safety guidance and rider education, and that it offered multiple compromise solutions – including discounted upgrades to its newer Safe Shield batteries that were a legitimate leap forward in safety in the industry – but the CPSC rejected them. Rad argues that the agency instead demanded a full replacement program that would immediately bankrupt the company, leaving customers without support. It also warns that equating new technology with older products being “unsafe” undermines innovation, noting that the introduction of safer systems, such as anti-lock brakes, doesn’t retroactively deem previous generations faulty. Ultimately, Rad says clear, consistent national standards are needed so manufacturers can operate with confidence while continuing to advance battery safety.
Lithium-ion battery fires have become a growing concern across the US and internationally, with poorly made packs implicated in a rising number of deadly incidents.
While Rad Power Bikes states that no injuries or fatalities have been tied to these specific models, the federal warning marks one of the most serious e-bike battery advisories issued to date – and arrives at a moment when the once-dominant US e-bike brand is already fighting for survival.
FTC: We use income earning auto affiliate links.More.
ALSO, the new micromobility brand spun out of Rivian, just announced official pricing for its long-awaited Alpha Wave helmet. The smart helmet, which introduces a brand-new safety tech called the Release Layer System (RLS), is now listed at $250, with “notify for pre-order” now open on ALSO’s site. Deliveries are expected to begin in spring 2026.
The $250 price point might sound steep, but ALSO is positioning the Alpha Wave as a top-tier lid that undercuts other premium smart helmets with similar tech – some of which push into the $400–500 range. That’s because the Alpha Wave is promising more than just upgraded comfort and design. The company claims the helmet will also deliver a significant leap in rotational impact protection.
The RLS system is made up of four internal panels that are engineered to release on impact, helping dissipate rotational energy – a major factor in many concussions. It’s being marketed as a next-gen alternative to MIPS and similar technologies, and could signal a broader shift in helmet safety standards if adopted widely.
Beyond protection, the Alpha Wave also packs a surprising amount of tech. Four wind-shielded speakers and two noise-canceling microphones are built in for taking calls, playing music, or following navigation prompts. And when paired with ALSO’s own TM-B electric bike, the helmet integrates with the bike’s onboard lighting system for synchronized rear lights and 200-lumen forward visibility.
Advertisement – scroll for more content
The helmet is IPX6-rated for water resistance and charges via USB-C, making it easy to keep powered up alongside other modern gear.
Electrek’s Take
This helmet pushes the smart gear envelope. $250 isn’t nothing, but for integrated lighting, audio, and what might be a true leap forward in crash protection, it’s priced to shake things up in the high-end helmet space.
One area I’m not a huge fan of is the paired front and rear lights. Cruiser motorcycles have this same issue, with paired tail lights mounted close together sometimes being mistaken for a conventional four-wheeled vehicle farther away. I worry that the paired “headlights” and “taillights” of this helmet could be mistaken for a car farther down the road instead of the reality of a much closer cyclist. But hey, we’ll have to see.
The tech is pretty cool though, and if the RLS system holds up to its promise, we might be looking at the new bar for premium e-bike head protection.
FTC: We use income earning auto affiliate links.More.
Georgia is putting more federal National Electric Vehicle Infrastructure (NEVI) dollars to work, with $24.4 million allocated to 26 new DC fast-charging stations across the state.
The Georgia Department of Transportation (GDOT) has selected private-sector partners to build and operate the new stations, which will be located along federally designated Alternative Fuel Corridors. Each site will have four DC fast chargers available 24/7 and, with a minimum of 150 kW per port, capable of delivering a full recharge in as little as 20 minutes, depending on the EV.
This is the second round of Georgia’s NEVI awards. GDOT mapped out 33 priority sites near highway exits and interchanges in mostly rural areas to close gaps left after the first round in 2024. The response was strong: the EV charging industry submitted 41 proposals to cover 26 of those locations.
Six winners were selected: Pilot Travel Centers, Silver Comet Energy, Universal EV, PowerUp America, Love’s Travel Stops, and EnviroSpark Energy Solutions.
Advertisement – scroll for more content
Governor Brian Kemp (R-GA) said, “We appreciate Georgia DOT for fulfilling the state’s commitment to a robust, reliable fast-charging network that meets federal standards and serves communities across Georgia.”
Georgia was allocated about $135 million through the NEVI program, part of President Joe Biden’s Bipartisan Infrastructure Law. The federal program covers up to 80% of the project costs, with private partners covering the balance.
Round 2 follows a legal battle earlier this year, when a lawsuit filed by several states (not Georgia) compelled the Trump Administration to release funds owed from the NEVI Formula Program. A federal judge blocked the Trump administration’s illegal attempt to obstruct the NEVI program in June, clearing the way for planned NEVI EV charging projects to continue.
If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!
Your personalized heat pump quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – *ad
FTC: We use income earning auto affiliate links.More.