CleanSpark, Inc. (NASDAQ: CLSK) shares experienced a significant jump of 3.5% on Wednesday morning following the company’s announcement of a major land acquisition in Brazoria County, Texas. The Bitcoin mining company has entered into a definitive agreement to acquire up to 447 acres of land. This acquisition is coupled with a long-term transmission facilities extension agreement, strategically positioning CleanSpark to develop large-scale data center infrastructure tailored for artificial intelligence and high-performance computing workloads.
As of 10:02 AM EST, CLSK stock was trading at $13.10, marking an increase of $0.55 or 4.34% from its previous closing price of $12.55. The stock reached an intraday high of $13.49 during trading.
Texas Acquisition Adds 600 MW of Power for AI Data Centers
This latest acquisition represents CleanSpark’s second strategic development initiative in the greater Houston region, complementing its existing Austin County project. Collectively, these two sites provide the company with a substantial aggregate potential utility capacity exceeding 890 megawatts, effectively establishing a significant regional hub for power and infrastructure development.
The Brazoria County site is designed to support transmission-level power, enabling an initial demand load of 300 MW. Furthermore, it holds the potential for further expansion, with capacity for an additional 300 MW, bringing the total potential to 600 MW. The transaction is anticipated to close in the first quarter of 2026, subject to the successful completion of utility and property-related approvals.
CleanSpark CEO Matt Schultz highlighted the critical strategic importance of this acquisition. He noted the accelerating demand for scaled, AI-native compute power, contrasted with the increasing constraints on accessing transmission-level power in strategically advantageous regions.
Jeff Thomas, Senior Vice President of AI Data Centers at CleanSpark, added that with this new land acquisition, the company is now approaching a full gigawatt of total potential capacity within the Houston area. This clustered capacity offers a crucial competitive advantage for customers planning large, multi-campus deployments, providing them with the flexibility to deploy resources both in front of and behind the meter.
CLSK Stock Performance and Investor Reaction to AI Infrastructure Pivot
CleanSpark’s stock has demonstrated robust performance year-to-date, achieving a return of 32.31%. This significantly outperforms the S&P 500’s gain of 1.09% over the same period. The company currently holds a market capitalization of approximately $3.58 billion. Its trailing P/E ratio stands at 11.96, with a forward P/E ratio of 14.84.
Over the past year, CLSK has delivered a return of 29.37%, substantially outperforming the broader market. The company’s impressive three-year return of 418.99% underscores its remarkable growth trajectory, although its five-year return shows a decline of 62.50%.
Analyst sentiment regarding CLSK stock remains generally positive. The average price target of $23.12 suggests substantial upside potential from current trading levels. The stock holds a consensus “Overweight” rating. Recent analyst activity includes Maxim Group initiating coverage on January 8, 2026, with a “Buy” rating and a price target of $22.
Trading volume for CLSK on Wednesday reached 12.27 million shares, which is below its average daily volume of 30.74 million shares. The company reported revenue of $766.31 million over the trailing twelve months, accompanied by a profit margin of 47.56%. While CleanSpark maintains a negative return on assets of -2.33%, this is offset by a positive return on equity of 18.52%.