OriginClear Inc. has announced the launch of a new joint venture, OriginSpark, with Bitmern Mining to develop and operate large‑scale Bitcoin mining facilities across the United States. The partnership will begin with a 100‑megawatt pilot project and aims to scale to 500 MW, with additional sites under consideration in Arizona and Texas. The venture will integrate artificial‑intelligence‑driven management systems to optimize power usage and reduce the carbon footprint of the mining operations.
OriginClear’s core business has long focused on water‑technology solutions, and the company reported a net loss of $18.97 million for the year ended December 31, 2024, compared with a $11.63 million loss in 2023. Revenue fell to $5.54 million in 2024 from $6.71 million in 2023, reflecting the company’s ongoing transition away from its legacy water‑infrastructure contracts. The new Bitcoin mining venture represents a strategic pivot that could create a recurring revenue stream complementary to OriginClear’s Water‑as‑a‑Service model, but it also introduces exposure to cryptocurrency market volatility and regulatory scrutiny.
OriginSpark is structured as a project‑financing vehicle that will provide preferred returns, a five‑year capital exit, and optional Bitcoin‑backed borrowing to investors. The model is designed to attract private capital through Opportunity Zone investment vehicles and OriginClear’s tax‑advantaged funding platform, allowing the venture to secure financing at a lower cost of capital than traditional debt. The financial architecture also includes a planned Bitcoin Treasury to capture unrealized gains, positioning the venture to benefit from long‑term price appreciation while mitigating short‑term volatility.
Bitmern Mining, the operator of Bitcoin‑mining hosting facilities in Indiana, North Dakota, and Ethiopia, will supply the operational expertise and existing infrastructure for the joint venture. As of October 12, 2025, Bitmern has not yet raised external funding and is considered an unfunded company, which means the partnership will rely heavily on OriginClear’s financing capabilities to launch the pilot. The collaboration will leverage Bitmern’s proven hardware and hosting services while allowing OriginClear to apply its financial structuring expertise to secure capital for the project.
The pilot facility will be located in Indiana, with a second site planned for North Dakota. Both sites will use renewable‑energy sources where available, and the joint venture has committed to integrating AI‑driven load‑balancing to reduce energy waste. The company has outlined a phased expansion plan that will add 400 MW of capacity over the next three years, targeting Arizona and Texas for their favorable regulatory environments and access to renewable power grids.
Environmental and regulatory considerations are central to the venture’s strategy. Bitcoin mining is known for high energy consumption and carbon emissions, and the joint venture has pledged to use renewable energy and AI optimization to lower its carbon footprint. The partnership will also navigate evolving U.S. regulations on cryptocurrency mining, including potential federal and state tax incentives and compliance requirements related to energy usage and environmental impact.
Riggs Eckelberry, CEO of OriginClear, said the partnership “leverages our financial expertise to unlock capital for a high‑growth, technology‑driven infrastructure market while maintaining our commitment to sustainability.” Giannis Andreou, CEO of Bitmern, added that the collaboration “accelerates our expansion in the U.S. by combining our operational track record with OriginClear’s project‑financing model, enabling us to deploy AI‑integrated mining facilities that deliver value to stakeholders.”
The joint venture represents a bold diversification that could open a new revenue stream for OriginClear but also introduces significant risks. The cryptocurrency market’s volatility could impact profitability, and regulatory scrutiny could impose additional compliance costs. However, the partnership’s focus on renewable energy, AI optimization, and Opportunity Zone financing positions it to mitigate some of these risks while pursuing a potentially lucrative market that is projected to grow from $14 billion in 2025 to $85 billion by 2035.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.