This paper examines the feasibility of applying inorganic thermal-insulating concrete in high geothermal roadways in underground coal mines. This innovative material is based on a mixture of ceramsite, glazed hollow beads, cement, and natural sand, enhanced with varying degrees of basalt fibers. Fibers were used as a partial substitute in the mixture, in the following volumes: 0% (reference specimen), 5%, 10%, 15%, and 20%. Their compressive strength, permeability resistance, and thermal conductivity were studied. A high content of fibers tends to entangle into clumps during mixing, resulting in a significant reduction in the mechanical properties of compressive strength. The appropriate amount of fiber content can improve impermeability, and the permeability height of 5% fiber concrete was reduced by 22.5%. Experiments on thermal behavior showed that an increase of basalt fibers leads to a significant reduction in thermal conductivity. For concrete containing 20% fiber, the thermal conductivity for the reference specimen (0%) in the wet state was reduced from 0.385 W/(m center dot degrees C) to 0.098 W/(m center dot degrees C). There was a slight increase in thermal conductivity when the temperature increased from 30 degrees C to 60 degrees C. Despite the reduced mechanical strength, the resulting concrete is well-suited for use in the insulation of underground roadways, as numerical simulations showed that insulating concrete with optimal fiber content (15%) can reduce the average temperature of the wind flow in a high ground temperature roadway of 100 m in length in a mine by 0.3 degrees C. The final cost-benefit analysis showed that insulating concrete has more economic benefits and broad development prospects when applied to high geothermal roadway cooling projects.