TLDR
- CleanSpark mined 568 BTC in February and sold 553 BTC for about $36.6M.
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Treasury rose to 13,363 BTC as the firm kept part of its output.
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The miner advanced its AI and HPC plans with new Texas capacity.
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About 1,086 BTC remain pledged as collateral or tied to derivatives.
CleanSpark increased its Bitcoin holdings in February even as it sold most of its new production to support growing capital needs. The company reported that it mined 568 BTC during the month and sold 553 BTC at an average price of $66,279. The sales generated about $36.65 million in cash.
The firm’s total treasury reached 13,363 BTC at the end of February. That figure includes 1,086 BTC that remain pledged as collateral or recorded as receivables linked to derivative positions. The move shows the miner is keeping a core reserve while still using market strength to fund new projects.
Strategy Centers on Cash Flow and Long-Term BTC Exposure
CleanSpark stated that the sales help maintain steady liquidity as it scales its infrastructure. Many miners are taking a similar route as they use higher market prices to raise funds while holding a base amount of bitcoin for future value.
Chief Executive Officer Matt Schultz said the company takes a consistent approach to capital use.
“We run our balance sheet the same way we run our operations: with conviction,” he said.
He noted that the firm repurchased about 20% of its own shares in the past 18 months because it supports its long-term plans.
Schultz added that the treasury strategy is flexible and supported by its digital asset management program, which the company uses to generate cash across various cycles.
Expansion Into AI and High-Performance Computing
CleanSpark continued to extend its footprint in the data center market as it moves deeper into AI and high-performance computing. The miner secured a second Texas campus with 300 megawatts of ERCOT-approved capacity. With this addition, the company now holds about 1.8 gigawatts of contracted power.
Schultz said the new site strengthens its position in power-dense digital infrastructure. He added that the company aims to use this capacity for tenant-driven growth as the demand for advanced compute power rises across industries.
The firm’s operational hashrate reached 50 EH/s in February, which is about 7% of global network computing power. This positions the company among the largest mining operators in the United States.
Market Conditions Shape Miner Treasury Behavior
CleanSpark’s approach reflects a broader shift among miners as they navigate strong bitcoin prices, growing competition, and new revenue opportunities. Firms are balancing coin sales with treasury growth to avoid liquidity pressure during weaker periods while still keeping exposure to long-term price trends.
Many miners are also adjusting their business models as AI and HPC demand rises. Some companies are selling more of their new output, while others are reducing balance-sheet reserves to fund large infrastructure expansions.
CleanSpark plans to continue using Bitcoin mining to generate reliable cash flow while developing hyperscale-ready capacity. Schultz said the company aims to grow its mining platform and expand its infrastructure “today, not later,” as it works to keep flexibility across market cycles.
