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CleanSpark divested 97% of its February bitcoin output to support its transition towards AI.
The generated cash flow will facilitate the bitcoin miner’s growth into artificial intelligence and high-performance computing data centers.
Racks of mining machines. (Michal Bednarek/Shutterstock modified by CoinDesk)
Key Points:
- In February, CleanSpark produced 568 BTC and sold 553 BTC, achieving one of the highest production-to-sales ratios recorded by the company, resulting in approximately $36.6 million in revenue.
- The firm is enhancing its AI-ready infrastructure, which includes a 300 MW campus in Texas, while retaining 13,363 BTC in its treasury, with 1,086 BTC utilized as collateral.
CleanSpark (CLSK), a bitcoin mining company based in the U.S. that operates extensive data centers, sold nearly all of the bitcoin it mined last month to generate funds for its expansion into artificial intelligence (AI) and high-performance computing (HPC).
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The Nasdaq-listed miner produced 568 BTC in February and sold 553 BTC, which is approximately 97%, as stated in its latest operational report. The sales generated around $36.65 million in revenue at an average price of $66,279 per bitcoin, marking one of the highest production-to-sales ratios the company has documented.
This sale reflects a wider trend among bitcoin miners shifting focus towards AI and HPC, with firms increasingly selling either their new production or decreasing their balance sheet holdings to finance new data center and infrastructure projects.
CleanSpark continues to hold a significant treasury. As of February 28, it retained 13,363 BTC, with 1,086 BTC pledged as collateral or listed as receivables related to derivative transactions.
From an operational standpoint, the company is further scaling its mining capabilities. CleanSpark reported an operational hashrate of 50 EH/s, representing approximately 7 percent of the global network’s computing power.
Additionally, the company has finalized a second Texas campus, adding 300 megawatts of ERCOT-approved capacity, thus increasing its total contracted power portfolio to 1.8 gigawatts.
