CleanSpark, a publicly traded Bitcoin mining company, has released its operational and financial update for February 2026, revealing a strategy of selling mined Bitcoin for cash while simultaneously expanding its infrastructure and increasing its overall holdings.
The company mined 568 Bitcoin (BTC) in February, bringing its year-to-date total production to 1,141 BTC. During the same month, CleanSpark sold 553.02 BTC (with one source specifying 355 BTC from February production) at an average price of $66,279, generating approximately $36.65 million in proceeds. This strategy of "selling into strength" allowed the company to raise operational cash while still growing its core treasury.
By the end of February, CleanSpark's total Bitcoin holdings had increased to 13,363 BTC, which includes 1,086 BTC posted as collateral. This reflects a balanced approach of monetizing output to fund operations while maintaining a long-term bullish stance on the asset.
On the expansion front, CleanSpark completed the acquisition of its second Texas campus in February, adding 300 megawatts of ERCOT-approved power capacity. This brings the company's total contracted power capacity to 1.8 gigawatts across its U.S. sites. The operational hashrate reached 150.0 EH/s at month-end, with a deployed fleet of 235,588 miners running at peak efficiency.
CEO Matt Schultz highlighted that the company has repurchased 20% of its outstanding stock over the past 18 months and maintains a flexible treasury strategy. CleanSpark is also developing initiatives in AI and high-performance computing alongside its core mining business.
Despite the operational progress, CleanSpark faced a significant earnings miss for its fiscal Q1 2026, reporting an EPS of -$1.35 against an expected $0.26, with revenue of $181.2 million missing forecasts. Following the report, analysts at Cantor Fitzgerald and H.C. Wainwright lowered their price targets on CLSK stock, citing lower Bitcoin prices and rising global hash rates as headwinds.
