CleanSpark, a US Bitcoin miner, reported good activity in February as it mined 568 Bitcoins and sold 553 Bitcoins for an amount of $36.6 million. The company has announced its monthly activity while also providing information on the development of infrastructure, treasury, and industry trends for publicly traded mining firms.
The company has 13,363 Bitcoins in its possession as of the end of February. It increased its capacity by acquiring a second campus in Texas, which had 300 megawatts of power approved by ERCOT. ERCOT is responsible for managing most of Texas’s power grid.
The company’s deployed fleet reached 235,588 mining machines. CleanSpark’s deployed fleet has a 50 EH/s peak hashrate and a 43.2 EH/s average hashrate. CleanSpark had 1.8 gigawatts under contract and 808 megawatts in use.
CleanSpark Expands Technical Capacity
The year-to-date production totaled 1,141 BTC as of Feb. 28. CleanSpark stated that 1,086 BTC of its own holdings are held as collateral or receivable in connection with derivative transactions. CleanSpark is continuing to seek additional technical capacity in accordance with evolving market conditions.
CleanSpark is also preparing parts of its infrastructure for artificial intelligence and high-performance computing applications. This is a trend in the overall industry as miners seek alternative revenue streams beyond traditional Bitcoin mining. It reflects an increased demand for dense power environments for data processing.
As of writing, shares of CleanSpark are down by around 6.66% on the day of the update, according to Yahoo Finance data. The CoinShares Bitcoin Mining ETF has also experienced a decline, falling by 4.73% in the same period.
Source: Yahoo Finance
Other companies in the industry have also been selling Bitcoin in the recent past. Riot Platforms sold 1,818 units in December, translating to around $161.6 million.
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The company is working on leveraging its power and data center assets, supporting AI-related workloads, and generating funds from its sales. The company held around 18,005 BTC at the end of December, having mined 460 BTC.
Miners Accelerate Bitcoin Sales Activity
Bitdeer revealed that it has sold the entire stock of 189.8 BTC produced in February. The company also said that it has sold 943.1 BTC of older stock. The sales were attributed to the need to manage the treasury as the company developed its footprint.
Source: Bitdeer
Core Scientific said that it has sold 1,900 Bitcoin in January as part of a $175 million deal. The sales have left the company with less than 1,000 BTC.
On Thursday, the company said that it has secured a $500 million credit facility from Morgan Stanley to fund high-density computing projects.
Recently, rumors have been circulating regarding the possibility of sales at MARA Holdings. The firm has 53,822 Bitcoin on its balance sheet.
MARA vice president of investor relations Robert Samuels denied the rumors on X. He stated that the firm has not changed its treasury strategy.
Also Read: Bitdeer Empties Bitcoin Treasury, Reduces Holdings to 0