Key Highlights
- CleanSpark finalized acquisition of second Texas mining campus in February, bringing online 300 MW of capacity approved by ERCOT.
- February bitcoin production reached 568 BTC with daily average output of 20.29 BTC.
- The miner liquidated 355 BTC generating $36.65M in proceeds at $66,279 average sale price per coin.
- Bitcoin treasury stands at 13,363 BTC as of month-end with active miner fleet of 235,588 units.
- Fiscal Q1 2026 results significantly underperformed with EPS of -$1.35 versus analyst consensus of $0.26.
CleanSpark finalized the acquisition of its second mining campus in Texas during February, bolstering its operations with an additional 300 megawatts of ERCOT-certified power capacity.
The Nevada-headquartered bitcoin mining operation now controls 1.8 gigawatts of total contracted electrical capacity distributed across facilities it either owns outright or leases throughout the United States.
During February 2026, the operation generated 568 bitcoin — marginally below January’s output of 573. Daily production averaged 20.29 BTC, with the highest single-day performance hitting 23.84 BTC.
Operational hashrate climbed to 150.0 EH/s by the end of February, though the monthly average operating hashrate registered at 43.2 EH/s.
CleanSpark’s active mining infrastructure consisted of 235,588 machines as of the final day of February, achieving peak operational efficiency of 16.07 J/Th.
The operation utilized 580 megawatts of its total 1.8 GW contracted electrical capacity throughout the month.
Regarding treasury management, CleanSpark liquidated 355 BTC from February’s mining output, realizing total revenue of $36,653,613 at an average sale price of $66,279 per bitcoin.
The company’s bitcoin holdings totaled 13,363 BTC on February 28, which includes 1,086 committed as collateral or tied to receivables associated with derivative contracts.
Year-to-date production for calendar 2026 through February stands at 1,141 bitcoin.
Executive Remarks on Share Repurchase Program and Treasury Management
CEO Matt Schultz disclosed that the organization has bought back 20% of outstanding shares during the preceding 18-month period. He further noted that CleanSpark employs a dynamic treasury management approach overseen by DAM designed to produce consistent cash flow.
The mining company is simultaneously pursuing artificial intelligence and high-performance computing projects to complement its primary bitcoin mining operations.
Fiscal Q1 2026 Results Fall Short of Expectations
Notwithstanding positive operational developments, CleanSpark’s latest quarterly financial results proved disappointing. The company reported EPS of -$1.35 for its fiscal first quarter of 2026, significantly trailing the anticipated $0.26.
Quarterly revenue totaled $181.2 million, falling short of the $194.05 million analyst projection.
In response to these results, Cantor Fitzgerald reduced its price objective on CLSK shares to $17.00 from a previous $21.00, highlighting depressed bitcoin valuations and expanding worldwide hash rate competition as primary challenges. The investment firm maintained its Overweight recommendation.
H.C. Wainwright similarly lowered its price target from $27.00 to $22.00 while preserving a Buy rating. The financial institution referenced the stock’s 65% decline since bitcoin entered bearish territory in October 2025.
CLSK shares currently change hands at $10.66, yielding a market capitalization of $2.73 billion. The equity exhibits a beta coefficient of 3.56 and has posted approximately 25% gains during the trailing twelve-month period.
