Key Highlights
- CleanSpark finalized its acquisition of a second Texas facility in February, bringing 300 MW of ERCOT-approved power capacity online.
- February bitcoin production reached 568 BTC with a daily average of 20.29 BTC.
- The miner liquidated 355 BTC generating $36.65M in proceeds at an average sale price of $66,279 per coin.
- Bitcoin holdings stood at 13,363 BTC at month-end with an operational fleet of 235,588 mining machines.
- Fiscal Q1 2026 results showed a significant earnings miss with EPS of -$1.35 compared to analyst expectations of $0.26.
CleanSpark finalized the acquisition of its second Texas mining facility during February, securing an additional 300 megawatts of ERCOT-approved power capacity for its expanding operations.
The Nevada-headquartered cryptocurrency mining operation now commands 1.8 gigawatts of total contracted power capacity spread across facilities it owns outright or leases throughout the United States.
During February 2026, CleanSpark mined 568 bitcoin — marginally lower than January’s output of 573. Daily production averaged 20.29 BTC, with the highest single-day performance hitting 23.84 BTC.
Operational hashrate hit 150.0 EH/s by the end of February, while the monthly average operating hashrate registered at 43.2 EH/s.
The company’s mining fleet totaled 235,588 machines as of the last day of February, operating at peak efficiency levels of 16.07 J/Th.
Of its 1.8 GW total contracted capacity, CleanSpark utilized 580 megawatts during the reporting period.
Regarding treasury management, the company liquidated 355 BTC from its February mining output, realizing $36,653,613 in total proceeds at an average exit price of $66,279 per bitcoin.
The company’s bitcoin reserves totaled 13,363 BTC as of February 28, which includes 1,086 BTC allocated as collateral or receivable associated with derivative positions.
Year-to-date for calendar 2026 ending in February, CleanSpark has mined a cumulative 1,141 bitcoin.
Executive Commentary on Stock Repurchases and Business Direction
CEO Matt Schultz highlighted that the organization has bought back 20% of shares outstanding during the last 18 months. He emphasized the company’s adaptable treasury management approach, which is overseen by DAM to produce consistent cash flow.
Beyond bitcoin mining, the company is pursuing opportunities in artificial intelligence and high-performance computing sectors.
Fiscal Q1 2026 Results Fall Short of Expectations
Despite positive operational developments, CleanSpark’s latest quarterly earnings report disappointed investors significantly. The company recorded earnings per share of -$1.35 for fiscal Q1 2026, substantially below the consensus estimate of $0.26.
Revenues totaled $181.2 million, falling short of the $194.05 million analyst forecast.
In response to the results, Cantor Fitzgerald reduced its price target on CLSK from $21.00 to $17.00, highlighting pressures from declining bitcoin valuations and increasing global network hash rates. The firm maintained its Overweight rating on the stock.
H.C. Wainwright similarly lowered its price objective from $27.00 to $22.00 while preserving a Buy rating. The firm noted the stock’s 65% decline since bitcoin entered bearish territory in October 2025.
CLSK shares are currently trading at $10.66 with a market capitalization of $2.73 billion. The stock exhibits a beta of 3.56 and has posted approximately 25% gains over the trailing twelve months.
