Key Highlights
- CleanSpark finalized its second Texas facility purchase in February, securing an additional 300 MW of ERCOT-approved power capacity.
- February bitcoin production reached 568 BTC with a daily average of 20.29 BTC.
- The firm liquidated 355 BTC during the month for $36.65M, averaging $66,279 per coin.
- Bitcoin holdings total 13,363 BTC as of month-end February 28, with a mining fleet of 235,588 machines.
- Fiscal Q1 2026 results disappointed investors with an EPS of -$1.35 against consensus expectations of $0.26.
CleanSpark finalized the acquisition of its second Texas mining facility during February, bringing an additional 300 megawatts of ERCOT-approved power capacity into its operational framework.
The Nevada-headquartered bitcoin mining operation now commands 1.8 gigawatts of total contracted power across facilities it either owns outright or leases throughout the United States.
During February 2026, CleanSpark mined 568 bitcoin — marginally lower than January’s 573 BTC output. Daily production averaged 20.29 BTC, with the highest single-day performance hitting 23.84 BTC.
Hashrate metrics showed operational capacity at 150.0 EH/s by month-end, while the monthly average operating hashrate registered at 43.2 EH/s.
CleanSpark’s active mining infrastructure consisted of 235,588 machines as of February 28, achieving peak efficiency metrics of 16.07 J/Th.
Power utilization during February totaled 580 megawatts from the company’s 1.8 GW contracted capacity.
Regarding treasury management, CleanSpark liquidated 355 BTC from February’s mining output, realizing $36,653,613 in gross proceeds at an average sale price of $66,279 per bitcoin.
The company’s bitcoin reserves stood at 13,363 BTC on February 28, which includes 1,086 BTC either pledged as collateral or linked to receivables from derivative positions.
Year-to-date production through February 2026 totals 1,141 bitcoin for the calendar year.
Executive Commentary on Share Repurchases and Corporate Direction
CEO Matt Schultz highlighted that the organization has bought back 20% of its outstanding shares during the previous 18 months. He emphasized that CleanSpark operates with an adaptable treasury approach overseen by DAM to produce consistent cash flow.
The firm is simultaneously advancing artificial intelligence and high-performance computing projects as complements to its primary bitcoin mining operations.
Fiscal Q1 2026 Results Fall Short of Expectations
Notwithstanding positive operational developments, CleanSpark’s latest quarterly financial report proved challenging. The company recorded an EPS of -$1.35 for fiscal Q1 2026, substantially below the consensus estimate of $0.26.
Revenue reached $181.2 million, falling short of the anticipated $194.05 million.
In response to the results, Cantor Fitzgerald reduced its CLSK price target to $17.00 from a previous $21.00, identifying declining bitcoin valuations and increasing global hash rates as primary challenges. The firm maintained its Overweight stance.
H.C. Wainwright similarly adjusted its target downward from $27.00 to $22.00 while preserving a Buy rating. The investment bank noted a 65% decline in share price since bitcoin entered bearish territory in October 2025.
CLSK shares currently trade at $10.66, representing a market capitalization of $2.73 billion. The stock demonstrates a beta coefficient of 3.56 and has appreciated approximately 25% over the trailing twelve months.
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