CleanSpark sold 97% of February bitcoin production to fund AI pivot

CleanSpark (CLSK), a U.S.-based bitcoin $BTC$72,578.05 mining company that operates large-scale data centers, sold almost all the bitcoin it produced last month to generate cash for an expansion into artificial intelligence (AI) and high-performance computing (HPC).

The Nasdaq-listed miner produced 568 $BTC in February and sold 553 $BTC, roughly 97%, according to its latest operational update. The sales generated about $36.65 million in proceeds at an average price of $66,279 per bitcoin, one of the highest production-to-sales ratios the company has reported.

The sale reflects a broader trend among bitcoin miners pivoting toward AI and HPC, with companies increasingly selling either new production or reducing their balance-sheet holdings to help fund new data center and infrastructure development.

CleanSpark still maintains a sizable treasury. As of Feb. 28, it held 13,363 $BTC, with 1,086 $BTC pledged as collateral or recorded as receivables related to derivative transactions.

Operationally, the company continues to scale its mining platform. CleanSpark reported 50 EH/s of operational hashrate, roughly 7 percent of the global network’s computing power.

The company also closed on a second Texas campus, adding 300 megawatts of ERCOT approved capacity and bringing its total contracted power portfolio to 1.8 gigawatts.