Bitcoin (BTC) treasury of crypto miner CleanSpark grows by 6% from mining operations in February

CleanSpark grew its Bitcoin treasury by approximately 6% from mining operations in February, the crypto miner said on March 5.

CleanSpark, a crypto miner, grew its Bitcoin treasury by approximately 6% from mining operations in February, the company said on March 5.

According to its monthly report, CleanSpark mined a total of 624 Bitcoin (BTC) during the month of February. At Bitcoin’s spot price of around $89,000 as of March 5, the BTC mined by CleanSpark is worth upward of $55 million.

The company sold 2.73 BTC in February at an average price of more than $95,000 per BTC. It added the rest to its corporate treasury, which holds a total of 11,177 BTC as of Feb. 28, the miner said.

With holdings worth more than $1 billion, CleanSpark has amassed the world’s fifth-largest corporate BTC treasury, according to data from BitcoinTreasuries.NET.

Miners are increasingly taking a page out of the Strategy — formerly MicroStrategy — playbook by holding more mined Bitcoin on their balance sheet.

CleanSpark CEO Zach Bradford said the February results “demonstrated the value of our pure play Bitcoin mining strategy.”

Unlike rival Bitcoin miners, which are increasingly diversifying into adjacent revenue streams, such as selling high-performance compute for artificial intelligence models, CleanSpark is focused exclusively on Bitcoin mining.

CleanSpark is a top corporate BTC holder. Source: BitcoinTreasuries.NET

Related: Monthly Bitcoin production drops as miners fight rising hashrate

According to its first-quarter earnings report, CleanSpark’s revenue shot up by 120% year-over-year to reach $162.3 million for the three months ended Dec. 31. Its profits also improved to $241.7 million, or $0.85 per share, from just $25.9 million one year earlier. It also added more than 1,000 BTC to its treasury.

The company’s shares are down more than 10% in the year-to-date as declining cryptocurrency prices add further pressure to Bitcoin miners’ business models, which are already strained by the Bitcoin network’s April halving.

Macroeconomic uncertainty, including fears surrounding a trade war, has rattled markets since Trump took office in January and announced 25% tariffs on Canada and Mexico.

Miners are optimistic that adjacent business lines, including leasing out high-performance hardware to AI models and selling specialized ASIC microchips, will more than offset any revenue losses.