Crypto: Cleanspark Sells 553 BTC For $36.6m In February As Miners Offload...

The Nasdaq-listed miner sold nearly all of its February production while expanding power capacity in Texas and maintaining a treasury of more than 13,000 BTC.

US Bitcoin miner CleanSpark last month sold 553 Bitcoin from its February production for about $36.6 million, while producing 568 BTC during the month, according to the company’s latest operational update.

The company ended February with 13,363 BTC (BTC) in its treasury and continued expanding its infrastructure by completing the closing on a second Texas campus that adds 300 megawatts of ERCOT-approved power capacity.

The Electric Reliability Council of Texas, or ERCOT, operates the state’s electrical grid.

CleanSpark said its deployed fleet totaled 235,588 mining machines at the end of February, operating with 50 EH/s peak hashrate, a measure of mining computing power, and 43.2 EH/s average hashrate.

Across its power portfolio, the company has 1.8 gigawatts of capacity under contract, with 808 megawatts currently in use.

CleanSpark said it has produced 1,141 BTC year-to-date, as of Feb. 28. The company also said 1,086 BTC of its holdings are posted as collateral or receivable in connection with derivatives transactions.

The company is also positioning parts of its infrastructure to support artificial intelligence and high-performance computing workloads, reflecting a broader shift among Bitcoin miners seeking to monetize power-dense data center capacity beyond crypto mining.

At the time of writing, the company’s stock was down about 7.5% on the day, according to Yahoo Finance data. Sector-tracking exchange-traded fund CoinShares Bitcoin Mining ETF was down 6.4%, at the same time.

Related: Ex-OpenAI researcher’s hedge fund reveals big Bitcoin miner bets in new SEC filing

Source: CoinTelegraph