Key Takeaways:
CleanSpark bought 454 bitcoin for about $29 million on July 7, lifting its treasury to 13,924 BTC even as rivals sell holdings.
"CleanSpark's mining operations continue to perform well in the face of market volatility," Chief Executive Officer and Chairman Matt Schultz said, adding that the company is advancing commercialization at its Sandersville facility and progressing toward energization in Texas.
The purchase was executed at an average price near $64,000 per coin, according to data tracked by on-chain monitors. The Las Vegas-based miner produced 614 bitcoin in June, down from 671 in May, with average operating hashrate falling to 42.6 EH/s from 46.2 EH/s. CleanSpark held $925.2 million in bitcoin and $260.3 million in cash at the end of its fiscal second quarter ended March 31, filings show.
The accumulation stands in sharp contrast to the broader mining sector. Publicly listed miners sold more than 32,000 BTC combined in the first quarter of 2026, a record that surpassed their full-year 2025 total, with Marathon Digital alone selling over 20,800 BTC to retire debt and fund expansion. CleanSpark's bet that prices will rise from current levels carries risk: the company posted a $378.3 million net loss for its fiscal second quarter, driven largely by a $224.1 million non-cash loss on the fair value of its bitcoin holdings.
CleanSpark's short interest rose to 33.04% in June, the highest among crypto-linked companies with a market value above $2 billion, according to exchange data. The elevated short positioning reflects a market divided over whether the company's scaled mining operations and growing bitcoin treasury can justify its capital requirements during a weaker crypto cycle.
The company reported 50 EH/s of peak operational hashrate in June, with 225,137 miners deployed and 1.8 GW of power under contract. Of the 13,924 bitcoin held at June 30, 1,719 were posted as collateral or listed as receivable related to derivative transactions, according to the company's unaudited operational update.
CleanSpark shares fell 7.6% on Tuesday to $12.48, extending volatility around one of the most closely watched crypto equities. The stock has held up better than the underlying asset this year, with mining equities as a group outperforming bitcoin.
This article is for informational purposes only and does not constitute investment advice.
