CleanSpark (CLSK) Stock: Texas Campus Acquisition and February Mining Update

TLDR

• CleanSpark completed its second Texas campus acquisition in February, adding 300 MW of ERCOT-approved capacity.
• The company produced 568 bitcoin in February at an average daily rate of 20.29 BTC.
• CleanSpark sold 355 BTC for $36.65M at an average price of $66,279 per bitcoin.
• The company holds 13,363 BTC as of February 28 and runs a fleet of 235,588 miners.
• CleanSpark missed Q1 2026 earnings badly, posting EPS of -$1.35 vs. an expected $0.26.

CleanSpark completed the purchase of its second Texas campus in February, adding 300 megawatts of ERCOT-approved capacity to its growing infrastructure portfolio.

The Las Vegas-based bitcoin miner now holds a total contracted power capacity of 1.8 gigawatts across wholly owned or leased sites in the United States.

For February 2026, the company produced 568 bitcoin — just below the 573 produced in January. Average daily production came in at 20.29 BTC, with a peak single-day output of 23.84 BTC.

CleanSpark, Inc., CLSK

The operational hashrate reached 150.0 EH/s at month-end, while the average operating hashrate across the month was 43.2 EH/s.

CleanSpark’s deployed fleet stood at 235,588 miners as of February 28, running at a peak efficiency of 16.07 J/Th.

The company used 580 megawatts of its 1.8 GW contracted power capacity during the month.

On the treasury side, CleanSpark sold 355 BTC from its February production, generating total proceeds of $36,653,613 at an average price of $66,279 per bitcoin.

As of February 28, the company held 13,363 BTC on its balance sheet, including 1,086 posted as collateral or receivable linked to derivative transactions.

For calendar year 2026 through February, CleanSpark has produced a total of 1,141 bitcoin.

CEO Comments on Buybacks and Strategy

CEO Matt Schultz said the company has repurchased 20% of its outstanding stock over the past 18 months. He also said CleanSpark maintains a flexible treasury strategy managed by DAM to generate ongoing cash flow.

The company is also developing AI and high-performance computing initiatives alongside its core bitcoin mining business.

Q1 2026 Earnings Miss and Analyst Reactions

Despite the operational updates, CleanSpark’s most recent earnings report was a rough one. The company posted an EPS of -$1.35 for fiscal Q1 2026, far below the expected $0.26.

Revenue came in at $181.2 million, missing the $194.05 million forecast.

Following the report, Cantor Fitzgerald cut its price target on CLSK to $17.00 from $21.00, pointing to lower bitcoin prices and rising global hash rates as key headwinds. The firm kept its Overweight rating.

H.C. Wainwright also trimmed its target, moving from $27.00 down to $22.00, while holding a Buy rating. The bank cited a 65% drop in the stock since bitcoin entered a bear market in October 2025.

CLSK currently trades at $10.66, with a market cap of $2.73 billion. The stock carries a beta of 3.56 and has gained roughly 25% over the past year.

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