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CLSK sold one of its highest proportions of mined BTC during February.

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Bitcoin (BTC) mining stocks rallied in January despite softer BTC prices: JPMorgan

CleanSpark (CLSK), a U.S.-based bitcoin 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.

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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.

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Crypto World

Construction Begins at 1M Qubit Quantum Facility

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Construction Begins at 1M Qubit Quantum Facility

The quantum computing company PsiQuantum is a step closer to its goal of building the world’s first useful quantum computer, breaking ground on the construction of a 1 million-qubit quantum facility, a size that scientists say is powerful enough to crack Bitcoin’s cryptography.

PsiQuantum co-founder Peter Shadbolt shared a photo of its Chicago site in a post to X on Thursday, saying that 500 tons of steel had been erected in six days, which will house the computer.

PsiQuantum said in September that it raised $1 billion to build the facility in collaboration with chip maker Nvidia, designed to house quantum computers capable of functioning even if they have errors.

Source: Peter Shadbolt

PsiQuantum added that the facility would house 1 million qubits of quantum computing power, the equivalent of tens of billions of typical computers, with the aim of making quantum computing commercially useful to support “next-generation AI supercomputers.”

Some in the Bitcoin community have warned that the advent of quantum computing could potentially compromise Bitcoin’s cryptography.

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Some Bitcoiners have argued that such a compromise could put the network, which currently secures $1.4 trillion, at risk, while others, such as Blockstream CEO Adam Back, have said quantum computers won’t post a real threat to Bitcoin for at least a decade.

Bitcoin developers are currently discussing whether to take immediate action against quantum threats via a hard fork, and if so, what that would entail.