CleanSpark (NASDAQ:CLSK) has released its March update, and the figures are striking. Bitcoin production soared by 13% to 706 BTC, despite the hashrate only increasing by 4.2% to 42.4 EH/s, indicating genuine operational efficiencies. Even more remarkable? They currently hold 11,869 bitcoins, valued at over $1 billion according to recent prices. This isn’t merely stacking sats—it’s constructing a financial powerhouse. While many miners are reducing their inventories or facing cash flow difficulties, CleanSpark sold only 14.23 BTC last month, firmly committing to a long-term hodl and scaling strategy.
Their growth strategy is equally bold. CleanSpark is activating 915 MW of contracted power, getting closer to that key gigawatt benchmark. They will be adding 2.5 EH/s in Wyoming this quarter, 2 EH/s in Mississippi and Georgia, and a remarkable 4 EH/s in Tennessee. The latter isn’t just about raw energy production—it’s connected to the TVA demand response program, which opens up a fresh revenue stream for grid support. Altogether, these initiatives will provide an 8.5 EH/s increase, translating to about a 20% rise in current capacity. With a total operational fleet of 205,412 miners, CleanSpark’s expansion is backed by real power rather than hype.
Moreover, this is where their competitive advantage strengthens. While new tariffs could disrupt the industry, CleanSpark was prepared. Most of their infrastructure is already located in the U.S., protecting them from increasing import costs that could destabilize smaller competitors. With their scale, access to low-cost energy, and impressive fleet efficiency (17.03 J/Th), they’re not just weathering the industry shakeout—they’re set to take the lead. As the Bitcoin mining landscape evolves, CleanSpark is beginning to resemble a market maker rather than a mere miner.
This article first appeared on GuruFocus.
