CleanSpark Hits 13,011 BTC Treasury, Sells $48.7M in Bitcoin
CleanSpark has raised its BTC treasury to 13,011 by the end of September after mining 629 BTC, a 27% year-on-year increase. The Nasdaq-listed miner sold 445 BTC at an average price of $109,568, netting $48.7 million. Since April, the company has followed a monthly Bitcoin sales strategy to fund operations, including August’s sale of 533.5 BTC for $60.7 million. CleanSpark also improved its mining efficiency by 26% and reached a record average hashrate of 45.6 EH/s, while opening an institutional trading desk. After the update, CleanSpark shares rose 5.28% on Nasdaq, with a weekly gain exceeding 23%. The wider Bitcoin mining sector saw its market cap hit $58.1 billion in September. Rising energy costs, record-high mining difficulty, and potential US tariffs on Chinese-made rigs (up to $185 million) pose headwinds for miners.
Bullish
The accumulation of 13,011 BTC by CleanSpark, coupled with improved mining efficiency and record hashrate, underscores institutional confidence in Bitcoin’s long-term value. Despite minor Bitcoin sales to fund operations, the strategy points to continued demand, while share price gains reflect positive market sentiment. Short-term, sales may exert limited downward pressure, but the overall trend supports buying momentum. Over the long term, CleanSpark’s reserves growth and efficiency gains are likely to reinforce market stability and demand for Bitcoin.