CleanSpark (CLSK, Financial) just dropped its March update—and the numbers hit hard. Bitcoin production surged 13% to 706 BTC, even as hashrate only rose 4.2% to 42.4 EH/s, pointing to real operational gains. More impressive? They've now got 11,869 bitcoin on the books—worth over $1 billion at recent prices. That's not just stacking sats—it's building a fortress of financial firepower. While most miners are trimming inventories or struggling with cash flow, CleanSpark sold just 14.23 BTC last month, leaning hard into a long-term “hodl and scale” strategy.
The growth plan is just as aggressive. CleanSpark is lighting up 915 MW of contracted power—edging closer to that symbolic gigawatt milestone. They're adding 2.5 EH/s in Wyoming this quarter, 2 EH/s across Mississippi and Georgia, and a massive 4 EH/s in Tennessee. That last one isn't just raw power—it's plugged into the TVA demand response program, unlocking a new revenue stream from grid support. In total, these moves add up to an 8.5 EH/s boost—about a 20% increase on current capacity. With a deployed fleet of 205,412 miners, CleanSpark's expansion isn't hype—it's horsepower.
And here's where the moat deepens. While new tariffs may rattle the industry, CleanSpark saw it coming. Most of their infrastructure is already U.S.-based, shielding them from rising import costs that could knock smaller rivals off balance. With scale, low-cost energy, and high fleet efficiency (17.03 J/Th), they're not just surviving the shakeout—they're poised to lead it. As the dust settles in the Bitcoin mining arms race, CleanSpark looks less like a miner and more like a market maker.
