CleanSpark Expands Bitcoin Treasury to Over 13,000 BTC
CleanSpark (Nasdaq: CLSK) increased its Bitcoin holdings to 13,011 BTC following its September production update. The U.S.-based miner produced 629 BTC in September, a 27% increase year-on-year. Fleet efficiency also improved by 26% compared to the same period last year.
September marked a key point in CleanSpark’s fiscal year. The company reached 50 exahashes per second (EH/s) of operational hashrate. It completed the acquisition of GRIID Infrastructure and expanded its Bitcoin-backed credit line by $200 million. CleanSpark also launched a derivatives program to optimize treasury yields and manage volatility.
Production and Financial Performance
CleanSpark reported an average daily output of nearly 21 BTC in September, with peak daily production at 21.7 BTC. Total Bitcoin production for 2025 so far is 5,925 BTC. The company sold 445 BTC in September for $48.7 million, averaging $109,568 per Bitcoin. This sale supports ongoing operations through active treasury management.
The firm operates 241,934 mining machines across U.S. data centers. It maintains peak efficiency of 16.07 joules per terahash (J/Th). CleanSpark has 1.03 gigawatts (GW) of contracted power, with 808 megawatts (MW) currently in use. CEO Matt Schultz said the company is entering “a new chapter” focused on leveraging Bitcoin and energy infrastructure for long-term growth.
Treasury Strategy Drives Mining Evolution
CleanSpark’s update follows its August earnings report, where Q3 revenue hit a record $198.6 million. This nearly doubled year-on-year and exceeded analyst expectations. Net income for the quarter reached $257.4 million, highlighting strong profitability despite rising hashrate competition.
CFO Gary Vecchiarelli noted that operational expenses were fully covered by Bitcoin production. The company also expanded its treasury, which surpassed 12,700 BTC by the end of Q3 and now exceeds 13,000 BTC. According to BitcoinTreasuries, CleanSpark ranks ninth among the largest Bitcoin holders.
CleanSpark’s growth reflects a broader industry trend toward balance sheet management. Bitcoin treasuries are now used as financial tools rather than just speculative reserves. By combining Bitcoin-backed credit, derivatives, and active treasury strategies, CleanSpark positions itself as both a miner and capital manager. Competitors like Riot and IREN are pursuing similar approaches. Effective treasury management may be key to sustainable growth after the next Bitcoin halving.
