NEW YORK, March 13, 2026, 18:00 EDT
CleanSpark Inc. stock picked up late Friday, tracking bitcoin’s rebound above $71,000 and giving the U.S. miner some relief following a rocky period for crypto-exposed names. The shares climbed roughly 2.3% to $9.76, off a session peak of $10.37. Bitcoin hovered near $71,144, having earlier touched an intraday top of $73,897.
CleanSpark still mostly trades like a proxy for bitcoin, despite management pitching its shift toward data centers that demand plenty of power. On March 5, the company announced it had wrapped up the purchase of a second Texas campus—bringing in 300 megawatts of ERCOT-approved capacity. For February, CleanSpark produced 568 bitcoin and ended the month holding 13,363 bitcoin.
Debate intensified after CleanSpark reported results on Feb. 5. The firm delivered $181.2 million in revenue for the quarter but recorded a net loss of $378.7 million. President and CFO Gary Vecchiarelli emphasized a shift, saying CleanSpark was “no longer a single-track business” as it began diverting mining cash flow toward a wider infrastructure strategy. CleanSpark Investors
Management hasn’t let up on that argument. On the earnings call, Chief Executive Matt Schultz broke the AI expansion into three steps: first, locking down power and land; next, finding tenants; and finally, turning the properties into revenue. Schultz said they’re “firmly in the second phase” on a number of assets. In industry speak, HPC—high-performance computing—covers the heavy-duty server tasks behind AI training and other big compute jobs. The Motley Fool
Peers split. Marathon Digital tacked on 6.3% and Cipher Digital climbed 2.7%. Riot Platforms, though, slipped 3.3%. The trade didn’t move in lockstep, despite bitcoin holding up.
CleanSpark’s newest operating update highlighted why investors are still backing it. The company unloaded 553 bitcoin from February output, pulling in roughly $36.7 million. CEO Schultz pointed out the focus: “generate predictable cash flow” from mining, even as CleanSpark works to turn its hefty power and compute infrastructure into revenue through tenant-led expansion. PR Newswire
Still, the old rule holds: CleanSpark’s stock doesn’t sit still for long. Back in January, the company flagged that its Brazoria County, Texas, project wasn’t a done deal yet—it needed both property and utility approvals. CleanSpark also cautioned investors about the risks of jumping into data-center development, especially with little track record in that space. On Friday, fresh jitters over inflation and wild swings in oil prices rattled the broader U.S. market.
Back in January, Schultz reported that CleanSpark was “progressing discussions” with data-center tenants during its operations update, as the company ramped up land and power. Even so, it looks like bitcoin remains the main driver for CleanSpark’s share price right now.
