LAS VEGAS - CleanSpark Inc. (NASDAQ:CLSK) produced 658 bitcoin in March 2026, according to a press release statement issued Monday.
The company's operational hashrate reached 50.0 EH/s during the month, with an average operating hashrate of 47.3 EH/s. The deployed fleet consisted of 224,473 miners as of March 31, with a peak efficiency of 16.07 J/Th.
CleanSpark sold 405 bitcoin at spot prices and an additional 500 bitcoin through call option exercises during March. The company acquired 300 bitcoin through put option exercises and 145 bitcoin related to a delta neutral basis trade. The average price per bitcoin sold was $71,396.
The company's bitcoin holdings totaled 13,561 as of March 31, compared to 13,363 at the end of February. Of the total holdings, 1,641 bitcoin was posted as collateral or receivable related to derivative transactions.CleanSpark, with a market capitalization of $2.27 billion, has seen its stock decline 49% over the past six months to $8.82 per share. According to InvestingPro analysis, the stock appears undervalued at current levels, appearing on the platform's most undervalued stocks list. The company's beta of 3.54 reflects the volatile nature of bitcoin mining equities.
CleanSpark's power portfolio includes 1.8 GW under contract, with 808 MW utilized. The company has produced 1,799 bitcoin in calendar year 2026 through March 31.
The company reported an average daily bitcoin production of 21.24 during March, with a peak single-day production of 23.01 bitcoin.
Chief Executive Officer Matt Schultz stated the company is working toward securing its first customer in AI and high-performance computing. The bitcoin mining operations generated cash flow to fund strategic investments, according to the statement.An InvestingPro tip notes that analysts do not anticipate the company will be profitable this year, with forecast EPS of -$1.89 for fiscal 2026. The platform offers 13 additional ProTips for CLSK, along with comprehensive financial health scores and a detailed Pro Research Report that distills complex Wall Street data into actionable intelligence for investors.
CleanSpark operates data centers across the United States.
In other recent news, CleanSpark Inc. reported revenue of $181 million for the first quarter of fiscal 2026. The company has made significant changes to its Series A Preferred Stock, eliminating the quarterly dividend and approving a one-time special payout for preferred shareholders. CleanSpark also expanded its infrastructure with the acquisition of a second Texas campus, adding 300 megawatts of ERCOT-approved capacity.
Analysts have adjusted their outlook on CleanSpark, with Cantor Fitzgerald lowering its price target to $17 while maintaining an Overweight rating. H.C. Wainwright also reduced its price target to $22, continuing to hold a Buy rating. These adjustments are attributed to the pressures from falling Bitcoin prices and rising global hash rates. Additionally, CleanSpark produced 568 bitcoin in February, achieving an average daily production of 20.29 bitcoin.
In the broader market, CleanSpark shares rose 5.5% as Bitcoin prices rebounded, boosting cryptocurrency-related stocks. These developments highlight the company's ongoing efforts to navigate the challenges and opportunities within the Bitcoin mining sector.