Shares of CleanSpark Inc.
rallied 2.3% in premarket trading Thursday, after the bitcoin miner said it had February monthly production of 276 bitcoins
but also said it sold 253 bitcoins that month to help fund the bitcoin miner’s operations. The bitcoins it sold was at an average price of $39,740, for proceeds of about $10.1 million. The company said “most” of the proceeds were used for growth capital expenditures at its Norcross facility. Separately, the company said year-to-date bitcoin production through Feb. 28 was 581, while total bitcoin holdings as of Feb. 28 was 494, which would be valued at about $21.8 million at current prices. Bitcoin was recently down 0.3% at $43,827. CleanSpark shares have sunk 19.8% over the past three months through Wednesday, while bitcoin has dropped about 23.0% and the S&P 500
has shed 3.4%.