CleanSpark Inc., a leading bitcoin mining company, revealed that it sold 70% of its mined Bitcoin in March at an average price of $71,396 per coin, worth over $32.8 million. The company's balance sheet now has a total of 13,561 Bitcoins.
The sale comes as part of CleanSpark's pivot towards Artificial Intelligence (AI) and High-Performance Computing (HPC) workloads, which is expected to provide higher margins for the company. This shift is not unique to CleanSpark, as other bitcoin miners such as Riot Platforms and MARA Holdings have also been selling their Bitcoin reserves to fund their AI and HPC initiatives.