Bitcoin Miner Cleanspark Adds 454 BTC at $64K While Others Sell Into the Bear Market

Bitcoin miner Cleanspark (Nasdaq: CLSK) purchased 454 BTC worth approximately $29 million on July 7 at an average price near $64,000, increasing its treasury to 13,924 BTC. This move comes as the broader mining industry sells coins to navigate the bear market.

The purchase stands in sharp contrast to industry trends. Publicly listed miners sold over 32,000 BTC combined in the first quarter of 2026, a record that surpassed their full-year 2025 total. Marathon alone sold more than 20,800 BTC to retire debt and fund expansion. Cleanspark’s accumulation signals confidence in future price appreciation.

Cleanspark earlier posted a $378.3 million net loss for its fiscal second quarter ended March 31, driven largely by a $224.1 million non-cash loss on the fair value of its bitcoin holdings. At quarter-end, the company held $925.2 million in bitcoin and $260.3 million in cash, underscoring the treasury as the balance sheet’s centerpiece.

Fair-value accounting rules force miners to mark their bitcoin to market quarterly, meaning the same stack that produced a paper loss would swing to gains during any recovery. Cleanspark has consistently described its purchases as opportunistic, adding coins during market weakness.

Mining stocks have held up better than bitcoin this year, with miner equities outperforming BTC. By holding rather than selling production, Cleanspark must fund operations from other sources. A deeper bitcoin decline would compound both operating pressure and mark-to-market losses. For now, the message from the July 7 purchase is clear: while competitors sell, Cleanspark buys.

Source: https://news.bitcoin.com/cleanspark-adds-454-bitcoin-treasury-13924-btc/