CleanSpark grew its Bitcoin treasury by approximately 6% from mining operations in February, the crypto miner said on March 5. 

During the month of February, CleanSpark mined a total of 624 Bitcoin BTCUSD, worth upward of $55 million at Bitcoin’s spot price of around $89,000 as of March 5, according to CleanSpark’s monthly report. 

The company sold 2.73 BTC in February at an average price of more than $95,000 per BTC. It added the rest to its corporate treasury, which holds a total of 11,177 BTC as of Feb. 28, the miner said. 

With holdings worth more than $1 billion, CleanSpark has amassed the world’s fifth-largest corporate BTC treasury, according to data from BitcoinTreasuries.NET. 

Miners are increasingly taking a page out of the Strategy — formerly MicroStrategy — playbook by holding more mined Bitcoin on their balance sheet. 

CleanSpark CEO Zach Bradford said the February results “demonstrated the value of our pure play Bitcoin mining strategy.”

Unlike rival Bitcoin miners, which are increasingly diversifying into adjacent revenue streams, such as selling high-performance compute for artificial intelligence models, CleanSpark is focused exclusively on Bitcoin mining.