Bitcoin Miners Diverge: CleanSpark Amasses $1.6B in BTC as Rival Riot Sells – Why?

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cash flow.CleanSpark, listed on Nasdaq under CLSK, reported holding 13,011 Bitcoin at the end of September 2025, worth roughly $1.6 billion at prevailing market prices.The company produced 629 Bitcoin during the month, with an average daily output of 20.95 BTC, and sold 445 coins for $48.7 million at an average price of $109,568.CleanSpark’s self-mined reserves, accumulated through years of expansion, now represent one of the largest corporate treasuries in the industry.Operationally, the miner closed the month with a deployed fleet of 241,934 machines, achieving a peak operational hashrate of 50 exahashes per second (EH/s).The average hashrate during the month was 45.6 EH/s, with fleet efficiency reaching 16.07 joules per terahash (J/TH). CleanSpark has also expanded its power portfolio, securing 1.03 gigawatts under contract and utilizing 808 megawatts in September.The company pointed out several milestones in fiscal 2025, including its acquisitions of GRIID Infrastructure, which brought new Tennessee-based mining sites and access to TVA-backed power development.It also executed major financing moves, such as a $650 million convertible note offering and the expansion of its Bitcoin-backed credit facilities to $400 million.CleanSpark’s leadership team, led by Chief Executive Officer Matt Schultz, has also launched a digital asset management strategy that uses derivatives to optimize treasury performance and manage volatility.While CleanSpark is growing its holdings, Riot Platforms is moving in the opposite direction. The Texas-based miner produced 445 Bitcoin in September, down 7% from August but 8% higher year-over-year.Riot Platforms sold 465 Bitcoin during the month, generating $52.6 million in net proceeds at an average price of $113,043.By month-end, the company held 19,287 Bitcoin, including 3,300 classified as restricted. This represented an 85% increase from September 2024, though the company’s approach has been to actively monetize a portion of its production.Riot’s hashrate reached 36.5 EH/s at the end of September, with an average operating rate of 32.2 EH/s. The company reported fleet efficiency of 20.5 J/TH, a 12% improvement compared with last year.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,715.79 +0.44 (+0.01%)Dow 3046,758.28 +238.56 (+0.51%)Nasdaq22,780.51 -63.54 (-0.28%)Russell 20002,476.18 +17.69 (+0.72%)VIX16.65 +0.02 (+0.12%)Gold3,908.90 +40.80 (+1.05%)PortfolioSign in to access your portfolioSign inTop gainersMFH Mercurity Fintech Holding Inc. 29.41 +7.80 (+36.09%)LAC Lithium Americas Corp. 9.04 +2.18 (+31.78%)QUBT Quantum Computing Inc. 24.62 +4.64 (+23.22%)RUM Rumble Inc. 8.56 +1.17 (+15.83%)USAR USA Rare Earth, Inc. 25.96 +3.25 (+14.31%)Top losersHIMS Hims & Hers Health, Inc. 52.54 -5.33 (-9.21%)RBLX Roblox Corporation 122.69 -10.81 (-8.10%)MENS Jyong Biotech Ltd. 48.00 -4.00 (-7.69%)PLTR Palantir Technologies Inc. 173.07 -13.98 (-7.47%)LVS Las Vegas Sands Corp. 50.97 -4.08 (-7.41%)Most activePLUG Plug Power Inc. 3.8100 +0.9800 (+34.63%)OPEN Opendoor Technologies Inc. 8.11 +0.10 (+1.25%)LAC Lithium Americas Corp. 9.04 +2.18 (+31.78%)SNAP Snap Inc. 8.54 +0.32 (+3.89%)RGTI Rigetti Computing, Inc. 40.06 +4.66 (+13.16%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 123,229.63 +1,376.48 (+1.13%)PFF iShares Preferred and Income Securities ETF 31.76 +0.03 (+0.09%)ETH-USD Ethereum USD 4,512.92 +31.44 (+0.70%)XRP-USD XRP USD 2.97 -0.05 (-1.70%)LUMN Lumen Technologies, Inc. 6.56 +0.18 (+2.82%)Top economic events