Why One Investor Trimmed CleanSpark Despite a 62% One-Year Gain
Key Points
Fort Point Capital Partners sold 400,000 CleanSpark shares in the first quarter; the estimated transaction value was $4.28 million based on quarterly average prices.
The quarter-end value of the CleanSpark position declined by $8.08 million, reflecting both share sales and stock price movement.
The trade represented 0.52% of the fund’s 13F reportable assets under management (AUM).
After the sale, the fund held 709,052 CleanSpark shares valued at $6.03 million.
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On May 14, 2026, Fort Point Capital Partners disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 400,000 shares of CleanSpark (NASDAQ:CLSK) in the first quarter, an estimated $4.28 million transaction based on quarterly average pricing.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated May 14, 2026, Fort Point Capital Partners reduced its stake in CleanSpark by 400,000 shares during the first quarter. The estimated transaction value is $4.28 million, calculated using the average unadjusted closing price for the quarter. The quarter-end value of the CleanSpark position decreased by $8.08 million, a figure that includes both the impact of share sales and price movement during the period.
What else to know
- Top holdings after the filing include:
- NYSEMKT:SPY: $64.81 million (8.5% of AUM)
- NYSEMKT:AGG: $47.49 million (6.2% of AUM)
- NYSEMKT:VOO: $46.91 million (6.2% of AUM)
- NYSEMKT:IEFA: $38.46 million (5.0% of AUM)
- NYSEMKT:VTEB: $37.48 million (4.9% of AUM)
- As of Friday, CleanSpark shares were priced at $15.97, up 62% over the past year and well outperforming the S&P 500, which is instead up about 28% in the same period. However, shares actually fell about 18% last quarter and have since surged nearly 90%.
Company overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $15.97 |
| Market Capitalization | $4.1 billion |
| Revenue (TTM) | $739.88 million |
| Net Income (TTM) | ($500.59 million) |
Company snapshot
- CleakSpark offers bitcoin mining services and energy technology solutions, including microgrid engineering, energy management software, and distributed energy systems.
- The firm generates revenue primarily through digital currency mining and the sale of energy solutions and related services for commercial, military, and residential customers.
- It serves institutional clients, grid operators, energy aggregators, and organizations seeking advanced energy management or cryptocurrency exposure.
CleanSpark operates at the intersection of digital currency mining and advanced energy technology, leveraging proprietary platforms to optimize both bitcoin production and distributed energy systems. The company’s dual-segment strategy enables it to capture value from the rapidly evolving cryptocurrency market while providing scalable solutions for energy management and microgrid deployment. With operations anchored in the United States and a focus on innovation, CleanSpark aims to maintain a competitive edge through technology integration and diversified revenue streams.
What this transaction means for investors
With this sale, it's important to note that Fort Point still held a position after the quarter, and the trim came during a period when CleanSpark shares had pulled back roughly 18%, long before the stock's nearly 90% rebound since March 31.
The bigger story is that CleanSpark is increasingly trying to become more than a bitcoin miner. Earlier this month, CEO Matt Schultz said the company is accelerating its "digital infrastructure evolution" through land, power, financing, and construction initiatives, with a focus on commercializing assets that could support AI and high-performance computing workloads.
Meanwhile, the latest results were mixed. Quarterly revenue fell 25% year over year to $136.4 million, while the company posted a net loss of $378.3 million. However, CleanSpark ended March with $260 million in cash, $925 million in bitcoin holdings, and total current assets of $1.1 billion. Management also highlighted that megawatts under contract doubled year over year and average monthly hashrate increased 18%.
For long-term investors, the key question is whether CleanSpark can successfully monetize its growing power and infrastructure footprint beyond bitcoin mining. If the AI data center opportunity develops as management hopes, today's valuation may ultimately depend less on bitcoin prices and more on the company's ability to turn energy assets into durable compute revenue.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.
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