Leopold Aschenbrenner ups CLSK position 648%

Leopold Aschenbrenner’s reported 648% increase in CleanSpark was not a fresh May 24 filing. The underlying disclosure was made on May 18, when his hedge fund, Situational Awareness LP, filed its Form 13F for the quarter ended March 31 with the U.S. Securities and Exchange Commission. A May 24 post on X recirculated the move and tied it to a broader bet on power infrastructure over semiconductor stocks. Situational Awareness LP’s SEC filing covers long U.S.-listed equity holdings as of March 31, not the manager’s full book or the prices paid after quarter-end. The filing date matters because social-media commentary on May 24 described the CleanSpark increase as part of “today” notes, but the public record for the position change is the May 18 13F. ### Where did the 648% figure come from? (sec.gov) The 648% figure refers to the change in Aschenbrenner’s CleanSpark position between reporting periods cited in coverage of the filing. Several market write-ups tied that increase to his first-quarter 2026 13F and grouped CleanSpark with other power- and infrastructure-linked holdings. Form 13F disclosures are backward-looking snapshots. The SEC says the report is a quarterly holdings filing by institutional managers, and the May 18 submission from Situational Awareness LP was for the period ended March 31, 2026. (sec.gov) ### Why would CleanSpark fit a power-infrastructure trade? CleanSpark has been describing itself to investors as more than a bitcoin miner. On its investor-relations site, the company says it controls “power, land, and data centers” across the United States, and in its May 11 quarterly release it called itself a “market-leading data center developer.” (forklog.com) Matt Schultz, CleanSpark’s chief executive, said on May 11 that the company had accelerated its “digital infrastructure evolution” across land and power development, leasing, financing and construction. (sec.gov) Schultz also said CleanSpark’s objective was to “commercialize our AI/HPC-applicable assets” while continuing to mine bitcoin. The same release said CleanSpark had doubled megawatts under contract year over year, including 585 megawatts of ERCOT-approved capacity, and had won ERCOT approval of 300 megawatts in Brazoria. (investors.cleanspark.com) Those details help explain why investors looking for AI-related power exposure have focused on the stock. ### What else did Aschenbrenner disclose around the same time? (nasdaq.com) Coverage of the May 18 filing said Aschenbrenner paired infrastructure longs with large bearish positions tied to semiconductor names and the VanEck Semiconductor ETF. Those reports described puts on SMH and Nvidia among the largest disclosed bearish positions in the filing. (nasdaq.com) That framing matches the May 24 social-media commentary that cast the CleanSpark increase as part of a rotation from first-order chip exposure toward power, land and compute infrastructure. The social post itself was commentary, but the existence of the 13F filing and the timing of the public disclosure are independently verifiable through the SEC. ### What does the filing not tell investors? A 13F does not show short positions directly, entry prices, option strikes, hedges outside the form or trades made after March 31. (tradingkey.com) The SEC filing identifies the manager, the reporting period and the information table, but it is not a real-time portfolio statement. CleanSpark’s next public event is scheduled for June 10 at the Macquarie AI Infrastructure Conference, according to the company’s May 11 earnings release. (forklog.com) The company also listed the Northland Growth Conference on June 23 as another upcoming appearance. (prnewswire.com) (sec.gov)