Company mined 445 Bitcoin in June and continues expansion with new acquisitions and infrastructure developments
CleanSpark (CLSK), renowned as America’s Bitcoin Miner, has released its unaudited bitcoin mining and operations update for the month ending June 30, 2024. The company has not only met but exceeded its mid-year target of 20 exahashes per second (EH/s) in operational hashrate, thanks to strategic acquisitions and infrastructure enhancements.
Doubling Hashrate: A Major Achievement
CleanSpark’s achievement of surpassing 20 EH/s in operational hashrate marks a significant milestone, more than doubling its hashrate since December 2023. This rapid growth is attributed to the acquisition of five new bitcoin mining sites in Georgia, which added 60 MW of infrastructure. These sites come with interruptible-load designated power purchase agreements (PPAs) that offer load balancing capabilities, benefiting both utility providers and the power grid.
Zach Bradford, CEO of CleanSpark, expressed his enthusiasm about this achievement: “We reached a tremendous milestone on our path to 50 EH/s and beyond. Surpassing 20 EH/s in operational hashrate is more than double our hashrate from December. Doubling our hashrate takes grit and teamwork, and our growth is a testament to the dedication of our teams. While our peers are exploring other avenues of income, we’re laser-focused on delivering results and increasing our bitcoin mining hashrate and associated revenues.”
June Bitcoin Mining Update
In June 2024, CleanSpark mined a total of 445 bitcoins, bringing the year-to-date total to 3,614 bitcoins. As of June 30, the company’s total bitcoin holdings stood at 6,591. The company sold 8.06 bitcoins during the month at an average price of approximately $67,514 per bitcoin. Throughout June, the average hashrate was 17.85 EH/s, resulting in an average of 14.83 bitcoins mined daily, with a single-day high of 22.41 bitcoins.
The deployed fleet at the end of June consisted of 152,505 miners, with a month-end fleet efficiency of 22.31 joules per terahash (J/TH). The current operational hashrate is 20.4 EH/s, reflecting CleanSpark’s commitment to maximizing efficiency and productivity.
Strategic Growth and Expansion
CleanSpark’s growth strategy includes significant acquisitions and infrastructure developments. The company has executed a definitive agreement to acquire GRIID Infrastructure (Nasdaq: GRDI), which will further bolster its operational capabilities. Details of this acquisition can be found in the company’s SEC filings.
In addition, CleanSpark has closed the acquisition of five turnkey sites in Georgia, providing 60 MW of immediately available data center infrastructure. Once fully deployed, these sites will add a total of 3.7 EH/s to the company’s hashrate. As of June 30, approximately 1.7 EH/s have been deployed, with additional hashrate expected to come online in July.
Moreover, CleanSpark is expanding its Dalton campus. Concrete pours for the building slabs have been completed, and transformers have been set. This 15 MW expansion, expected to be completed by September 2024, will enable the Dalton campus, which consists of four independent data centers, to operate at 2.4 EH/s.
CleanSpark’s impressive progress in the first half of 2024 highlights its commitment to being a leading player in the bitcoin mining industry. By focusing on enhancing its operational hashrate and expanding its infrastructure, CleanSpark is well-positioned to capitalize on future opportunities in the rapidly evolving cryptocurrency landscape.
As CleanSpark continues to grow and innovate, it remains dedicated to achieving its long-term goals and delivering value to its stakeholders. The company’s strategic acquisitions and infrastructure improvements are set to drive further success and cement its position as a dominant force in the bitcoin mining industry.
Read original press release:here
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