CleanSpark Exceeds 20 EH/s with June Bitcoin Mining Update

CleanSpark's June update highlights surpassing 20 EH/s in operational hashrate, doubling since December, with significant infrastructure acquisitions and expansions.
CleanSpark Exceeds 20 EH/s with June Bitcoin Mining Update
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Key Takeaways:

Key Takeaways

  • CleanSpark has partnered with FCF Pay to allow car purchases using Bitcoin.
  • CleanSpark is not the first Japanese motor company to accept Bitcoin.
  • SBI Motors began accepting Bitcoin back in May of 2022.

CleanSpark Inc. (Nasdaq: CLSK) reported a significant milestone in its June 2024 bitcoin mining update, achieving and surpassing a 20 EH/s operational hashrate. This achievement follows the acquisition of five new mining sites in Georgia, contributing to a 60 MW infrastructure with unique power purchase agreements (PPAs) for load balancing.

CEO Zach Bradford said:

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

This progress underscores the company’s focus on enhancing efficiency and expanding operations.

In June, CleanSpark mined 445 bitcoin, bringing the total for 2024 to 3,614. The company sold 8.06 bitcoin at an average price of $67,514 each. Their deployed fleet of 152,505 miners achieved a month-end efficiency of 22.31 J/TH.

The June average hashrate was 17.85 EH/s, with a daily mining average of 14.83 bitcoin and a peak of 22.41 bitcoin in a single day.

The company also closed the acquisition of five turnkey sites in Georgia, adding 3.7 EH/s of hashrate, with 1.7 EH/s already online by June 30. Expansion at the Dalton campus is ongoing, with a 15 MW project expected to add 2.4 EH/s by September 2024.

CleanSpark’s strategic growth continues with the anticipated acquisition of GRIID Infrastructure, as detailed in their SEC filings.

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