Key Takeaways
- CleanSpark mined 685 BTC in June, boosting its hashrate by 145% year-over-year.
- The company now holds 12,608 BTC, ranking seventh among public companies by bitcoin holdings.
- CleanSpark’s stock fell 8% as rising mining difficulty and operational costs pressure the industry.
CleanSpark reported a significant increase in its bitcoin mining activity for June 2024, mining 685 BTC worth approximately $74.2 million at current prices.
This marks a 50% year-over-year rise in bitcoin output, despite ongoing challenges from the most recent halving event.
50 EH/s
The company achieved an operational hashrate of 50 exa hash per second (EH/s) in June, up 145.1% from 20.4 EH/s the previous year.
According to CleanSpark CEO and president Zach Bradford:
“The tireless efforts of our operations and technology teams resulted in the addition of over 10 EH/s of capacity across four states to achieve the ambitious target. This represents a 9.6% month-over-month increase.”
Holdings
CleanSpark sold 578 BTC in June, retaining 12,608 BTC in its treasury—an increase from 12,502 BTC in May.
This places CleanSpark seventh among public companies by bitcoin holdings, behind major miners like Marathon Digital and Riot Platforms.
For a full breakdown, see the bitcoin mining company holdings dashboard.
Corporate adoption
Bradford highlighted a broader trend in corporate adoption:
“Corporations around the globe are embracing the value of a Bitcoin-enhanced balance sheet. In fact, corporate Bitcoin acquisitions have outpaced ETF net inflows for the third consecutive quarter.”
Stock falls
Despite these achievements, CleanSpark’s stock price fell 8% on the day of the update, in line with a broader Nasdaq decline.
Difficulty
Meanwhile, bitcoin mining difficulty has reached record highs, increasing operational challenges for miners.
Since February 2024, CleanSpark has expanded its operations into Georgia, Mississippi, Wyoming, and Tennessee, and recently acquired 26,000 Bitmain immersion mining rigs in a $168 million deal.
