Key Takeaways
- CleanSpark mined 494 Bitcoin in July 2024, increasing its treasury by 567% from last year.
- The company has expanded its operations into Wyoming and Tennessee.
- CleanSpark's hashrate grew with a target of reaching 32 EH/s by year-end.
CleanSpark Inc. (Nasdaq: CLSK) released its Bitcoin mining update for July 2024, showcasing substantial progress and expansion in its operations. The company mined 494 Bitcoin during the month, boosting its Bitcoin treasury by 567% compared to the same period last year. The total Bitcoin mined in 2024 now stands at 4,108, with the company’s holdings reaching 7,082 Bitcoin.
Expansion into Wyoming and Tennessee
CleanSpark officially expanded into Wyoming and Tennessee. In Wyoming, the company secured power agreements totaling 75 MW and established its first Bitcoin mining site in the state. This site will be immersion-cooled and is expected to add approximately 2 EH/s to CleanSpark’s hashrate by the end of the year.
In Tennessee, CleanSpark began hashing under agreements with GRIID Infrastructure Inc., adding 1 EH/s of additional hashrate in July. The company now has access to 50 MW of power, with an additional 1.28 EH/s anticipated to be operational by the end of the week.
Performance Highlights
- Bitcoin Mined in July: 494
- Total Bitcoin Holdings (as of July 31): 7,082
- Bitcoin Sold in July: 2.54 at an average price of $62,070
- Deployed Fleet: 160,900 units
- Fleet Efficiency: 22.89 J/Th
- Operating Hashrate: 21.2 EH/s
The company’s average hashrate throughout July was 20.07 EH/s, leading to an average of 15.94 Bitcoin mined daily. The fleet’s efficiency varied slightly as the company adjusted operations to maximize production during advantageous times.
Upcoming Projects
The Dalton Expansion is progressing, with electrical primary installation underway. The East building is completed, while construction of the West building continues. The 15 MW expansion is expected to contribute approximately 0.9 EH/s by early September 2024.
About CleanSpark
CleanSpark Inc. is recognized as America’s Bitcoin Miner®, operating data centers powered by low-carbon energy sources. The company emphasizes transparency and trust within its operations and community engagements. For more information, visit CleanSpark’s website.
