CleanSpark mines 445 BTC in June, exceeds 20 EH/s target with Georgia expansion CleanSpark mines 445 BTC in June, exceeds 20 EH/s target with Georgia expansion
The company has doubled its hashrate to 20 EH/s since December.
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Updated: Jul. 3, 2024 at 1:14 am UTC
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CleanSpark mined 445 Bitcoin (BTC) in June and grew its hash rate above 20 EH/s on the back of its recent expansion in Georgia.
The mining firm’s June performance results, published On July 2, also described an average daily output of 14.83 BTC and a one-day high of 22.41 BTC.
The company mined 3,614 BTC in 2024 to date.
It held 6,591 BTC as of June 30 and sold 8.06 BTC in June for $67,514.
Georgia expansion
CleanSpark recorded an average daily hash rate of 17.85 EH/s during June, and its current hash rate is 20.4 EH/s — surpassing its mid-year target of 20 EH/s.
CleanSpark CEO Zach Bradford said the 20.4 EH/s rate is twice the amount recorded in December 2023 and a “tremendous milestone on [the] path to 50 EH/s and beyond.”
The firm attributed its rising hash rate to acquiring five new Bitcoin mining sites in Georgia, adding 60 megawatts (MW) of infrastructure. The Georgia sites immediately added 1.7 EH/s of hash rate and will add another 3.7 EH/s of hash rate in total once fully deployed in July.
The company is also pursuing expansion through a new Dalton campus, which includes 15 MW of infrastructure at four independent data centers projected to operate at 2.4 EH/s. CleanSpark expects the Dalton expansion to be complete by September.
CleanSpark recently announced an agreement to acquire rival mining company GRIID Infrastructure for $155 million and described expansion plans above 400 MW in Tenessee.
Past months’ performance
CleanSpark’s monthly Bitcoin output exceeds its 417 BTC production in May but not its 721 BTC production in April. Previously, the company noted that May marked the first entire month of production following Bitcoin’s halving, which reduced block rewards by half.
In December 2023 and January 2024, the firm reported an approximate hash rate of 10 EH/s but increased its hash rate to 16 EH/s and above starting in February.
CleanSpark exceeded a hash rate of 17 EH/s starting in April.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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CleanSpark
CleanSpark (NASDAQ: CLSK) is a sustainable bitcoin mining and energy technology company that is incorporated in Nevada.