CleanSpark mined 445 bitcoins last month, up from 417 bitcoins mined in May. The Bitcoin miner said it had surpassed its annual target of 20 exahashes per second (EH/s) in operational hashrate. Acquisition of 5 new Bitcoin mining sites In Georgia.
The company sold 8.06 bitcoins in June, at an average price of about $67,514 per bitcoin. press release. The average hash rate for the month was 17.85 EH/s.
“Hash rate surpassing 20 EH/s is more than double our December hash rate,” said CEO Zach Bradford. “While our peers are exploring other revenue streams, we are focused on delivering results and increasing our Bitcoin mining hash rate and associated revenue. We are maximizing efficiency at our existing sites and looking forward to future opportunities in Wyoming and Tennessee.”
The 445 mined is a relatively small decrease from the 491 bitcoins mined in the same period last year, and is not a large decrease considering the Bitcoin halving that occurred in April. The halving occurs every four years and reduces the reward given to miners who verify transactions on the Bitcoin network by 50%.
CleanSpark had a busy month in June. In addition to the aforementioned Georgia-based acquisition, the company GRIID Infrastructure PurchaseIt has also closed a $155 million deal with another Bitcoin mining company.
CleanSpark’s operating power is expected to reach 100 megawatts by the end of the year. The company has mined 3,614 bitcoins so far this year and holds 6,591 bitcoins as of June 30.
Cleanspark’s According to The Block’s Bitcoin price page, the stock (CLSK) was trading down 3.8% at press time, as the Bitcoin price was down 2.2% over the last 24 hours.
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About the Author
Jason is the U.S. News Editor for The Block. He previously worked as a staff writer and later as an editor at Benzinga, a financial news and data company. He led Benzinga’s daily market coverage and the publication’s expansion into cannabis, cryptocurrency, and sports betting verticals. He holds a bachelor’s degree in journalism from Central Michigan University and lives in the suburbs of Detroit, Michigan. Follow him on X @JasonShubnell.