CleanSpark Doubles Operating Hashrate Mines 445 Bitcoin in June

CleanSpark Achieves Remarkable Growth in Bitcoin Mining with 445 Bitcoins Mined in June
CleanSpark Inc., a prominent Bitcoin miner, has reported a significant increase in its Bitcoin production for the month of June, successfully mining a total of 445 Bitcoins.
The company has surpassed its operational hashrate target for the first half of the year, now exceeding 20 exahashes per second (EH/s). This achievement represents a doubling of CleanSpark’s hashrate since December 2023.
Strategic Acquisition in Georgia Drives Success
CleanSpark attributes the accomplishment of its mid-year target to the strategic acquisition of five new Bitcoin mining sites in Georgia. These sites have added a substantial 60 megawatts (MW) of infrastructure, including power purchase agreements (PPAs) with load balancing capabilities.
CEO Credits Grit and Teamwork for Growth
Zach Bradford, CEO of CleanSpark, expressed pride in the company’s achievement, stating, “We have reached a significant milestone on our journey towards 50 EH/s and beyond. Surpassing 20 EH/s in operational hashrate represents a doubling of our capacity since December.”
Bradford emphasized the importance of grit and teamwork in achieving this milestone, highlighting the dedication of CleanSpark’s teams. While many competitors are diversifying their revenue streams, CleanSpark remains focused on enhancing its Bitcoin mining operations and associated revenues.
Strategic Merger with GRIID Infrastructure Inc.
In a strategic move, CleanSpark recently entered into a merger agreement with GRIID Infrastructure Inc., completing an all-stock transaction valued at $155 million. This merger will enhance CleanSpark’s capabilities through a hosting agreement provided by GRIID, with an immediate allocation of 20 megawatts to increase operational capacity.
CleanSpark’s forward-looking strategy includes maximizing efficiency at existing sites while exploring opportunities in new locations such as Wyoming and Tennessee. The acquisition of the Georgia mining sites, with their 60 MW infrastructure and interruptible-load PPAs, has been a game-changer for CleanSpark, enabling the company to exceed its hashrate targets and boost Bitcoin production.
Expanding Footprint and Positioning for Growth
CleanSpark is focused on expanding its operations to states like Wyoming and Tennessee, leveraging its doubled hashrate since December 2023 to position itself for growth in the competitive Bitcoin mining industry. By maintaining a laser focus on efficiency and output, CleanSpark is poised for continued success in the evolving cryptocurrency landscape.