CleanSpark Surpasses 20 EH/s in Bitcoin Mining Capacity

CleanSpark has achieved a significant milestone in its Bitcoin mining operations, surpassing 20 EH/s by the end of June. This increase is attributed to the successful acquisition and integration of five new mining facilities across Georgia, which added 60 MW of capacity. These facilities offer flexible power agreements that benefit both miners and utilities, aligning with CleanSpark's focus on energy efficiency and low-carbon operations.

The company's June update reveals that it mined 445 BTC during the month, bringing its 2024 total to 3,614 BTC. CleanSpark maintained a deployed fleet of 152,505 machines, achieving a fleet efficiency of 22.31 J/Th by the end of June. The average daily output was 14.83 BTC, with a peak of 22.41 BTC mined in a single day. The company sold just over 8 BTC in June at an average price of $67,514, indicating its strategy of holding most of its mined Bitcoin. By June 30, CleanSpark held a total of 6,591 BTC, reflecting its accumulation-focused approach despite market volatility.

The 60 MW infrastructure gained from the Georgia sites has already added 1.7 EH/s to CleanSpark’s capacity, with an additional 2 EH/s expected in July. These sites were acquired turnkey and are already contributing to the company’s total hashrate. The flexible power agreements also provide operational advantages during peak grid demand periods. Additionally, construction at CleanSpark’s Dalton campus has advanced, with concrete pours and transformer installations completed. This 15 MW expansion is expected to bring the site’s output to 2.4 EH/s once fully operational by September 2024.

In a strategic move, CleanSpark has signed a definitive agreement to acquire GRIID Infrastructure. While details remain under review, the deal signals CleanSpark’s intent to expand its footprint and asset base further. This acquisition could support its longer-term plans to scale operations toward the 50 EH/s target. CleanSpark’s CEO, Zach Bradford, highlighted the company’s operational momentum, emphasizing its focus on Bitcoin mining revenue. The company’s approach remains centered on expanding its mining capacity and improving operational efficiency, with a focus on building low-carbon infrastructure and strategic acquisitions.

With more capacity scheduled to go live in the coming months, CleanSpark appears committed to staying ahead in the competitive BTC mining space. The company's strategic acquisitions and focus on energy efficiency position it well for continued growth and success in the Bitcoin mining industry.