CleanSpark Reports Strong Bitcoin Mining Progress and Operational Advancements

CleanSpark, Inc. (Nasdaq: CLSK), known as America’s Bitcoin Miner™, has provided an unaudited bitcoin mining and operations update for the month ending June 30, 2023. The update showcases significant progress in bitcoin mining and the company’s expansion plans.

Zach Bradford, CEO of CleanSpark, expressed satisfaction with the company’s performance during the quarter, stating, “We made substantial progress growing our bitcoin holdings this quarter, while continuing to advance our growth plans.” He emphasized that the quarter was marked by execution, with the Washington expansion expected to go live soon and the newly acquired facilities in Dalton, Georgia, set to be fully operational this month. Bradford highlighted these achievements as important steps in building top-tier bitcoin infrastructure in North America.

Here are the key highlights from CleanSpark’s June Bitcoin Mining Update:

1. Bitcoin Mining:

• Bitcoin mined in June: 491
• Total bitcoin mined in CY2023: 3,495
• Total BTC holdings as of June 30: 529

2. BTC Conversion and Sales:

• BTC converted for operations and growth in June: 413
• The company sold 413 bitcoins in June at an average price of approximately $27,200 per BTC, generating proceeds of approximately $11.2 million.
• Average daily BTC mined in June: 16.4, with a peak of 17.4.

3. Mining Operations:

• Currently deployed fleet: CleanSpark operates approximately 68,678 latest-generation bitcoin miners with a total hashrate of 6.7 EH/s.

CleanSpark also provided operational updates on its expansion plans:

1. Dalton, Georgia:

• CleanSpark’s newly acquired campus in Dalton, Georgia, started hashing shortly after the acquisition announcement in late June.
• Approximately 1,500 machines are currently online, with an additional 4,500 machines expected to become operational in the coming weeks.

2. Washington:

• The 50MW expansion in Washington is anticipated to be energized by the end of the week.
• Over 14,000 machines have been racked and are ready to start hashing.

3. Sandersville:

• Progress is being made in prepping the land for CleanSpark’s ambitious expansion in Sandersville, which aims to add over 6 EH/s to the company’s mining operations.

CleanSpark’s bitcoin mining progress and operational advancements position the company for continued growth in the rapidly evolving cryptocurrency market. With the expansion of facilities in Dalton, Georgia, and Washington, along with the ambitious expansion plans in Sandersville, CleanSpark is solidifying its position as a leading player in the North American bitcoin mining infrastructure sector.

News Desk