In its latest update, CleanSpark, Inc. reported mining 668 bitcoins in December 2024, totaling 7,024 for the year. The company has achieved 287.9% hashrate growth and 33.3% efficiency improvement year-over-year. With an operational hashrate of 39.1 EH/s and strategic expansions into new states, CleanSpark solidifies its leadership in the Bitcoin mining sector as it shifts towards reaching 50 EH/s by mid-2025.
CleanSpark, Inc., known as America’s Bitcoin Miner®, has made significant strides in its operations, mining 668 bitcoins in December and achieving a total of 7,024 bitcoins for 2024. The company reported an impressive 287.9% growth in hashrate and a 33.3% improvement in efficiency year-over-year, reflecting its strong position in the competitive landscape of Bitcoin mining. CleanSpark’s operational hashrate surged to 39.1 EH/s by December’s end, showcasing remarkable fleet performance and efficiency.
According to Zach Bradford, CleanSpark’s CEO, “2024 marked a transformative year for CleanSpark, where we achieved true escape velocity in our industry.” With an expansive footprint now in Mississippi, Tennessee, and Wyoming, the company has not only widened its geographic reach but also optimized its resources, including a fleet efficiency rating of under 17.6 J/Th. The successful closure of a $650 million zero-coupon convertible bond supports its ambitious target of reaching 50 EH/s by mid-2025.
The December operations spotlight revealed an average hashrate of 35.52 EH/s, allowing CleanSpark to mine on average 21.56 bitcoins a day, peaking at 22.46 on a single day. In terms of sales, the company sold 12.65 bitcoins in December, capitalizing on favorable pricing that averaged around $101,246 per bitcoin. This highlights their strategic movements amidst a volatile market.
Looking ahead, with facilities in Clinton, Jackson, and Cheyenne now operational or nearing completion, CleanSpark’s infrastructure continues to evolve. Facilities in Clinton operate with approximately 1 EH/s, while broader initiatives in Jackson and Cheyenne aim to significantly bolster hashrate contributions. CleanSpark’s vision solidifies as it harnesses low-cost power and strives for operational excellence.
As a market leader in Bitcoin mining, CleanSpark exemplifies a mix of innovation and efficiency, vital for navigating the rapidly evolving industry landscape. With past successes paving the way, the company is positioned to leverage future opportunities, ensuring robust returns for its shareholders and a bright horizon for the Bitcoin mining sector.
The landscape of Bitcoin mining is increasingly competitive, with companies striving for greater efficiency and output in a rapidly developing industry. CleanSpark, Inc. stands out by focusing on strategic geographical expansion and technological advancements, crucial for maximizing operational performance. The context of Bitcoin’s price fluctuations and the need for efficient energy usage are essential for companies operating in this space, as profitability hinges on these factors. CleanSpark’s recent achievements and future objectives reflect a broader trend of prioritizing sustainability and innovation within the cryptocurrency mining sector.
CleanSpark, Inc. has established itself as a formidable player in the Bitcoin mining sector, achieving remarkable production rates and efficiency improvements throughout 2024. With a strategic expansion plan and significant investments, the company is well-prepared to meet ambitious future targets. As it aims for even higher hashrate targets by mid-2025, CleanSpark exemplifies the potential for growth and innovation in the cryptocurrency mining industry, promising robust returns for its investors.
Original Source: www.prnewswire.com
