CleanSpark increased its hashrate forecast

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Ultramining.com

13:10 Oct 26, 2022

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CleanSpark increased its hashrate forecast

The company at first planned 5 EH/s by the end of this year. However, the forecast was adjusted to 5.5 EH/s. It allowed CleanSpark securities to outperform its competitors.

The BTC rally, when the critical mark of $20k per coin was crossed for many, helped the miner's shares grow by 19%. Zach Bradforth, CEO of CleanSpark, noted:

We couldn't be more pleased with the high level of operational excellence that led to the hash rate growth in conjunction with the opening of new data centers in Washington, DC, and Sandersville.

CleanSpark was able to take advantage of the situation in the market and start acquiring assets amid a bearish trend at a low cost. For example, a Mawson Infrastructure Group mining facility was purchased, as well as 10,000 Antminer S19j.

According to the CFO:

Proper adherence to the capital strategy has helped exceed hashrate projections.

At the moment, the company has four of its sites with 50,000 pieces of mining equipment. By the end of next year, the company plans to reach 22.4 EH/s.


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