CleanSpark Boosts Bitcoin Mining by 9% in May

In May 2025, CleanSpark increased Bitcoin production by 9%, raised hashrate to 45.6 EH/s, and expanded power capacity to 987 MW.

Bitcoin production continues to climb

U.S. Bitcoin mining company CleanSpark reported a 9.4% increase in Bitcoin production for May 2025. The firm mined 694 BTC compared to 633 BTC in April. Additionally, its hashrate grew from 42.4 to 45.6 EH/s, marking a 7.5% month-over-month increase.

“May was a strong execution month for CleanSpark,” CEO and president Zach Bradford said. “We continued to grow our hashrate while improving fleet efficiency.”

By the end of May, CleanSpark’s Bitcoin treasury reached 12,502 BTC, doubling year-over-year. Notably, this reserve growth has occurred without any equity issuance since November 2024.

Financial performance and Bitcoin sales

In May, CleanSpark sold 293.5 BTC at an average price of $102,254 per coin, generating approximately $30 million in revenue. For Q2 2024, the company reported $182 million in revenue, up 62.5% from the previous year, though it posted a net loss of $139 million.

Following the May operations update, CleanSpark shares rose 6.5% on June 3. Over the past month, the stock has climbed 12.4%, outperforming the Nasdaq index.

Competition among miners intensifies

Other miners also reported gains in May. MARA boosted production by 34.8%, mining 950 BTC compared to 705 BTC in April. Riot Platforms increased production by 11%, mining 514 BTC versus 463 BTC the prior month.

Like CleanSpark, MARA and Riot have seen their shares rise. MARA gained 8%, while Riot climbed 6.5%.