CleanSpark Boosts Bitcoin Treasury by 567% with Record July Mining Performance
CleanSpark Inc. (Nasdaq: CLSK), released its Bitcoin mining and operations update for July 2024, showcasing significant advancements in production and expansion efforts. In an impressive feat, CleanSpark mined 494 Bitcoins throughout the month, boosting its Bitcoin treasury by a staggering 567% compared to the same period last year. This strategic growth positions CleanSpark as a leading force in the Bitcoin mining industry.
CleanSpark CEO Zach Bradford announced the company’s latest achievements, highlighting their expansion into two new states. “We’ve made significant progress in Wyoming and Tennessee this month,” Bradford stated. “With power agreements totaling 75 MW in Wyoming and the launch of our first Bitcoin mining site in the state, along with a 1 EH/s increase in our Tennessee operations, we are well on our way to reaching our target of 32 EH/s by the end of the year.” according to Cleanspark.
As of July 31, CleanSpark’s Bitcoin holdings reached 7,082, with a total of 4,108 Bitcoins mined in 2024. The company sold 2.54 Bitcoins in July at an average price of $62,070 per Bitcoin. CleanSpark’s deployed fleet now consists of 160,900 miners, operating at a fleet efficiency of 22.89 J/Th. The company’s month-end operating hashrate stood at 21.2 EH/s, achieving an average of 15.94 Bitcoins mined daily, with a peak of 16.55 Bitcoins in a single day.
The expansion into Wyoming marked a significant milestone, with power agreements for 75 MW executed and the company’s first Bitcoin mining site in the state. This initial 30 MW site will feature immersion cooling technology, contributing approximately 2 EH/s to CleanSpark’s hashrate before year-end. CleanSpark plans to finalize the acquisition of a second site in Wyoming in the coming weeks, further solidifying its position in the region.
In Tennessee, CleanSpark initiated operations under its co-location agreements with GRIID infrastructure Inc. Approximately 50 MW of power is now available, with 1.0 EH/s operational by the end of July. An additional 1.28 EH/s is expected to come online by the end of the week, further enhancing CleanSpark’s capacity in the state.
The Dalton expansion also continues to progress, with electrical primary installation underway and significant advancements in both the East and West buildings. The 15 MW expansion is anticipated to be operational by early September 2024, adding approximately 0.9 EH/s to CleanSpark’s growing hashrate.
