CleanSpark Announces 10% Increase in BTC Mined for May
CleanSpark's Bitcoin mining production increased by over 9% in May, resulting in a treasury of 12,502 BTC, which is double the amount from the previous year. The company mined 694 BTC in May, up from 633 in April, and achieved a hashrate of 45.6 exahash per second (EH/s), an increase from 42.4 EH/s in April. CleanSpark expanded its contracted power capacity to 987 MW. The company sold 293.5 BTC at an average price of $102,254, generating approximately $30 million in revenue. Despite a 62.5% increase in second-quarter revenue to $182 million, CleanSpark reported a net loss of $139 million. Competitors MARA and Riot Platforms also increased production, with MARA mining 950 BTC and Riot Platforms mining 514 BTC in May. CleanSpark's shares rose 12.4% over the past month, outperforming the Nasdaq.
