CleanSpark Reaches a Hashrate of 50 EH/s, Mines 685 BTC in June
CleanSpark's Bitcoin output increased over 50% year-over-year, with an operational hashrate of 50 EH/s in June, up from 20.4 EH/s a year prior, marking a 145.1% rise in mining capacity. In June, the company mined 685 BTC valued at $74.2 million, compared to 445 BTC in June 2024. CleanSpark sold 578 BTC in June, maintaining Bitcoin holdings of 12,608 BTC, ranking seventh among publicly traded companies. Only MARA Holdings and Riot Platforms hold more BTC. CleanSpark's stock fell 8% amid broader market declines, influenced by trade deal discussions. Bitcoin mining difficulty reached an all-time high of 126.9 trillion in May, increasing operational costs for miners. Since February 2024, CleanSpark expanded operations in Georgia, Mississippi, Wyoming, and Tennessee and purchased 26,000 Bitmain immersion mining rigs for $168 million in August 2024.
