Bitcoin mining company CleanSpark has reported a successful June, exceeding both its production and hash rate goals. They mined 445 Bitcoin in June, a 6.7% increase compared to the previous month.
This uptick comes alongside surpassing their mid-year target for operational hash rate, achieving a new high of 20.4 exahashes per second (EH/s). This marks a significant milestone, doubling their hash rate since December 2023.
The surge in hash rate is attributed to CleanSpark‘s recent expansion in Georgia, USA. They acquired five new Bitcoin mining facilities, adding 60 megawatts (MW) of infrastructure. These sites immediately contributed 1.7 EH/s to their hash rate, with an additional 3.7 EH/s expected upon full deployment in July.
CleanSpark took a strategic approach to Bitcoin sales in June, selling only 8 of the 445 mined. This bolsters their Bitcoin holdings to a total of 6,591 BTC, valued at over $4 billion at current market prices.
The company’s CEO, Zach Bradford, expressed optimism about their future, highlighting their focus on expanding mining capacity and increasing Bitcoin-related revenue. This achievement positions CleanSpark as the third-largest Bitcoin miner by hash rate, following Marathon Digital and Core Scientific.
CleanSpark’s success story underscores the growing importance of strategic expansion and resource management in the competitive Bitcoin mining landscape. Their focus on acquiring sustainable power sources aligns with a trend toward environmentally conscious mining practices.
However, the environmental impact of Bitcoin mining remains a topic of debate. As the industry continues to evolve, balancing growth with responsible practices will be crucial for its long-term viability.
