CleanSpark Surpasses Mid-Year Target, Doubles Hashrate and Mines 445 Bitcoin in June

CleanSpark Inc. has reported a notable increase in its Bitcoin production for June, mining 445 Bitcoins and surpassing its mid-year target with an operational hashrate now exceeding 20 exahashes per second (EH/s). This achievement marks a doubling of the company’s hashrate since December 2023.

Strategic Acquisitions Fuel Growth

The key to this milestone has been CleanSpark’s strategic acquisition of five new Bitcoin mining sites in Georgia. These sites contribute a substantial 60 megawatts (MW) of infrastructure, including power purchase agreements with load balancing capabilities.

CEO Highlights Team Effort

“We reached a tremendous milestone on our path to 50 EH/s and beyond,” said CleanSpark CEO Zach Bradford. “Doubling our hashrate takes grit and teamwork, and our growth is a testament to the dedication of our teams. While our peers explore other avenues of income, we’re focused on increasing our Bitcoin mining hashrate and associated revenues.”

GRIID Acquisition Enhances Capabilities

In June, CleanSpark acquired GRIID Infrastructure Inc. in a $155 million all-stock transaction. This merger enhances CleanSpark’s capabilities with a hosting agreement that allocates 20 MW to the company, boosting its operational capacity. GRIID operates an R&D center in Texas and an equipment repair center in Tennessee.

Future Expansion Plans

CleanSpark is focused on maximizing efficiency at current sites while exploring new opportunities in Wyoming and Tennessee. The acquisition of the new Georgia sites has been pivotal in exceeding hashrate targets and increasing Bitcoin production, positioning CleanSpark for significant growth in the industry.