Key Highlights:
- CleanSpark has successfully reached a significant milestone of 50 exahashes per second (EH/s), positioning itself among the largest bitcoin mining operations globally.
- Over 30 sites are operational across several U.S. states, leveraging a vertically-integrated structure to cut costs and enhance operational efficiency.
- The firm manages over 12,500 self-mined bitcoins aimed at fostering growth and boosting shareholder value without resorting to new share issuance.
CleanSpark, a U.S.-based bitcoin mining company, announced on Tuesday that it attained a hashrate of 50 EH/s, marking it as one of the most substantial mining operations in the world. The company has constructed and operates more than 30 facilities located in Georgia, Mississippi, Tennessee, and Wyoming.
Utilizing a vertically integrated approach allows CleanSpark to oversee energy procurement and operations, contributing to reduced costs and optimized uptime. CEO Zach Bradford remarked, “It reflects years of focused strategy, disciplined execution, and a relentless commitment to doing things the right way.”
Hashrate measures the computing strength behind the Bitcoin network; thus, a higher hashrate increases the probability of bitcoin rewards. The company is now geared up to enhance its hashrate to 60 EH/s, as Bradford highlights that they are in “escape velocity” mode.
Additionally, CleanSpark’s Digital Asset Management sector has initiated the management of over 12,500 self-mined bitcoins to produce returns and support business expansion without issuing additional shares. “We’re mining bitcoin efficiently, holding it responsibly, and putting it to work in ways that drive shareholder value,” Bradford added.
