The U.S.-based mining company held a total of 6,591 Bitcoins (BTC) as of June 30th, equivalent to over $4 billion at the current market price. Looking ahead, the company aims to achieve a hashrate milestone of 50 EH/s.
CleanSpark, a Bitcoin mining firm, successfully increased its Bitcoin production by 6.7% in June, surpassing the mid-year hashrate target of 20 EH/s. Out of the 445 BTC mined in June, only 8 bitcoins were sold.
CEO Zach Bradford of CleanSpark announced on July 2nd that the company’s hashrate had doubled since December 2023, reaching 20.4 EH/s. Following the acquisition of five new facilities in Georgia, USA, CleanSpark installed an additional 1.7 EH/s of mining capacity, allowing them to meet their mid-year hashrate goal of 20 EH/s.
Hashrate signifies the total processing power utilized by the Bitcoin network to validate transactions. With the completion of operations at the five Georgia sites, an additional 2 EH/s is expected to be added to CleanSpark’s hashrate.
CleanSpark joins Marathon Digital and Core Scientific in achieving significant hashrate milestones, with CleanSpark looking forward to hitting the 50 EH/s mark. Other major Bitcoin miners like TeraWulf, Hut 8 Corp, and Northern Data AG have diversified into AI and cloud computing, seeking to expand their revenue streams.
In a notable announcement on June 27, CleanSpark and GRIID Infrastructure unveiled a merger deal worth $155 million. CleanSpark assumed GRIID’s debts and acquired all outstanding common stock. As part of the merger, CleanSpark also gained an additional 20 MW of power capacity.
In other cryptocurrency news today, scammers managed to siphon off $240,000 worth of NFTs on the Blur Marketplace.
