As a seasoned analyst with years of experience under my belt, I must say that CleanSpark’s recent unaudited Bitcoin mining update is nothing short of impressive. The 187% increase in hashrate over the fiscal year ending September 2024 speaks volumes about the company’s resilience and strategic prowess.
cleanSparK recently disclosed an unconfirmed Bitcoin mining report, indicating a significant increase of 187% in their hashrate during the financial year that concluded in September 2024.
On October 3, the Bitcoin miner that is traded publicly disclosed a notable expansion in various areas, including its Bitcoin reserves and stock prices, as well as other key indicators.
cleanSpark recently released an unverified financial statement, as the cryptocurrency market grappled with challenges arising from geopolitical developments in the Middle East.
CleanSpark’s hashrate increase
Over the last twelve months, CEO Zach Bradford announced that CleanSpark had experienced significant natural expansion. Moreover, the company managed to endure the effects of Hurricane Helene in the recent past, which further boosted its list of triumphantly overcome obstacles.
By September 30, 2024, CleanSpark’s total hashrate had significantly grown from 9.6 exahashes per second to a massive 27.6 EH/s. This represents a substantial growth of approximately 187%. Moreover, an additional 5 EH/s was added to its mining operations in September itself.
The CEO of CleanSpark stated that our growth initiatives are moving full steam ahead. We’re currently deploying miners at newly acquired locations and our current sites, all part of our strategy to modernize our mining fleet. This aggressive action is expected to bring us to a capacity of 30 Exahash per second (EH/s) by October 2024.
Growth projects have the miner at 50 EH/s or higher in the fiscal year 2025.
Bradford likewise discussed the tactics employed by a U.S.-based Bitcoin miner, both prior and subsequent to the latest BTC halving. In his opinion, the mining company’s strategy for growth hinged on diversifying its portfolio through acquisitions and expansion into new locations.
Among the recent events concerning the purchase of GRIID Infrastructure, CleanSpark anticipates finalizing the deal within this month.
Treasury holds 8,000 BTC
In summary, the self-mined Bitcoin in the treasury surged beyond 8,000 units, marking a significant jump of 258% compared to the numbers reported during the same period last year.
As of September 30th, the accumulated Bitcoin holdings amounted to 8,049. Of this, 7,098 Bitcoins were mined during the fiscal year 2024, while an additional 493 were mined in September. Notably, Riot Platforms managed to mine 412 bitcoins during the same month.
To highlight, during that timeframe, CleanSpark disposed of approximately 2.5 Bitcoins. This transaction yielded around $145,717, given an average Bitcoin price of $58,287 per coin.
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2024-10-03 20:20