CleanSpark Inc., a publicly traded Bitcoin mining company, mined 668 Bitcoin in December 2024.
During that timeframe, the firm offloaded approximately 12.65 Bitcoins at an average cost of around $101,246 per Bitcoin. As per their announcement, CleanSpark owned about 9,952 Bitcoins by the end of the year in their reserve holdings.
In 2024, CleanSpark disclosed that it had mined a total of 7,024 Bitcoins, indicating a substantial boost in its mining capabilities. The company’s mining power, represented by the hashrate, rose to an impressive 39.1 exahashes per second, underscoring the rapid speed and strength of its operations. Furthermore, CleanSpark made strides in energy efficiency, decreasing energy usage for each unit of work to just 17.59 joules per terahash.
Mining Bitcoin entails employing advanced computers to tackle intricate mathematical puzzles, which serves as a means of confirming transactions within the Bitcoin system. Those who engage in this process are compensated with freshly minted Bitcoins for their work. CleanSpark concentrates on producing Bitcoin via its mining operations while emphasizing energy efficiency and expanding operational scope.
CleanSpark’s latest expansions
CleanSpark broadened its activities into Mississippi, Tennessee, and Wyoming, setting up new sites to accommodate the increasing demand for its cryptocurrency mining capabilities.
The business obtained $650 million by selling convertible bonds, ensuring funds for future growth that won’t need to be paid back right away.
cleanly stated, in September, CleanSpark unveiled an unaudited Bitcoin mining report indicating a significant 187% increase in their hashrate during the financial year.
Based on their projected end-of-year announcement, CleanSpark intends to increase its mining speed to 50 quintillion hashes per second (EH/s) by the middle of 2025, thereby enhancing its ability to mine Bitcoin more efficiently.
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2025-01-06 17:54