Cleanspark, a publicly traded bitcoin mining company, announced this week that it has achieved an operational hash rate of 30 exahashes per second (EH/s). The company expects to surpass 37 EH/s by the end of 2024 and aims to grow further to 50 EH/s by 2025.
Cleanspark is currently operating at 30 EH/s compute capacity
Cleanspark’s (Nasdaq:CLSK) hashrate has increased 200% since October 2023, fueled by organic growth and acquisitions, according to the announcement. The company’s recent fleet upgrade improved efficiency by nearly 20%, increasing the number of machines in operation by 112%.
The company noted that this strategy has allowed it to generate more computing power with fewer machines, consuming less energy. As one of the largest bitcoin mining companies in North America, Cleanspark asserted in the announcement that the mining company is positioned to continue expanding, with additional hash rate expected through the acquisition of Griid Infrastructure.
Cleanspark CEO Zach Bradford highlighted the company’s rapid and capital-efficient expansion. He credited the company’s market timing and efficient acquisition of rigs and sites for the company’s strong performance in 2024. Along with the increased capacity, Cleanspark announced that it has increased its bitcoin holdings to over 8,049 BTC. The company’s operations span multiple U.S. states, including Georgia, Mississippi, Wyoming, and Tennessee.
Publicly traded bitcoin mining companies had a tough day on Thursday, as the top five companies by market cap, according to bitcoinminingstock.io, saw declines ranging from 0.38% to 2.26%. Cleanspark (CLSK) was hit the hardest among the top five. However, the declines were even steeper among the top ten for Applied Digital, Iris Energy, and Cipher Mining, which saw their shares fall 6.89%, 2.4%, and 2.65%, respectively.
What do you think about Cleanspark reaching 30 EH/s of Bitcoin hashrate? Let us know your thoughts in the comments section below.
