CleanSpark hits new high in bitcoin production

The company reported mining 721 bitcoins in April 2024, with a daily peak surpassing 48 bitcoins

CleanSpark Inc., a U.S.-based sustainable bitcoin mining company, has announced significant growth in its bitcoin mining operations for April, touching a new high in its hashrate and bitcoin production.

The company reported mining 721 bitcoins in April 2024, with a daily peak surpassing 48 bitcoins. This rise in production aligns with the deployment of advanced S21 mining machines and the expansion of its facilities.

CleanSpark's Chief Executive Officer, Zach Bradford, attributed the gains to the firm's efficiency improvements and the recent increase in transaction fees after the bitcoin halving event.

CleanSpark's current hashrate stands at 17.3 exahashes per second (EH/s), marking a significant advancement in its mining capabilities. The firm's operational update underlined the ongoing expansion of its Dalton, GA campus, which is expected to contribute an additional 0.8 EH/s to its total hashrate once completed. This project, referred to as Dalton 4, involves the construction of a 15MW facility that will house the S21 mining fleet.

For April, the firm sold a modest 2.88 bitcoins at an average price of around $64,000 per bitcoin. CleanSpark's total bitcoin holdings as of April 30 were 5,739, with an YTD mining total of 2,752 bitcoins.

The firm also announced its upcoming participation in the 19th Annual Needham Technology, Media, & Consumer Conference from May 14 to 16 in New York, and its fiscal second quarter 2024 financial results webcast slated for May 9.

CleanSpark's growth comes amidst a wider industry context where less efficient miners may be ceasing operations because of the post-halving market conditions. The firm's emphasis on low mining costs and industry-leading scale positions it favourably in the competitive landscape.