CoinEfficiency

CleanSpark Announces Significant Growth in Bitcoin Mining Operations

CleanSpark reports a substantial increase in Bitcoin mining capacity, doubling its holdings and enhancing operational efficiency as it aims to expand further.
Published on 2023-08-02

CleanSpark's Bitcoin Mining Expansion

CleanSpark, a leading force in the Bitcoin mining industry, has unveiled its latest operational update, showcasing remarkable growth. By the end of July 2023, the company brought an additional 2.3 EH/s of mining capacity online, significantly boosting its Bitcoin holdings. This strategic move underscores CleanSpark's commitment to advancing Bitcoin infrastructure and capitalizing on the burgeoning momentum within the ecosystem.

Impressive Growth Metrics

In just over two and a half years, CleanSpark has elevated its hashrate to 9 EH/s, reflecting the dedication and expertise of its teams. The firm's ambitious goal is to nearly double this rate to 16 EH/s by the year's end. During this period of rapid expansion, CleanSpark plans to address operational gaps and optimize its fleet to enhance efficiency further.

July Mining Update

In July, CleanSpark mined 575 Bitcoins, contributing to a cumulative 4,070 Bitcoins mined throughout 2023. As of the end of July, the company held 1,061 Bitcoins, having sold 43 Bitcoins at an average price of $29,300 each, generating approximately $1.3 million.

Fleet and Efficiency

CleanSpark's deployed fleet comprises 87,936 units, with a month-end fleet efficiency of 29 J/TH. The average operating hashrate for July was around 7.6 EH/s, influenced by the rapid growth phase, with full capacity expected to be realized in August.

Commitment to Sustainable Practices

Founded in 2014, CleanSpark has pivoted from energy independence solutions to pioneering responsible Bitcoin mining infrastructure. The company is committed to sustainable practices, sourcing energy from low-carbon sources such as wind, solar, nuclear, and hydro. CleanSpark aims to foster trust and transparency within its operations and the global Bitcoin community.

Forward-Looking Statements

CleanSpark's recent announcements include forward-looking statements concerning future expansions, operational enhancements, and anticipated benefits. While these statements are based on current expectations, they involve inherent risks and uncertainties. Investors are advised to consider these factors when evaluating CleanSpark's future performance.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.