CleanSpark, Inc., a publicly traded bitcoin mining firm, has launched its Might 2023 bitcoin mining and operations replace, revealing vital progress in each its bitcoin holdings and income. The corporate’s bitcoin holdings grew by 44% in Might, reaching a complete of 451 BTC. Bitcoin mined through the month elevated by 16% to 609 BTC.
CleanSpark’s CEO, Zach Bradford, expressed satisfaction with the corporate’s efficiency, stating, “Not solely can we proceed to extend the quantity of bitcoin in our treasury, however we additionally surpassed $100 million in income for our fiscal 12 months thus far.”
Bradford additionally attributed the higher-than-expected bitcoin manufacturing to elevated operational effectivity and a brief surge in transaction charges as a result of elevated curiosity in Ordinals on the blockchain. Throughout this era, CleanSpark’s every day bitcoin manufacturing reached practically 30 BTC, nearly double its regular every day manufacturing.
By way of operational updates, CleanSpark’s 50MW expansion in Washington is progressing in accordance with plan, with the ability anticipated to be absolutely operational by the top of June. The corporate’s Sandersville site expansion can be underway, with preparations being made for the addition of over 6 EH/s to CleanSpark’s mining operations.
To fund its progress and operations, CleanSpark bought 471 bitcoins in Might, producing roughly $12.9 million in proceeds. The corporate presently operates a fleet of about 67,196 latest-generation bitcoin miners with a complete hashrate of 6.7 EH/s.
CleanSpark described its dedication to increasing its bitcoin mining capability and capitalizing on market alternatives. The corporate said that with its robust efficiency and growing bitcoin holdings, it stays well-positioned for future progress within the trade.