Key Points
- CleanSpark Inc. mined 668 Bitcoin in December 2024, holding 9,952 Bitcoin by year-end.
- The company expanded its operations and aims to reach a hashrate of 50 exahashes per second by mid-2025.
CleanSpark Inc., a Bitcoin mining firm, reported successfully mining 668 Bitcoin in the final month of 2024.
In the same period, the company sold 12.65 Bitcoin at an average price of $101,246 per Bitcoin (BTC).
Year-end Holdings and Operations
By the close of the year, CleanSpark had accumulated 9,952 Bitcoin in its reserves.
The company’s total Bitcoin yield for 2024 was 7,024, showcasing a significant boost in its operational capabilities.
CleanSpark’s hashrate, or computing power, increased to 39.1 exahashes per second, indicative of the speed and power of its mining operations.
Moreover, the company enhanced its energy efficiency, decreasing its energy usage per unit of work to 17.59 joules per terahash.
Mining and Expansion
Bitcoin mining involves utilizing specialized computers to solve intricate mathematical problems, a process that verifies transactions on the Bitcoin network.
Miners are rewarded with newly created Bitcoin for their efforts.
CleanSpark’s primary focus is on generating Bitcoin through its mining facilities, with a strong emphasis on energy efficiency and operational scale.
The company extended its operations to Mississippi, Tennessee, and Wyoming, establishing new facilities to support its growing mining capacity.
CleanSpark secured $650 million through a convertible bond offering, providing capital for future expansion without necessitating immediate repayment.
In September, CleanSpark shared its unaudited Bitcoin mining update, revealing that the company’s hashrate had increased by 187% in the fiscal year.
According to its year-end release, CleanSpark plans to reach a hashrate of 50 exahashes per second by mid-2025, further enhancing its capacity to mine Bitcoin.
