CleanSpark Inc., a publicly traded Bitcoin mining company, mined 668 Bitcoin in December 2024.
The company sold 12.65 Bitcoin during the same period at an average price of $101,246 per Bitcoin (BTC). By year-end, CleanSpark held 9,952 Bitcoin in its reserves, according to a company release.
For 2024, CleanSpark reported mining a total of 7,024 Bitcoin, marking a significant increase in its operational capacity. The company’s computing power, or hashrate, grew to 39.1 exahashes per second, reflecting the speed and power of its mining operations. Additionally, CleanSpark improved its energy efficiency, reducing energy consumption per unit of work to 17.59 joules per terahash.
Bitcoin mining involves using specialized computers to solve complex mathematical problems, a process that helps verify transactions on the Bitcoin network. Miners are rewarded with newly created Bitcoin for their efforts. CleanSpark focuses on generating Bitcoin through its mining facilities while prioritizing energy efficiency and operational scale.
You might also like: MicroStrategy adds 1,070 more Bitcoin, holdings reach 447,470 BTC
CleanSpark’s latest expansions
CleanSpark expanded its operations to Mississippi, Tennessee, and Wyoming, adding new facilities to support its growing mining capacity.
The company raised $650 million through a convertible bond offering, securing capital for future expansion without requiring immediate repayment.
In September, CleanSpark released its unaudited Bitcoin mining update, which shows the company saw its hashrate jump 187% in the fiscal year.
According to its year-end release, CleanSpark aims to reach a hashrate of 50 exahashes per second (EH/s) by mid-2025, further boosting its capacity to mine Bitcoin.
You might also like: New crypto haven or US competitor: Russia approves crypto taxation
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