News
CleanSpark Releases May 2024 Bitcoin Mining Update
The company mined 417 bitcoins; total bitcoin holdings now stands at 6,154
LAS VEGAS, June 4, 2024 /PRNewswire/ — CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today released its unaudited update on bitcoin operations and mining for the month ending May 31, 2024.
“We outperformed industry expectations and those of our competitors in our first full month of production following the block reward halving,” said Zach Bradford, CEO. “Surprisingly, our post-halving production also exceeded what some of our peers achieved pre-halving. We continued with our progress and are achieving significant gains and upgrades. For example, we achieved a new record of almost 18 exahash per second, further pushing our efficiency to 23.05 joules per terahash As we continue to grow our hashrate, we are on a trajectory to rapidly return our production to pre-halving levels.
“In the meantime, as we maximize the performance of our existing fleet, we remain very active in the M&A space. We expect to close the first site in Wyoming in the coming days and will continue to aggressively seek additional opportunities aligned with the CleanSpark method. We will continue to provide transparency and updates as we have them. In fact, we recently held our first retail investor day, held at our immersion cooled facility in Norcross, Georgia. I would like to thank our investors who were able to take time out of their busy schedules to attend and meet with us.”
May Update on Bitcoin Mining (Uncertified)
- Bitcoin mined in May: 417
- Bitcoin mined in the year 2024: 3,169
- Total bitcoin holdings as of May 31: 6,154
- Total Bitcoin sold in May: 2.43
- Fleet employed: 134,464
- End of month fleet efficiency: 23.05 J/Th
- Current hashrate: 17.97 EH/s
The Company sold 2.43 bitcoins in May 2024 at an average price of approximately $59,000 per bitcoin. In May, daily mined bitcoin averaged 13.45 and reached a high of 15.0.
Operational update
Dalton expansion. Grading is complete and building permits have been issued. The installation of the primary cable piping has been completed and the formwork is being installed. Once completed, the expansion will operate a fleet of S21s in a 15 MW facility for a hashrate of approximately 0.8 exahash per second (EH/s). Once the expansion is complete, CleanSpark’s Dalton campus, consisting of four independent data centers, is expected to operate at 2.4 EH/s.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We own and operate data centers that operate primarily on low-carbon energy. Our infrastructure responsibly supports Bitcoin, the world’s most valuable digital asset and an essential tool for financial independence and inclusion. We cultivate trust and transparency among our employees and the communities in which we operate. Visit our website at www.cleanspark.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the expectations, beliefs, plans and intentions of the Company . and strategies. In some cases, you can identify forward-looking statements by terms such as “may”, “will”, “should”, “expects”, “plans”, “anticipates”, “could”, “intends”, “objectives”, ” “plans,” “contemplates,” “believes,” “estimates,” “expects,” “anticipates,” “potential” or “continues” or the negative of these terms or other similar expressions. Forward-looking statements are subject to number of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking research statements, including, but not limited to to: the performance and timing of the Dalton expansion; our merger and acquisition activity and our closings; anticipated additions to CleanSpark’s hashrate and the timing thereof; the risk that the electrical power available to our facilities will not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increased difficulty rates for bitcoin mining; bitcoin halving; new or additional government regulation; the expected delivery dates of the new miners; the ability to successfully deploy new miners; dependence on utility rate structures and government incentive programs; reliance on third-party energy providers for expansion efforts; expectations of future revenue growth may not be realized; and other risks described in the Company’s previous press releases and filings with the Securities and Exchange Commission (SEC), included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and any subsequent filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and we undertake no obligation to update or revise any forward-looking statement whether as a result of new information, changed circumstances or future events or otherwise, except as required by law applicable.
Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]
Contact with the media
Eleni Stylianou
702-989-7694
[email protected]
SOURCE CleanSpark, Inc.