CleanSpark mined 445 bitcoin last month, up from May’s 417 mined. The bitcoin miner said it exceeded its mid-year target of 20 EH/s in operational hashrate due to its acquisition of five new bitcoin mining sites in Georgia.

The company sold 8.06 bitcoin in June at an average price of approximately $67,514 per bitcoin, according to a press release. The average hashrate throughout the month was 17.85 EH/s.

"Surpassing 20 EH/s in operational hashrate is more than double our hashrate from December," said CEO Zach Bradford. "While our peers are exploring other avenues of income, we're laser-focused on delivering results and increasing our bitcoin mining hashrate and associated revenues. We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee."

The 445 mined represents a relatively minor dropoff from the same period last year, 491 bitcoin when considering the bitcoin halving that occurred this past April. A halving happens every four years and reduces the reward given to miners for verifying transactions on the Bitcoin network by 50%.

CleanSpark had a busy month of June. In addition to the aforementioned Georgia-based acquisitions, the company purchased GRIID Infrastructure, another Bitcoin mining firm, in a deal valued at $155 million. 

CleanSpark’s operational power is expected to reach 100 megawatts by the end of the year. The company has mined 3,614 bitcoin so far this year and holds 6,591 bitcoin as of June 30.

CleanSpark's stock (CLSK) was trading down 3.8% at publication time following the price of bitcoin, which was down 2.2% over the past 24 hours, according to The Block's bitcoin price page.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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