CleanSpark reduced Bitcoin mining hash costs by 25% in Q4 of last year

Odaily Planet Daily News: Bitcoin mining company CleanSpark's hash cost in Q4 2024 decreased by about 25% compared to the previous quarter, mainly due to the company's investment in upgrading its mining machines to make its equipment more efficient. CleanSpark's net mining hardware expenditure in the fourth quarter was $192 million. In terms of financing, CleanSpark raised $186 million through stock issuance and $635 million through convertible bond issuance, of which $145 million was used for stock repurchase. In January, CleanSpark produced 626 BTC with a hash rate of 34.77 EH/s, becoming the second largest listed Bitcoin mining company by production capacity. Previously, CleanSpark released its Q4 2024 financial report, with quarterly revenue reaching $162.3 million, a year-on-year increase of 120%; Net profit of 246.8 million US dollars, adjusted EBITDA of 321.6 million US dollars. As of the end of 2024, the company holds 10500 bitcoins with total assets of $2.8 billion.