Mines 668 bitcoin in December and
7,024 bitcoin in 2024
287.9% hashrate growth with 33.3% efficiency
improvement year over year
LAS
VEGAS, Jan. 6, 2025 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the
"Company"), today released its unaudited bitcoin
mining and operations update for the month ending December 31, 2024.
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"2024 marked a transformative year for
CleanSpark, where we achieved true escape velocity in our
industry," said Zach Bradford, CEO
and President of CleanSpark. "We have firmly established ourselves
as a U.S. leader in operational hashrate, cost-efficiency, fleet
performance, bitcoin treasury management, and
portfolio-wide uptime. Surpassing our year-end guidance, we reached
an impressive 39.1 EH/s and enhanced fleet efficiency to under 17.6
J/Th ahead of schedule. We strategically expanded into three new
states—Mississippi, Tennessee, and
Wyoming—while completing multiple site expansions. Notably, we
crossed a historic milestone by mining our 20,000th
bitcoin, a testament to our operational excellence
since mining our first bitcoin just four years ago.
With the successful closing of a $650
million zero-coupon convertible bond offering in December,
we are fully equipped to execute our strategic objectives. As we
gear up to achieve 50 EH/s by mid-2025, our growth strategy is not
only ambitious but fully funded, positioning CleanSpark to lead the
industry into its next phase of innovation and scale."
December Bitcoin Mining Update
(unaudited)
- Bitcoin produced in December: 668
- Total bitcoin holdings as of December 31: 9,952
- Month-end operating hashrate: 39.1 EH/s
- MW under contract: 853 MW1
- Month-end fleet efficiency: 17.59 J/Th
- Total bitcoin sold in December: 12.65
- Deployed fleet: 201,808
- CY2024 bitcoin produced: 7,024
Throughout December
2024, the Company's average hashrate was 35.52 EH/s and
average fleet efficiency was 18.06 J/Th, resulting in an average of
21.56 bitcoin mined daily. The single day high reached
22.46 bitcoin. The Company sold 12.65
bitcoin during December
2024 at an average price of approximately $101,246 per bitcoin.
1MW includes all contracted power
capacity for wholly owned sites and excludes contracted capacity
through hosting agreements and/or other non-binding
arrangements.
Additional Updates
Convertible Notes
Offering. CleanSpark announced the closing of $650 million zero-coupon convertible notes to
support its growth through 50 EH/s, a stock buy-back and a capped
call.
Clinton,
Mississippi. Two bitcoin mining facilities
near Clinton are now fully
operational, housing S21 Pro miners with a combined operating
hashrate of approximately 1 EH/s.
Jackson,
Tennessee. The first phase of the Company's 60 MW
bitcoin mining site in Jackson has been successfully completed,
featuring an initial 12 MW of the latest generation S21 XP
Immersion miners. The second phase, currently underway, will bring
an additional 48 MW of air-cooled S21 Pro miners online. Once fully
operational, the site is projected to add approximately 3.7 EH/s to
CleanSpark's overall hashrate.
Cheyenne,
Wyoming: By year-end, S21 XP Immersion miners delivering
1 EH/s were energized as part of CleanSpark's rapidly advancing
construction of 75 MW of immersion-cooled bitcoin
mining data centers. This milestone highlights the Company's
efficient development capabilities, with the initial phase
completed less than six months after closing. The full 75 MW is on
track for completion in Q1 2025 and is expected to contribute a
total of 5 EH/s of CleanSpark's most efficient hashrate.
About CleanSpark
CleanSpark (Nasdaq:
CLSK), America's Bitcoin Miner®, is a market-leading,
pure play Bitcoin miner with a proven track record of
success. We own and operate a portfolio of mining facilities across
the United States powered by
globally competitive energy prices. Sitting at the intersection of
Bitcoin, energy, operational excellence and capital
stewardship, we optimize our mining facilities to deliver superior
returns to our shareholders. Monetizing low-cost, high reliability
energy by securing the most important finite, global asset –
Bitcoin – positions us to prosper in an ever-changing
world. 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 Company's expectations, beliefs,
plans, intentions, and strategies. In some cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "could," "intends,"
"targets," "projects," "contemplates," "believes," "estimates,"
"forecasts," "predicts," "potential" or "continue" or the negative
of these terms or other similar expressions. The forward-looking
statements are subject to a variety 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 the forward-looking statements, including, but not
limited to: completion and performance of Phase II in Jackson, TN; completion and performance of
Cheyenne, WY data center;
anticipated additions and targets to CleanSpark's hashrate and the
timing thereof; the risk that the electrical power available to our
facilities does 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;
increasing difficulty rates for bitcoin mining;
bitcoin halving; new or additional governmental
regulation; the anticipated delivery dates of new miners; the
ability to successfully deploy new miners; the dependency on
utility rate structures and government incentive programs;
dependency on third-party power providers for expansion efforts;
the expectations of future revenue growth may not be realized; and
other risks described in the Company's prior press releases and in
its filings with the Securities and Exchange Commission (SEC),
including 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. Forward-looking statements contained herein are made
only as to the date of this press release, and we assume no
obligation to update or revise any forward-looking statements as a
result of any new information, changed circumstances or future
events or otherwise, except as required by applicable law.
Investor Relations Contact
Harry Sudock
702-989-7692
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.