CleanSpark ended a busy month of June on a positive note, experiencing an increase in both mined Bitcoin and hashrate. In a press statement released on Tuesday, the company announced that it had mined 445 Bitcoin in June, thanks in part to the addition of five new mining facilities in Georgia. Additionally, CleanSpark surpassed its operational hashrate target of 20 EH/s for the mid-year mark.
CEO Zach Bradford expressed his satisfaction with the company’s progress, stating, “We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee.” CleanSpark’s mining numbers for June indicate the company’s strength following the Bitcoin halving event in April. During a halving, which occurs every four years, mining rewards are cut in half. Despite this change, CleanSpark mined only 46 less BTC compared to June of the previous year, which is a relatively modest difference.
Bradford emphasized the company’s focus on increasing mining hashrate and generating more revenue following the halving. Meanwhile, other miners are facing challenges and considering business sales in order to maximize shareholder value. CleanSpark’s performance since the halving has been impressive, with the company improving its hashrate and mining more BTC in recent months. In addition to this, CleanSpark also acquired GRIID facilities in a $155 million deal, further solidifying its position in the market. Analysts at H.C. Wainright are optimistic about the future of CleanSpark, with the CLSK stock currently up 58% year-to-date and trading at $17.19 on the Nasdaq.