CleanSpark Inc., a publicly traded Bitcoin mining company, has had a successful month in December 2024, mining a total of 668 Bitcoin. The company also sold 12.65 Bitcoin during the same period at an average price of $101,246 per Bitcoin. By the end of the year, CleanSpark had accumulated a total of 9,952 Bitcoin in its reserves, as reported by the company.
In 2024, CleanSpark made significant strides in its mining operations, reporting a total of 7,024 Bitcoin mined for the year. This increase in operational capacity was accompanied by a growth in the company’s computing power, or hashrate, which reached 39.1 exahashes per second. CleanSpark also made improvements in energy efficiency, reducing energy consumption per unit of work to 17.59 joules per terahash.
Bitcoin mining is a process that involves using specialized computers to solve complex mathematical problems, verifying transactions on the Bitcoin network. Miners are rewarded with newly created Bitcoin for their efforts. CleanSpark focuses on generating Bitcoin through its mining facilities while prioritizing energy efficiency and operational scale.
CleanSpark has recently expanded its operations to Mississippi, Tennessee, and Wyoming, adding new facilities to support its growing mining capacity. The company raised $650 million through a convertible bond offering, securing capital for future expansion without requiring immediate repayment.
In September, CleanSpark released its unaudited Bitcoin mining update, revealing a 187% increase in its hashrate for the fiscal year. The company aims to reach a hashrate of 50 exahashes per second (EH/s) by mid-2025, further enhancing its capacity to mine Bitcoin.
Overall, CleanSpark’s success in Bitcoin mining and its commitment to energy efficiency and operational scale position it as a key player in the cryptocurrency industry. With continued expansion and advancements in its mining operations, CleanSpark is poised for further growth and success in the years to come.
[Original source: https://www.cleanenergyauthority.com/blog/cleanspark-mines-668-bitcoin-december-2024]