Business
CleanSpark Releases July 2023 Bitcoin Mining Update
Bitcoin holdings doubled to 1,061 BTC, hashrate hit all time high of 9 exahashes per second (EH/s), and production increased 17% month over month LAS VEGAS,
About this update from Cleanspark, Inc.
[{"type":"text","content":"Bitcoin holdings doubled to 1,061 BTC, hashrate hit all time high of 9 exahashes per second (EH/s), and production increased 17% month over month\nLAS VEGAS, Aug. 2, 2023 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending July 31, 2023.\n\n \n \n \n \n \n \n\n \n\"In less than one month we brought 2.3 EH/s of capacity online and doubled our bitcoin holdings,\" said CleanSpark CEO Zach Bradford. \"We increased our bitcoin holdings due to what we see as substantial momentum building across the bitcoin ecosystem. This move further underscores our commitment to bitcoin and our critical role in building bitcoin infrastructure.\n\"We entered the bitcoin mining industry just over two-and-a-half years ago and during that time we've increased our hashrate to 9 EH/s. This monumental effort demonstrates the experience and grit of our teams. They are our secret sauce—the reason our operations have scaled so successfully. We are now on a journey to nearly double our size to 16 EH/s in the next half of the year. During this time of rapid growth we will also be turning our attention to filling any gaps and optimizing our fleet to further boost our hashrate and efficiency. I look forward to providing further insights on our past and future efforts on our earnings call next week.\"\nJuly Bitcoin Mining Update (unaudited)\nBitcoin mined in July: 575CY2023 bitcoin mined: 4,070Total BTC holdings as of July 31: 1,061Total BTC sold in July: 43Deployed fleet: 87,936Month-end fleet efficiency: 29 J/THCurrent hashrate: 9.0 EH/s**Operating hashrate for the month averaged approximately 7.6 EH/s due to several weeks of rapid growth. Full value of month-end hashrate expected to be realized in August's monthly update.\nThe Company sold 43 bitcoins in July 2023 at an average of approximately $29,300 per BTC. Sales of BTC equated to proceeds of approximately $1.3 million. July daily BTC mined averaged 18.6 and reached a high of 21.1.\nAbout CleanSpark \nCleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner™. Since 2014, we've helped people achieve energy independence for their homes and businesses. In 2020, we transitioned that expertise to develop responsible infrastructure for Bitcoin, an essential tool for financial independence and inclusion. We st...