CleanSpark’s Bitcoin Mining Expansion: 50 MW Capacity Increase, Forbes Recognition
The company increased efficiency by over three percent compared to December 2022 and increased its profit margins, despite compressed production due to February being the shortest month. The company is preparing for halving next year by continuing to test and deploy all hardware and software.
CleanSpark has announced its plan to expand its mining capacity by launching an additional 50 megawatts in Washington, where construction is underway. The company’s fleet of bitcoin miners includes 66,900 machines of the latest generation, with a total hashrate of 6.6 EH/s.
To fund its growth and operations, CleanSpark sold 778 bitcoins in February 2023 at an average price of around $23K per BTC. As recognition of its success, CleanSpark has been included in Forbes’ 2022 list of America’s Best Small Companies and has secured the 44th position on the Financial Times’ list of the 500 Fastest Growing Companies in the Americas.
CleanSpark strives to leave the planet better than it found it by sourcing and investing in low-carbon energy such as wind, solar, nuclear, and hydro. The company has forward-looking statements and warns of risks such as volatile and unpredictable cycles in the emerging and evolving industries in which they operate, increasing difficulty rates for bitcoin mining, new or additional governmental regulation, and other risks described in their prior press releases and filings with the Securities and Exchange Commission (SEC).
CleanSpark is a technology company that provides advanced software solutions for energy microgrid management systems, and its involvement in Bitcoin mining is just one aspect of its operations. While CleanSpark aims to be a leading provider of sustainable and environmentally responsible Bitcoin solutions, it is not solely focused on mining. It has a broader focus on energy management and renewable energy systems.
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