The bitcoin mining company is reaping the rewards of the expansion as it had a record month with strong reliability.
CleanSpark has reported that the company mined a record 697 bitcoins in a single month, a 50% increase from the amount in December 2022.
“We had a banner month, and not just because we mined a record amount of bitcoins,” said Zach Bradford, CEO of CleanSpark. “We also had our most reliable month ever, achieving 98% uptime across all of our sites.”
The company also reported that its bitcoin holdings were now at 301 BTC, an increase of 32% from December 2022. According to the report, “the company financed growth and operations through the sale of 624 bitcoins in January 2023 at an average of about $19K per BTC. BTC sales equate to revenue of approximately $11.9 million.”
CleanSpark currently has a fleet of approximately 66,000 next-generation bitcoin miners with a hash rate of 6.6 EH/s, an increase of 7% since December 2022 and 214% since January 2022, respectively. Last month, CleanSpark reported the start of work on its new bitcoin mining facility, a planned 50 MW expansion in Washington, Georgia.
However, the company has not been without its challenges as it faces an investor lawsuitand most recently, a law firm investigation in the officers and directors of the company. The last motion to dismiss that suit was denied In the court.
Despite these developments, the company continues to move forward with its expansion plans and is apparently optimistic about its future prospects in the bitcoin mining industry.
