Cleanspark, a publicly traded bitcoin miner based in Las Vegas, Nevada, has announced its December 2022 bitcoin mining update, in addition to CEO comments reflecting on 2022.
“Among our many accomplishments this year, I am very proud to increase our annual bitcoin production by more than 200% as we expand our fleet and the number of mining campuses we own and operate throughout Georgia,” said Zach Bradford, CEO , at launch. “Even in this bear market, we are committed to the promise of bitcoin and are proud to be part of the global network that keeps it safe for millions of users around the world.”
The company mined a total of 464 bitcoins in the month of December, ending 2022 with a total of 4,621 mined bitcoins. As of December 31, the company had 228 bitcoins while it sold 517 bitcoins in December for operations and growth.
Like other public miners this year, Cleanspark faced a dramatic drop in its share price, just as the bitcoin price similarly fell. Despite this, when quoted in bitcoin, Cleanspark has maintained a relatively constant valuation and has continued to expand its operations.
In September, mining expert Zack Voell detailed how the mining-turned-energy company continues to grow despite the various headwinds currently present in the bitcoin market. This continued with ASIC acquisitions in the following months, as well as record bitcoin production in October.
The December report also detailed the company’s operational reactions to the winter storm that ravaged the United States that month, describing how 98% of its machines in Georgia were shut down due to the conditions. The machines were turned back on as soon as the temperature and humidity levels allowed.
