CleanSpark Inc (NASDAQ:CLSK) has reported its unaudited bitcoin production and operations update for the calendar year-to-date ending March 31, 2022, which showed monthly production of 318 bitcoin (BTC), while March daily BTC production reached a high of 10.57.
For the calendar year-to-date production ending March 31, 2022, CleanSpark said it produced 898 BTC and had total BTC holdings of 420 as of that date.
The company noted that total BTC converted for operations and growth in March were 391, and it has a currently deployed fleet of over 23,000 latest-generation bitcoin miners with a total hashrate of 2.3 EH/s.
CleanSpark said it fully funded growth and operations through the sale of 420 BTC in March 2022 at an average of approximately $42,294 per BTC. Sales of BTC equated to proceeds of approximately $17.6 million, most of which was used for growth capital expenditures at the company's Norcross facility, it added.
READ: CleanSpark poised to boost bitcoin mining with Lancium power agreement
The company noted that its Norcross campus saw significant progress during March, with about 600 immersion-cooled S19j pros hashing as of March 31. The company said it has experienced delays with its utility partner related to weather and construction but all machines needed to fill the facility to capacity have been received and are being prepared for immersion cooling and deployment and it expects the number of machines hashing to rapidly increase over the coming quarter.
CleanSpark said it has 31MW operational at Coinmint, one of the company's co-hosting partners, with an additional 2MW expected to go live in May, bringing the total hashrate at Coinmint to 1.06 EH/s, backed by over 11,500 machines.
The company added that its newly executed contract with Lancium for 200MW is expected to increase its total hashrate to over 10 EH/s by Spring 2023. The contract also includes the option of an additional 300MW for CleanSpark.
With that 300MW option fully deployed, CleanSpark said it expects to have a total of about 600MW in its portfolio, which would power about 200,000 latest generation miners and contribute approximately 20 EH/s to the network.
Nevada-based CleanSpark is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges.
Contact the author at jon.hopkins@proactiveinvestors.com