CleanSpark Inc (NASDAQ:CLSK) (CleanSpark Inc (NASDAQ:CLSK)) has released its unaudited bitcoin mining and operations update for the calendar year-to-date ending August 31, revealing that its hashrate has tripled over the past year.
In August, CleanSpark mined 395 Bitcoin, more than doubled what it mine in August 2021. For the year, the company has mined 2,642 Bitcoin to date, and its total BTC holdings as of August 31 were 526. Daily BTC mined in August reached a high of 13.39.
CleanSpark currently deploys a fleet of more than 36,800 latest-generation bitcoin miners with a hashrate of 3.4 EH/s (exahashes per second), up 19% from July 2022 and 331% from August 2021.
READ: CleanSpark hashrate exceeds three exahashes following summer of acquisitions
“We set out at the beginning of the year to become a top five publicly traded bitcoin mining company and with our outstanding operational performance in 2022 we can say we are now firmly in that category,” CEO Zach Bradford said in a statement.
“We now own and operate three campuses in Georgia. Our hashrate has tripled over the last year. We are on a trajectory to nearly double that in less than half the time it took us to get from 1 EH/s to 3 EH/s. And we are about to hire our 100th employee. I’m extremely proud of our team and their tremendous work.”
The company funded growth and operations through the sale of 388 bitcoins in August at an average of approximately $23,088 per BTC (an 11% increase over last month’s average price per BTC sold), the company said. That generated proceeds of approximately $8.9 million.
Meanwhile, technical crews at the company’s recently acquired site in Georgia have brought more than 6,000 miners online, out of the over 10,000 miners that are on site. The company expects to energize the remaining miners next week.
Additionally, the company has named Taylor Monnig its new VP of mining technology. Monnig was most recently the chief operating officer at TMGCore, where he helped develop and commercialize technologies that support blockchain stability, growth and sustainability.
“Taylor is already making a meaningful impact on our operations and culture and we are thrilled to have him join the team,” Bradford said.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel