Cleanspark, a publicly traded bitcoin miner in Las Vegas, Nevada, has announced its December 2022 bitcoin mining update, in addition to comments from its CEO reflecting on 2022.
“Among our many achievements this year, I am most proud of increasing 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, in a release. “Even in this down market, we are committed to the promise of bitcoin and proud to be part of a global network that remains safe for millions of users around the world.”
The company mined a total of 464 bitcoins in the month of December, to finish 2022 with a total of 4,621 bitcoins mined. As of December 31, the company held 228 bitcoins while selling 517 bitcoins in December for operations and growth.
Like other public miners this year, Cleanspark has seen a dramatic drop in its share price, just like the price of bitcoin itself. Despite this, when priced in bitcoin, Cleanspark has maintained a relatively stable value, and continues to expand its operations.
In September, mining expert Zack Voell detailed how energy companies turned miners continue to grow despite the various headwinds currently in the bitcoin market. This continued with the acquisition of ASIC in the following months, as well as the record production of bitcoins in October.
The December report also detailed the company’s operational response to the winter storm that ravaged the United States that month, describing how 98% of the machines located in Georgia were shut down due to the conditions. The engine is restarted when the temperature and humidity levels allow.