The bitcoin mining company is reaping the rewards of its expansion as it has a record month of solid reliability.
CleanSpark has reported that the company mined a record 697 bitcoins in one month, a 50% increase from the number of December 2022.
“We had a banner month, and not just because we mined a record number of bitcoins,” said Zach Bradford, CEO of CleanSpark. “We also had the most reliable month ever, achieving 98% uptime across all sites.”
The company also reported that its bitcoin holdings are now at 301 BTC, an increase of 32% since December 2022. According to the report, “The company financed its growth and operations through the sale of 624 bitcoins in January 2023 at an average of $19.K per BTC. BTC sales equivalent to a revenue of about $11.9 million.
CleanSpark now has a fleet of around 66,000 bitcoin miners of the latest generation with a hash rate of 6.6 EH/s, an increase of 7% since December 2022 and up 214% since January 2022. Just last month, CleanSpark reported on its newest bitcoin mining facility, an expansion of 50 MW planned in Washington, Georgia.
The company is not without challenges, however, as it faces lawsuits from investors, and most recently, a law firm’s investigation into the company’s officers and directors. The latest motion to dismiss the lawsuit was rejected in court.
Despite these developments, the company is moving forward with its expansion plans, and seems optimistic about future prospects in the bitcoin mining industry.