Mines 668 bitcoin in December and 7,024 bitcoin in 2024
287.9% hashrate growth with 33.3% efficiency improvement year over year
CleanSpark, America’s Bitcoin Miner, released its unaudited bitcoin mining and operations update for the month ending December 31, 2024.
“2024 marked a transformative year for CleanSpark, where we achieved true escape velocity in our industry,” said Zach Bradford. “We have firmly established ourselves as a U.S. leader in operational hashrate, cost-efficiency, fleet performance, bitcoin treasury management, and portfolio-wide uptime. Surpassing our year-end guidance, we reached an impressive 39.1 EH/s and enhanced fleet efficiency to under 17.6 J/Th ahead of schedule. We strategically expanded into three new states—Mississippi, Tennessee, and Wyoming—while completing multiple site expansions. Notably, we crossed a historic milestone by mining our 20,000th bitcoin, a testament to our operational excellence since mining our first bitcoin just four years ago. With the successful closing of a $650 million zero-coupon convertible bond offering in December, we are fully equipped to execute our strategic objectives. As we gear up to achieve 50 EH/s by mid-2025, our growth strategy is not only ambitious but fully funded, positioning CleanSpark to lead the industry into its next phase of innovation and scale.”
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December Bitcoin Mining Update (unaudited)
- Bitcoin produced in December: 668
- Total bitcoin holdings as of December 31: 9,952
- Month-end operating hashrate: 39.1 EH/s
- MW under contract: 853 MW1
- Month-end fleet efficiency: 17.59 J/Th
- Total bitcoin sold in December: 12.65
- Deployed fleet: 201,808
- CY2024 bitcoin produced: 7,024
Throughout December 2024, the Company’s average hashrate was 35.52 EH/s and average fleet efficiency was 18.06 J/Th, resulting in an average of 21.56 bitcoin mined daily. The single day high reached 22.46 bitcoin. The Company sold 12.65 bitcoin during December 2024 at an average price of approximately $101,246 per bitcoin.
MW includes all contracted power capacity for wholly owned sites and excludes contracted capacity through hosting agreements and/or other non-binding arrangements.
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Additional Updates
Convertible Notes Offering. CleanSpark announced the closing of $650 million zero-coupon convertible notes to support its growth through 50 EH/s, a stock buy-back and a capped call.
Clinton, Mississippi. Two bitcoin mining facilities near Clinton are now fully operational, housing S21 Pro miners with a combined operating hashrate of approximately 1 EH/s.
Jackson, Tennessee. The first phase of the Company’s 60 MW bitcoin mining site in Jackson has been successfully completed, featuring an initial 12 MW of the latest generation S21 XP Immersion miners. The second phase, currently underway, will bring an additional 48 MW of air-cooled S21 Pro miners online. Once fully operational, the site is projected to add approximately 3.7 EH/s to CleanSpark’s overall hashrate.
Cheyenne, Wyoming: By year-end, S21 XP Immersion miners delivering 1 EH/s were energized as part of CleanSpark’s rapidly advancing construction of 75 MW of immersion-cooled bitcoin mining data centers. This milestone highlights the Company’s efficient development capabilities, with the initial phase completed less than six months after closing. The full 75 MW is on track for completion in Q1 2025 and is expected to contribute a total of 5 EH/s of CleanSpark’s most efficient hashrate.
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Source – prnewswire
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