Bitcoin

<a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a> Inc., America's Bitcoin Miner™, has announced its unaudited bitcoin mining and operations update for June 2024, revealing significant growth and achievements. The company successfully surpassed its mid-year target of 20 EH/s in operational <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a>, doubling its capacity since December 2023, according to <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Releases-June-2024-Bitcoin-Mining-Update/default.aspx">Cleanspark</a>. 
The milestone is largely attributed to CleanSpark's recent acquisition of five new bitcoin mining sites in Georgia. These sites offer 60 MW of infrastructure and include interruptible-load designated power purchase agreements (PPAs) with load balancing capabilities, providing benefits for utility providers and the power grid. 
"We reached a tremendous milestone on our path to 50 EH/s and beyond. Surpassing 20 EH/s in operational hashrate is more than double our hashrate from December," said Zach Bradford, CEO. "Doubling our hashrate takes grit and teamwork and our growth is a testament to the dedication of our teams. While our peers are exploring other avenues of income, we're laser-focused on delivering results and increasing our bitcoin mining hashrate and associated revenues. We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee."&nbsp;&nbsp; 
In June 2024, CleanSpark mined 445 bitcoins, bringing the total for the calendar year to 3,614. The company currently holds 6,591 bitcoins and sold 8.06 bitcoins in June at an average price of $67,514 per bitcoin. The month-end fleet efficiency was reported at 22.31 J/Th, with a current hashrate of 20.4 EH/s. 
In addition to the Georgia sites, CleanSpark has entered a definitive agreement to acquire GRIID Infrastructure. This acquisition, alongside the newly acquired sites, is expected to add 3.7 EH/s of total hashrate once fully deployed. As of June 30, approximately 1.7 EH/s have already been deployed, with further expansion anticipated in July. 
The company is also making progress with its Dalton expansion. The concrete pours for both building slabs have been completed, and transformers have been set. Once fully operational, the Dalton campus, which consists of four independent <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/">data centers</a>, will operate at 2.4 EH/s. This 15 MW expansion is expected to be completed by September 2024.

CleanSpark Achieves 20 EH/s Hashrate Milestone, Doubles Bitcoin Mining Capacity

Ultramining_Eng

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