Core

2024

Bitcoin

Northern

Bitcoin miner CleanSpark increased its Bitcoin&nbsp;production by 6.7% in June and surpassed its mid-year hashrate target of 20 exahashes per second (EH/s).
The United States-based miner only sold 8 of the 445 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) it mined in June, bringing its total Bitcoin holdings to 6,591 BTC as of June 30, worth more than $4 billion at current prices.
In a July 2 statement, CleanSpark CEO Zach Bradford <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Releases-June-2024-Bitcoin-Mining-Update/default.aspx" target="_blank" rel="noopener nofollow">said</a>&nbsp;that the firm’s hashrate now stands at 20.4 EH/s — more than double what it was in December 2023. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/6ae3e645-55ea-428d-915e-314295c69db8.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 CleanSpark’s key performance metrics in June. Source: CleanSpark
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CleanSpark’s hashrate surpassed its mid-year target of 20 EH/s following the installation of 1.7 EH/s of new miners at the <a href="https://cointelegraph.com/news/cleanspark-acquires-5-mining-facilities-georgia">five new facilities</a> it recently purchased in the U.S. state of Georgia.
Hashrate refers to the total <a href="https://cointelegraph.com/explained/what-is-bitcoin-hash-rate-and-why-does-it-matter">combined computational power</a>&nbsp;used to mine transactions on the Bitcoin network.
An additional 2 EH/s are expected to come from the five sites in Georgia once completed.
It is now the third <a href="https://cointelegraph.com/explained/how-long-does-it-take-to-mine-1-bitcoin">Bitcoin miner</a> to surpass the 20 EH/s milestone, trailing Marathon Digital and Core Scientific at 29.9 EH/s and 20.4 EH/s, respectively, Hashrate Index data <a href="https://data.hashrateindex.com/stocks" target="_blank" rel="noopener nofollow">shows</a>.
Bradford said his firm was now setting its sights on the next milestone, reaching 50 EH/s:
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 “While our peers are exploring other avenues of income, we’re laser-focused on delivering results and increasing our bitcoin mining hash rate and associated revenues.”
</blockquote>
In a bid to capture additional revenue streams, several major Bitcoin miners have expanded into the artificial intelligence and cloud computing space in recent months, including <a href="https://cointelegraph.com/news/core-scientific-coreweave-3-5b-ai-contract">Core Scientific</a>,&nbsp;TeraWulf,<a href="https://cointelegraph.com/news/bitcoin-miner-hut-8-150m-ai-investment"> Hut 8 Corp</a>&nbsp;and <a href="https://cointelegraph.com/news/bitcoin-miner-northern-data-seeks-ipo-ai-unit">Northern Data AG</a>.
Related: <a href="https://cointelegraph.com/news/bitcoin-miner-northern-data-seeks-ipo-ai-unit">Bitcoin miner Northern Data eyes $16B IPO for US cloud and mining units</a>
Meanwhile, CleanSpark announced a <a href="https://cointelegraph.com/news/cleanspark-acquires-griid-stock-transaction">$155 million merger</a> with GRIID Infrastructure on June 27.
CleanSpark acquired all the issued and outstanding common stock of GRIID and assumed GRIID’s debts.
The <a href="https://cointelegraph.com/learn/how-to-mine-bitcoin-a-beginners-guide-to-mine-btc">Bitcoin miner</a> also received an additional 20 megawatts of power under the agreement.
Despite the news increase in Bitcoin production and hashrate milestone, CleanSpark stock fell over 5.5% to $16.93 on July 2, Google Finance data <a href="https://www.google.com/finance/quote/CLSK:NASDAQ" target="_blank" rel="noopener nofollow">shows</a>.
However, CleanSpark is still up 55.6% so far in 2024 and 247.6% over the last 12 months.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/3bc7c199-5d6f-40d6-9563-ef352840ac85.png" alt="" title="">
 <figcaption style="text-align: center;">
 Change in CleanSpark share price over the last 12 months. Source: Google Finance
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Magazine:<a href="https://cointelegraph.com/magazine/cuba-bitcoin-revolution-adoption-embargo/"> The truth behind Cuba’s Bitcoin revolution: An on-the-ground report</a>

CleanSpark mined 445 Bitcoin in June, surpasses hashrate target

Cointelegraph

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