Cleanspark Sets Ambitious New Hashrate Target After Reaching 30 EH/s

Cleanspark, a publicly traded bitcoin mining company, announced this week that it has reached an operational hashrate of 30 exahash per second (EH/s). The company expects to surpass 37 EH/s by the end of 2024 and aims for further growth to 50 EH/s in 2025.

Cleanspark Now Operates 30 EH/s of Computational Power

According to the announcement, Cleanspark‘s (Nasdaq: CLSK) hashrate has surged by 200% since October 2023, driven by organic growth and acquisitions. The company’s recent fleet upgrade improved efficiency by nearly 20%, boosting the number of operational machines by 112%.

This strategy, the company noted, has allowed it to generate more computing power with fewer machines, consuming less energy. As one of North America’s largest bitcoin miners, Cleanspark insisted during the announcement the miner is positioned for continued expansion, with additional hashrate expected through the acquisition of Griid Infrastructure.

Cleanspark CEO Zach Bradford emphasized the company’s rapid scaling and capital efficiency. He credited the firm’s market timing and effective procurement of rigs and sites for its strong performance in 2024. Along with increasing operational capacity, Cleanspark stated that it has grown its bitcoin treasury to over 8,049 BTC. The company’s operations span multiple U.S. states, including Georgia, Mississippi, Wyoming, and Tennessee.

Publicly traded bitcoin mining companies had a rough Thursday, as the top five firms by market value, according to bitcoinminingstock.io, experienced declines ranging from 0.38% to 2.26%. Cleanspark shares (CLSK) took the hardest hit among the top five firms. However, within the top ten, the drops were even steeper for Applied Digital, Iris Energy, and Cipher Mining, which saw their shares tumble 6.89%, 2.4%, and 2.65% respectively.

What do you think about Cleanspark achieving 30 EH/s of Bitcoin hashrate? Let us know what you think in the comments section below.

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