CleanSpark Inc (CLSK) experienced a slight dip in its Bitcoin mining production during August, although its hashrate saw an increase. The company mined 478 Bitcoin in August, a decrease from the 494 mined in July. However, this decline occurred despite a rise in CleanSpark’s average hashrate, reaching 21.3 EH/s throughout the month, resulting in an average of 15.43 Bitcoin mined daily. The company concluded the month with a hashrate of 22.6 EH/s, a 1.4 EH/s increase from the previous month.
Despite the lower output, CleanSpark remains optimistic about its future. The company has already mined 4,586 Bitcoin year-to-date, adding to its total Bitcoin holdings, which reached 7,558 as of August 31. CleanSpark also sold 2.5 Bitcoin last month at an average price of $56,729 per coin.
Furthermore, CleanSpark is actively expanding its mining capacity. The company expects to bring an additional 15 MW of data center capacity online by next week at its Dalton facility. Additionally, another 50 MW of capacity is expected to be operational by mid-September at the Sandersville facility.
CleanSpark’s initial 30 MW immersion-cooled Wyoming facility is progressing as planned. The company is also currently utilizing approximately 50 MW of infrastructure under a hosting agreement in Tennessee, which will be owned upon completion of its GRIID Infrastructure acquisition.
CleanSpark’s CEO, Zach Bradford, expressed confidence in the company’s future, stating, “As we approach the end of our fiscal year, the team continues to work diligently to optimize fleet efficiency and increase hashrate. Our fleet upgrade is well underway as we simultaneously prepare for 65 MW of capacity to be energized during the month of September. These efforts are expected to result in a meaningful increase in operating hashrate and bitcoin production as we close out our fiscal year.”
CLSK shares were trading down 12.00% at $9.41 at the time of publication. The company’s focus on expanding its mining operations and optimizing its fleet suggests that it remains committed to its Bitcoin mining strategy, aiming for significant growth in production in the coming months.
