CleanSpark Bitcoin Mining Update November 2024 – Investor Relations

CleanSpark, known as America’s Bitcoin Miner®, recently shared its latest bitcoin mining and operations update for November 2024. The company reported mining 622 bitcoins during the month and achieving a daily production high of over 21 bitcoins. CleanSpark also noted an increase in hashrate and efficiency month over month by more than 7% and 6%, respectively.

CEO Zach Bradford expressed optimism about the progress made towards their year-end goal of reaching a hashrate of 37 EH/s while improving efficiency. Two new bitcoin mining sites near Clinton, MS, have been completed and are expected to add 1 EH/s by the end of the week. Expansion projects in Tennessee are set to go live by mid-month, contributing to CleanSpark’s goal of surpassing 37 EH/s by year-end and aiming for even further growth in 2025.

In November 2024, CleanSpark mined a total of 622 bitcoins, bringing the year-to-date total to 6,356. As of November 30, the company held a total of 9,297 bitcoins, with 26.11 bitcoins sold during November. The fleet operating hash rate at month-end was 33.7 EH/s, with an efficiency of 19.05 J/Th.

Additional updates include the completion and energization of two bitcoin mining sites near Clinton, Mississippi, which are expected to house S21 pro miners with a combined operating hashrate of around 1 EH/s. In Cheyenne, Wyoming, construction is underway for two immersion-cooled bitcoin mining data centers totaling 75 MW, with delivery of immersion cooling equipment ongoing. Each site will host the latest S21 immersion XPs, adding an estimated 5 EH/s to CleanSpark’s hash rate.

With these developments, CleanSpark continues to make strides in the Bitcoin mining space, highlighting ongoing growth and technological advancements as they look towards expanding their operations beyond 50 EH/s in the upcoming quarters.