CleanSpark Inc. announced it has achieved and exceeded its previously announced year-end target of 37 EH/s of operating hashrate, reaching 37.5 EH/s. This milestone was driven by the energization of new data centers in Tennessee and Wyoming, coupled with site expansion and ongoing fleet upgrades.
The company's fleet efficiency has also improved, reaching 17.7 J/Th, with expectations for continued improvement as strategic growth plans progress. CleanSpark's hashrate has expanded nearly 300% since the beginning of 2024, demonstrating rapid scaling capabilities.
As a result of strong execution and the recent $650 million zero-coupon convertible bond offering, which fully funds its expansion, CleanSpark has accelerated its expected timing to reach 50 EH/s to the first half of calendar year 2025. The company's Bitcoin treasury is quickly approaching 10,000 Bitcoin, all self-mined.
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