CleanSpark Achieves Good Mining Performance With 659 BTC In August

CEO Zach Bradford expressed satisfaction with the results, stating that the 50 MW expansion in Washington had a highly productive first full month, achieving peak operational hashrate and delivering some of their best daily production figures.

Despite challenging weather conditions with heavy rain and high temperatures, CleanSpark maintained remarkable uptime levels. The company anticipates that its August performance will rank among the top monthly Bitcoin production rates for publicly traded miners in North America.

In August, CleanSpark mined a total of 659 Bitcoins, contributing to their 2023 total of 4,729. As of August 31, the company held 1,677 Bitcoins and sold 43 during the same month, generating approximately $1.2 million in proceeds. Daily BTC mined averaged 21.26, with a peak of 22.11.

Construction is progressing at CleanSpark’s Sandersville, GA, expansion site, with concrete already poured for Building 1.

The development will eventually host 230 MW of state-of-the-art Bitcoin mining machines, becoming one of the Southeastern United States’ largest mining data centers. The expansion, totaling 150 MW, will accommodate 45,000 miners.

Simultaneously, the Municipal Energy Authority of Georgia (MEAG) is building a 200 MW substation and associated infrastructure to power the Sandersville expansion.

The substation is expected to be completed in 2023, with power-line connections projected for early 2024. This development aligns with CleanSpark’s goal of achieving an operational hashrate of 16 EH/s.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source