CleanSpark Releases April 2025 Bitcoin Mining Update

Rhea-AI Summary

CleanSpark (NASDAQ: CLSK) released its April 2025 Bitcoin mining update, showcasing strong operational performance. The company produced 633 Bitcoin in April, maintaining 12,101 BTC in treasury (with 1,894.4 BTC as collateral). Operating with an average hashrate of 40.1 EH/s and fleet efficiency of 16.98 J/Th, CleanSpark mined an average of 21.1 bitcoin daily. The company strategically sold 401.39 BTC at an average price of $90,084 to self-fund operations. Notable developments include securing a $200 million revolving credit facility with Coinbase and progress on construction projects in Tennessee and Wyoming. CleanSpark remains on track to reach 50 EH/s by mid-2025, with current month-end operating hashrate at 42.4 EH/s and 915 MW under contract.

Positive

• Secured $200 million revolving credit facility with Coinbase
• Strategic BTC sales at high average price of $90,084 per bitcoin
• Substantial bitcoin holdings of 12,101 BTC in treasury
• On track to reach 50 EH/s hashrate target by mid-2025
• Successfully self-funding operations through bitcoin production

Negative

• Temporary hashrate curtailment due to ongoing construction
• Increase in network difficulty affecting mining operations
• Significant portion of bitcoin holdings (1,894.4 BTC) locked as collateral

Insights

Cryptocurrency Mining Analyst

CleanSpark shows strong operational performance with growing hashrate, maintains substantial bitcoin holdings while funding operations through strategic sales.

CleanSpark's April update demonstrates robust mining performance in post-halving conditions. The company produced 633 bitcoin while maintaining an average hashrate of 40.1 EH/s, ending the month at 42.4 EH/s despite temporary curtailments from ongoing construction. This upward trajectory in hashrate is particularly notable given the challenging mining environment.

The company's fleet efficiency of 16.98 J/Th (joules per terahash) is competitive, enabling daily production averaging 21.1 bitcoin. Their mining infrastructure is substantial with 204,770 miners deployed and 915 MW of power under contract, providing the foundation for continued expansion.

What's most impressive is their treasury growth to 12,101 bitcoin, establishing them as a significant holder among public miners. Their progression toward the 50 EH/s mid-2025 target remains on schedule, representing approximately 18% growth from current capacity. The nearing completion of Tennessee and Wyoming facilities will deliver substantial additional operational capacity, strengthening their competitive positioning despite increased network difficulty.

This operational resilience demonstrates CleanSpark's ability to execute effectively through market cycles, particularly important given the April 2023 halving event that reduced block rewards. Their continued production strength provides optionality for their evolving capital strategy.

Financial Analyst

CleanSpark advances capital management with $200M credit facility, self-funds operations through strategic bitcoin sales at ~$90K, maintaining substantial holdings.

CleanSpark has implemented a sophisticated evolution in capital management strategy that balances growth with financial discipline. The $200 million revolving credit facility secured with Coinbase enhances liquidity options without shareholder dilution, reflecting growing institutional credibility.

Most significantly, the company has transitioned to self-funding operations through selective bitcoin sales - selling 401.39 bitcoin at an average price of approximately $90,084 during April. This demonstrates exceptional market timing and execution capability, especially considering bitcoin price volatility.

This hybrid approach maintains substantial holdings (12,101 bitcoin total, with about 15.7% posted as collateral) while generating operational liquidity. Their year-to-date production of 2,589 bitcoin in 2025 provides ongoing inventory for this balanced strategy.

The establishment of a dedicated Digital Asset Management group signals institutional-grade treasury operations, optimizing monetization decisions. This approach represents significant financial maturation - maintaining bitcoin exposure for potential appreciation while ensuring operational sustainability without exclusively relying on capital markets.

The company effectively communicates their capital allocation philosophy: strategic bitcoin accumulation balanced with disciplined sales to cover expenses. This self-funding operational model reduces reliance on equity raises or debt, potentially creating more shareholder value while maintaining significant bitcoin exposure.

Exceeds 12,100 bitcoin held in treasury

Evolves capital strategy; funding monthly operating expenses through production

LAS VEGAS, May 6, 2025 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today released its unaudited Bitcoin mining and operations update for the month ending April 30, 2025.

"A little over a year after the most recent halving, our operational performance across varying market conditions has validated the strength of our scale, strategic focus, and disciplined execution," said CleanSpark CEO and President Zach Bradford. "April brought a modest increase in network difficulty and some temporary hashrate curtailment due to ongoing construction, both expected and manageable factors. We remain committed to our core fundamentals and are on track to reach 50 EH/s by mid-year. Our ongoing construction in Tennessee and Wyoming are nearing completion and will represent a significant step forward in expanding our operating capacity and long-term value creation."

"In April, we advanced our capital strategy by securing a $200 million revolving credit facility with Coinbase, reflecting our disciplined approach to balance sheet optimization," said CleanSpark CFO Gary Vecchiarelli. "We also monetized a portion of our bitcoin production to fully self-fund operations and manage liquidity proactively. Thanks to our Digital Asset Management group, we executed sales at an average bitcoin price exceeding $90,000, demonstrating disciplined market execution and institutional-grade capabilities. As we'll discuss further on our upcoming earnings call, we believe our institutional treasury capabilities will further enhance CleanSpark's leadership in operational excellence and capital stewardship."

April Bitcoin Mining Update (unaudited) 

• Bitcoin produced in April: 633
• Total bitcoin holdings as of April 30: 12,101¹
• Month-end operating hashrate: 42.4 EH/s
• MW under contract: 915 MW²
• Average fleet efficiency: 16.98 J/Th
• Total bitcoin sold in April: 401.39
• Deployed fleet: 204,770
• CY2025 bitcoin produced: 2,589

Throughout April 2025, the Company's average hashrate was 40.1 EH/s and average fleet efficiency was 16.98 J/Th, resulting in an average of 21.1 bitcoin mined daily. The single day high reached 22.98 bitcoin. The Company sold 401.39 bitcoin during April 2025 at an average price of approximately $90,084 per bitcoin.

¹As of April 30, 2025, CleanSpark's Bitcoin holdings were 12,101 in total (1,894.4 bitcoin of this amount was posted as collateral).

²MW includes all contracted power capacity for wholly owned sites and excludes any other non-binding arrangements. 

About CleanSpark
CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading, pure play Bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecasts," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: future rates and impact of tariffs in the US; the timing, completion and performance of the Georgia, Wyoming, Tennessee and Mississippi expansions; anticipated additions and targets to CleanSpark's hashrate and the timing thereof; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2024, and any subsequent filings with the SEC. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law. 

Investor Relations Contact  
Harry Sudock
702-989-7693 
ir@cleanspark.com 

Media Contact 
Eleni Stylianou
702-989-7694
pr@cleanspark.com

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SOURCE CleanSpark, Inc.

FAQ

How many bitcoins did CleanSpark (CLSK) mine in April 2025?

CleanSpark mined 633 bitcoins in April 2025, with an average daily production of 21.1 BTC and a single-day high of 22.98 BTC.

What is CleanSpark's (CLSK) current bitcoin treasury balance?

As of April 30, 2025, CleanSpark held 12,101 bitcoins in treasury, with 1,894.4 BTC posted as collateral.

How much bitcoin did CleanSpark (CLSK) sell in April 2025?

CleanSpark sold 401.39 bitcoins in April 2025 at an average price of $90,084 per bitcoin to self-fund operations.

What is CleanSpark's (CLSK) current hashrate and efficiency?

CleanSpark's month-end operating hashrate was 42.4 EH/s with an average fleet efficiency of 16.98 J/Th.

What new financing did CleanSpark (CLSK) secure in April 2025?

CleanSpark secured a $200 million revolving credit facility with Coinbase to optimize its balance sheet.