CleanSpark Releases January 2025 Bitcoin Mining Update

Rhea-AI Summary

CleanSpark (NASDAQ: CLSK) has released its unaudited bitcoin mining update for January 2025, reporting significant operational achievements. The company mined 626 bitcoin during the month and surpassed 40 EH/s in operating hashrate, with an 8% improvement in fleet efficiency month over month.

The company's bitcoin holdings reached 10,556 as of January 31, with only 22.47 bitcoin sold during the month at an average price of $100,412. Despite weather-related challenges that required power curtailment, CleanSpark maintained operations through its regional portfolio strategy.

Construction continues in Tennessee, Georgia, and Wyoming facilities. The new Twin City, Georgia site (12 MW) is nearly operational with 0.7 EH/s, while the Cheyenne, Wyoming immersion facility is on track for completion this quarter, expected to add 5 EH/s using S21 XP Immersion machines.

Positive

• Achieved 40.1 EH/s operating hashrate
• Substantial bitcoin holdings of 10,556
• 8% fleet efficiency improvement
• High average bitcoin sale price of $100,412
• Near completion of new facilities adding significant hashrate capacity

Negative

• Weather-related operational disruptions requiring power curtailment
• Reduced daily bitcoin production (20.19 average) compared to potential capacity

Insights

Mining Operations Analyst

CleanSpark's January performance demonstrates exceptional operational execution and strategic foresight. The achievement of 40.1 EH/s operating hashrate positions them firmly among the top three Bitcoin miners globally, while their improved fleet efficiency of 16.15 J/Th represents industry-leading operational excellence.

The company's power management strategy during extreme weather events showcases a sophisticated approach to grid relationships. By voluntarily curtailing operations during peak demand, they're building valuable relationships with utility providers while potentially earning premium rates during normal operations. This regional diversification strategy effectively minimized the impact of weather-related disruptions.

Their expansion projects are particularly noteworthy. The Georgia facility, contributing 0.7 EH/s with S21 Pro miners and the Wyoming immersion facility, expected to add 5 EH/s with S21 XP machines, represent strategic deployments of cutting-edge technology. The immersion cooling technology in Wyoming is especially significant, as it typically enables 20-30% higher hashrate output while extending equipment lifespan.

The company's bitcoin treasury management deserves attention. By selling only 22.47 BTC while accumulating 10,556 BTC in total holdings, they're maintaining a strong balance sheet while covering operational costs. This conservative sales approach, combined with their efficient operations, suggests robust financial health and strategic positioning for long-term growth.

626 bitcoin mined and 40 EH/s surpassed in operating hashrate

More than 8% fleet efficiency improvement month over month

LAS VEGAS, Feb. 4, 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 January 31, 2025.

"CleanSpark powered through January, continuing to improve efficiency and reach new milestones despite historic weather events across several of our regions. We crossed the 40 EH/s milestone, achieved more than 10,500 bitcoin held in treasury, and celebrated the five-year anniversary of our uplisting on Nasdaq by ringing the bell last week," said Zach Bradford, CEO and President of CleanSpark. "Now, the entire team is focused on executing our path to 50 EH/s and building on our top three position across operating hashrate, marginal cost per coin, fleet efficiency, bitcoin held, and total uptime. This month we saw our interruptible power contracts in action as we curtailed portions of the portfolio during extreme cold weather events. We demonstrated our ability to support our utility and community partners, specifically during the coldest five days, and the benefit to our broad regional portfolio strategy by mitigating downtime in the Southeast with limited interruption across our other regions. Despite the weather, construction in Tennessee, Georgia, and Wyoming continues as we march toward our midyear goal."

January Bitcoin Mining Update (unaudited)

• Bitcoin produced in January: 626
• Total bitcoin holdings as of January 31: 10,556
• Month-end operating hashrate: 40.1 EH/s
• MW under contract: 873 MW¹
• Month-end fleet efficiency: 16.15 J/Th
• Total bitcoin sold in January: 22.47
• Deployed fleet: 217,272
• CY2025 bitcoin produced: 626

Throughout January 2025, the Company's average hashrate was 34.76 EH/s and average fleet efficiency was 17.37 J/Th, resulting in an average of 20.19 bitcoin mined daily. The single day high reached 22.89 bitcoin. The Company sold 22.47 bitcoin during January 2025 at an average price of approximately $100,412 per bitcoin.

¹MW includes all contracted power capacity for wholly owned sites and excludes contracted capacity through hosting agreements and/or other non-binding arrangements.

Additional Updates
Twin City, Georgia. A new 12 MW site in Georgia housing S21 Pro miners is almost fully online, with approximately 0.7 EH/s contributing to CleanSpark's operating hashrate. The remaining 0.1 EH/s is expected to come online in the coming weeks.

Cheyenne, Wyoming: We are actively deploying in our technologically advanced immersion environment and remain on track for completion in this quarter. Full deployment is expected to contribute 5 EH/s to CleanSpark's most efficient hashrate once fully energized using the latest generation S21 XP Immersion machines.

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: completion and performance of Jackson, Tennessee, Cheyenne, Wyoming, and Twin City, Georgia data centers; 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, 2023, 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 
Barbara Domingo
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 January 2025?

CleanSpark mined 626 bitcoins in January 2025, with a daily average of 20.19 bitcoins and a single-day high of 22.89 bitcoins.

What is CleanSpark's (CLSK) current operating hashrate as of January 2025?

CleanSpark's month-end operating hashrate reached 40.1 EH/s in January 2025.

How many bitcoins did CleanSpark (CLSK) sell in January 2025?

CleanSpark sold 22.47 bitcoins in January 2025 at an average price of approximately $100,412 per bitcoin.

What is CleanSpark's (CLSK) total bitcoin holdings as of January 31, 2025?

CleanSpark held 10,556 bitcoins in treasury as of January 31, 2025.

What new facilities is CleanSpark (CLSK) developing and what's their expected hashrate?

CleanSpark is developing a 12 MW site in Twin City, Georgia (adding 0.8 EH/s) and a facility in Cheyenne, Wyoming (adding 5 EH/s with S21 XP Immersion machines).