Mines 624 bitcoin in
twenty-eight-day February
Increases Bitcoin treasury by
nearly 6% month over month to 11,177
LAS
VEGAS, March 5, 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 February 28, 2025.
"February demonstrated the value of our pure play
Bitcoin mining strategy. We focus exclusively on
bitcoin and continuously improve on our leading
operational excellence as we continue to add to our treasury," said
Zach Bradford, CleanSpark CEO and
President.
"Despite February being a shorter month, we made strides across
all our facilities and continued to add additional power to our
contracted portfolio. The last remaining machines have been removed
from Coinmint in New York, making
our portfolio 100% owned and operated. With nearly 1 GW of power
under contract, we have sufficient capacity immediately available
for energization to support the remaining path to 50 EH/s. Average
fleet efficiency once again improved month over month. End of month
peak efficiency changed slightly compared to January, led by
increased run times, due to reduced weather-related curtailment of
the S19XP subset of our fleet, which continue generating high
margin output."
"As we look ahead, we are on schedule to reach 50 EH/s by
June 30, 2025, and continue to invest
in the power pipeline required to support 60 EH/s and beyond," said
Bradford.
February Bitcoin Mining Update
(unaudited)
- Bitcoin produced in February: 624
- Total bitcoin holdings as of February 28: 11,177
- Month-end operating hashrate: 40.7 EH/s
- MW under contract: 915 MW1
- Average fleet efficiency: 17.07 J/Th
- Total bitcoin sold in February: 2.73
- Deployed fleet: 198,715
- CY2025 bitcoin produced: 1,250
Throughout February 2025, the
Company's average hashrate was 39.07 EH/s and average fleet
efficiency was 17.07 J/Th, resulting in an average of 22.30
bitcoin mined daily. Month-end peak fleet efficiency
was 16.82 J/Th. The single day high reached 23.53
bitcoin. The Company sold 2.73 bitcoin
during February 2025 at an average
price of approximately $95,695 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
Georgia: Several
expansions to existing facilities and regions are in
progress. These projects will add additional immersion
deployments to the state and deliver the same best-in-portfolio
performance to our most mature market. These expansion projects
will contribute to achieving our mid-year guidance.
Cheyenne,
Wyoming: Our power
contracts have been expanded by 35 MW to a total of 110 MW with
further expansion expected in 2025. Hashrate performance at
our immersion deployments in Cheyenne leads the entire portfolio as the
next two phases of the regional project continue through
construction and commissioning, which we expect to bring online in
the coming weeks.
Jackson, Tennessee:
Construction on 48 MW of air-cooled infrastructure continues in
order to power approximately 3.1 EH/s as part of the path to 50
EH/s. Jackson will be the largest
facility thus far in Tennessee and
serve as a critical participant in TVA's demand response program.
We expect to see hashrate come online early next quarter.
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: timing, completion and performance of the Georgia, Wyoming, and Tennessee 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
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.
