CleanSpark announces February bitcoin mining update

Bitcoin mined in February: 648; CY2024 bitcoin mined: 1,225; Total bitcoin holdings as of February 29: 4,218; Total bitcoin sold in February: 2.8; Deployed fleet: 131,419; Month-end fleet efficiency: 24.68 J/Th; Current hashrate: 16 EH/s. Operating hashrate for the month averaged approximately 13.88 EH/s due to several weeks of rapid growth. Full value of month-end hashrate expected to be realized in March’s monthly update. The company sold 2.8 bitcoin in February 2024 at an average of approximately $50,000 per bitcoin. Sales of bitcoin equated to proceeds of approximately $140,000. February daily bitcoin mined averaged 22.3 and reached a high of 25.2. “What a month this has been for us. Our teams have been hard at work and that work is paying off,” said Zach Bradford, CEO. “Even though it was the shortest month of the year, we’ve dramatically increased our hashrate-growing 60% in the space of a few weeks. The result of that effort is that we have meaningfully outpaced global hashrate growth and are already seeing those gains in our monthly production. We mined almost 650 bitcoin this month and added most of it to our treasury, which now sits at almost $260 million when denominated in USD. All the while our fleet has grown even more efficient as we prepare for the halving and the positive impact of the supply shock as bitcoin works just as it was intended to. We expect to see additional gains in both hashrate and fleet energy efficiency in March as we rotate in additional new S21s and as our newly acquired facilities become 100 percent operational.”

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on CLSK: