CleanSpark has posted a sharp year-over-year rise in Bitcoin production, increasing its BTC output by over 50% in June despite mounting pressure on miners following the April halving.
The company mined 685 BTC last month—up from 445 BTC in June 2024—valued at approximately $74.2 million.
The surge follows a 145% increase in CleanSpark’s operational hashrate, which jumped from 20.4 EH/s to 50 EH/s over the past year. CEO Zach Bradford credited the achievement to recent infrastructure expansions across four U.S. states and called it a “9.6% increase from the previous month.”
CleanSpark sold most of its June production, offloading 578 BTC. However, its long-term holdings remain solid at 12,608 BTC, making it the seventh-largest Bitcoin-holding public company. Among mining firms, only MARA Holdings (50,000 BTC) and Riot Platforms (19,225 BTC) hold more, per BitcoinTreasuries.net.
Bradford highlighted the shift in corporate treasury strategies, stating that Bitcoin acquisitions by companies have now outpaced ETF inflows for three straight quarters. Still, the market wasn’t entirely optimistic—CleanSpark’s stock dropped 8% on Monday amid broader Nasdaq losses tied to ongoing trade policy developments.
As mining difficulty climbs and profitability narrows, CleanSpark continues expanding. Since early 2024, the company has scaled operations in Georgia, Mississippi, Wyoming, and Tennessee, including a major $168 million order for Bitmain immersion rigs last August.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/cleanspark-expands-mining-power-closes-in-on-top-bitcoin-holders/