CleanSpark tops 13,000 BTC as mining fleet hits new peak

CleanSpark’s Bitcoin treasury ballooned to 13,011 BTC as its mining operations achieved a record 50 EH/s, a dual milestone that underscores its simultaneous growth in both asset accumulation and raw computational power.

According to a press release dated Oct. 3, CleanSpark confirmed its Bitcoin (BTC) treasury reached 13,011 BTC at the close of September, a milestone achieved as its operational hashrate concurrently hit a record 50 exahashes per second.

The company’s latest mining update detailed a month that saw it produce 629 BTC, averaging nearly 21 BTC per day, while its fleet efficiency also peaked at 16.07 joules per terahash.

CleanSpark CEO Matt Schultz characterized the period as “monumental,” pointing not only to production metrics but also to a bolstered leadership team and a $200 million expansion of the company’s bitcoin‑backed credit facility.

“Looking ahead, the coming months and fiscal year represent the beginning of an exciting new chapter in CleanSpark’s growth story as we unlock additional value from our energy portfolio and pipeline to drive long-term shareholder returns. Our business is evolving, and we have the team, expertise, and assets to thrive at the intersection of energy, Bitcoin, and compute,” Schultz said.

CleanSpark’s pivotal year and what comes next

According to CleanSpark, its fiscal year 2025 has been “pivotal,” defined by aggressive infrastructure expansion and a formalized corporate structure. CleanSpark’s hashrate journey saw it leap from 30 EH/s in October 2024 to its current peak of 50 EH/s by June 2025.

Notably, the company emphasized this scale was achieved entirely through self‑operated data centers, a distinction that provides greater control over operations and margins compared to miners reliant on third‑party hosting.

CleanSpark also overhauled its executive suite. Per the press release, the fiscal year solidified the leadership team, appointing Matt Schultz as CEO and Chairman, Gary Vecchiarelli as CFO and President, and filling other key C‑suite roles, including Chief Business Officer and Chief Operating Officer.

Additionally, CleanSpark said it advanced its digital asset management strategy in Q3 by launching a derivatives program specifically designed to optimize yields on its Bitcoin treasury, manage volatility, and strategically monetize production without resorting to outright spot sales.

At the same time, CleanSpark executed a $650 million convertible note offering with a 0% interest rate, coupled with a share buyback and a capped call, a complex financial instrument often used to limit dilution. Furthermore, the company established a total of $400 million in capacity across its bitcoin‑backed credit facilities, demonstrating a growing acceptance of bitcoin as legitimate loan collateral by traditional financial institutions.