CleanSpark Doubled Number of Bitcoins Mined in Q2 This Fiscal Year

Reading time: < 1 minute

CleanSpark, an American mining company, has reported that the number of Bitcoins mined by them during the second quarter of fiscal 2023 had doubled compared to the same period last year. However, their income only increased by 14%, amounting to $42.5 million.

The CFO of CleanSpark, Gary Vecchiarelli, attributed this to the low prices of BTC during this period. He also mentioned that their Bitcoin revenue of $22,700 was up from $41,000 the previous year.

CEO Zach Bradford highlighted the importance of increasing the hashrate before the upcoming halving event, in which the block reward will be reduced from 6.25 BTC to 3.125 BTC.

To this end, CleanSpark purchased 45,000 Antminer S19 XP ASIC miners for a total of $144.9 million and 20,000 Antminer S19j Pro +, which should be connected to two data centers in Georgia by the end of the year.