Bitcoin miner CleanSpark has experienced rapid growth amid this year’s crypto winter, and its hashrate has surpassed 3 exahash per second (EH/s), tripling in less than twelve months. The news Following several expansions that started during the booming crypto market in 2022, bitcoin mining operations have begun.
Cleanspark’s Hashrate Exceeds 3 EH/S, Bitcoin Miner’s Executive Chairman Says Firm Prepares For ‘Disturbing Market’
On Tuesday, bitcoin mining operation Cleanspark (Nasdaq: CLSK ) company’s hashrate officially exceeded 3 EH/s. Cleanspark notes that the company’s hash power has tripled in less than a year, and that the company currently has 31,000 ASIC (application-specific integrated circuit) miners. According to the company, Cleanspark recorded a “peak production of 13.25 bitcoins per day”.
Cleanspark’s update on Tuesday follows the company’s acquisition of thousands of next-generation ASIC miners at discounted prices. At the time, the company said that the crypto summer offered “unprecedented opportunities” and in the first week of August announced that it had acquired a plug-in-ready mining plant with a capacity of up to 86 megawatts (MW). By 2022, a large number of other Bitcoin mining operations are expanding and growing.
Applied Digital recently announced that it has acquired a mining site in North Dakota after securing a $15 million loan to continue its expansion. Validus Power, a blockchain power solutions company, announced that the company is building more data centers in Canada.
On Monday, bitcoin miner Terawlf Inc. (Nasdaq: WULF) has renewed its joint venture agreement for Nautilus Cryptomine, a bitcoin mining hub. This month, Sipper Mining completed the company’s 40MW wind-powered Texas mine two weeks ago, while BIT Mining posted a record $9.3 million direct supply.
After more than 3 EH/s, Cleanspark CEO Matt Schultz said the company is preparing for the winter recession. “We are prepared for a tough market that will allow us to take advantage of unique opportunities and push the company even further. As a result, we are increasing our market share as a bitcoin miner,” the executive added.
Meanwhile, the vast majority of stocks stemming from publicly listed bitcoin miners have fallen sharply in value this year. Year-to-date, CLSK has traded down 68.33% against the US dollar and traded over $22 per share at one point. On Tuesday, stock market data showed that CLSK was changing hands at $4.29 per share.
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