#BitcoinHashRateSurge
CleanSpark's Bitcoin stock rises to 9,952 BTC as the hashrate increases.
The Nasdaq-listed Bitcoin mining company is one of the largest corporate holders of BTC in the world.
The U.S. cryptocurrency miner CleanSpark increased its Bitcoin holdings in the last month of 2024, as the company touted efficiency improvements and a strong acceleration in hashrate growth as reasons for its success.
According to a report from January 6, CleanSpark mined 668 BTC in December and 7,024 BTC throughout the year. The company's hashrate (or the amount of computational power deployed to secure the Bitcoin network) increased by 287.9% year-over-year.
The efficiency of the hashrate also improved by 33.3% compared to the previous year, bringing the company's operational hashrate to 39.1 exahashes per second by the end of 2024.
CleanSpark sold 12.65 BTC in December, representing only 58% of the company's average daily production for the month.
The average selling price was approximately $101,246, which generated $1.28 million in profits for the company.
CleanSpark significantly increased its mining capacity in 2024 by acquiring seven facilities in Knoxville, Tennessee. At that time, the company stated that the new facilities would increase its hashrate by 22%.
CleanSpark's shares, trading under the symbol CLSK, rose significantly on January 6. However, CLSK is still trading at less than half of its 52-week high.
