CleanSpark (NASDAQ:CLSK) announced Wednesday that it mined 622 Bitcoins in November, down from 655 Bitcoins in October. Backed by an average fleet efficiency of 19.59 Joules per TeraHash and an average hashrate of 32.32 EH/s, average daily production for the month was 20.72 Bitcoins.
CleanSpark says it has improved hashrate and efficiency. These indicators have risen more than 7% and 6%, respectively, since October. On November 30th, the company boasted 9,297 Bitcoins. CEO Zach Bradford pointed to CleanSpark's progress toward its year-end hashrate goal of 37 EH/s. “Two turnkey Bitcoin mining sites near Clinton, Mississippi have been completed and are on track to be fully operational,” Bradford said.
“This will add 1 EH/s by the end of this week.” The company also expects the Tennessee development program to begin by mid-December, allowing it to exceed its year-end goals.
CleanSpark Bitcoin mining fails, but CEO promises record hashrate by year-end
Bradford also said that ongoing expansion projects will see CleanSpark exceed 50 EH/s in 2025. Over the past three months, CleanSpark's stock price has increased by 43%. It's up almost 25% in the last month. Still, prices have fallen by around 7% recently, reflecting contradictory trading behavior.
This article first appeared on GuruFocus.
