CleanSpark Hits 40 EH/s in January and Expands Mining Operations

Highlights:

• CleanSpark reached 40 EH/s in January and mined 626 bitcoins despite harsh weather in several regions.
• The company expanded mining operations in Georgia and Wyoming to support its goal of reaching 50 EH/s.
• CleanSpark sold 22.47 bitcoins in January at an average price of $100412.

CleanSpark reached a major achievement by exceeding 40 exahashes per second (EH/s) during January in its mining hashrate operations. The company achieved additional efficiency improvements while operating during intense cold conditions in diverse areas. CleanSpark mined 626 Bitcoins, resulting in 10,556 Bitcoins stored in its treasury at the end of January.

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— CleanSpark Inc. (@CleanSpark_Inc) February 4, 2025

CleanSpark maintained normal operations in affected areas by implementing defined downtime reduction methods. It supported its utility and community partners through interruptible power contracts. These contracts enabled the company to continue operations and help to relieve pressure on the power grid when demand peaked.

The company also reached an average hashrate of 34.76 EH/s throughout January. Fleet efficiency improved to 16.15 joules per terahash (J/Th), showing continued progress in reducing energy consumption. On average, CleanSpark mined 20.19 bitcoins daily, with a single-day high of 22.89 bitcoins. The company sold 22.47 bitcoins at an average price of approximately $100,412 per bitcoin.

CleanSpark marked the fifth anniversary of its Nasdaq uplisting by ringing the bell last week. The organization confirmed plans to achieve 50 EH/s and sustain its leading position across vital performance metrics. The company tracks key performance indicators such as operating hashrate, the marginal cost per coin, fleet efficiency, bitcoin holdings, and total uptime.

CleanSpark Expands in Georgia and Wyoming

CleanSpark executed new mining operations in Georgia and Wyoming to expand its mining operations. The 12-megawatt site in Twin City Georgia stands near completion. S21 Pro miners located at the facility contribute 0.7 EH/s to CleanSpark’s daily cryptocurrency mining operations. The company expects an extra 0.1 EH/s to become active within the next few weeks.

CleanSpark has started to roll out its S21 XP Immersion mining machines at their Cheyenne Wyoming site. The company predicts that complete deployment will increase its hashrate to 5 EH/s. The construction project is currently scheduled to be finished during this quarter. The company intends to reach its 50 EH/s target by midyear as part of its long-term plan.

CleanSpark runs its operations with 217,272 deployed miners alongside 873 MW under contract. These resources provide ongoing support for current mining operations and establish the foundation for future growth plans. CleanSpark protects itself against regional weather disruptions by maintaining a wide range of business locations across different areas. CleanSpark uses this organizational model to achieve both maximum operational reliability and energy efficiency.

Riot Platforms has also released positive performance results in January. Riot Platforms produced 527 bitcoins in January, a small growth from December. The mining operation achieved a 6% growth and increased its deployed hashrate to 33.5 EH/s in January. The company also modified its year-end projection outlook after it decided to pause operations at its Corsicana Facility. Riot Platforms has adjusted its 46.7 EH/s estimate to a more conservative 38.4 EH/s mining capacity for the year-end.

Riot Announces January 2025 Production and Operations Updates.

“Riot mined 527 #bitcoin in January, marking the second consecutive month of increased production despite rising network difficulty,” said @JasonLes_, CEO of Riot. “During the month, we completed the commissioning of… pic.twitter.com/v0FIcBcf2i

— Riot Platforms, Inc. (@RiotPlatforms) February 4, 2025

Bitcoin Sales and Market Positioning

CleanSpark preserved its strong financial standing by combining profitable Bitcoin sales with its operational, efficient structure. The company generated revenue by selling 22.47 bitcoins in January at an average cost of $100,412 per bitcoin. The bitcoin sales generated revenue that improved both liquidity and sustained operations.

The company has 873 MW of contracted power capacity, excluding hosting agreements and other non-binding arrangements. This energy capacity supports CleanSpark’s ongoing mining activities while providing flexibility for future expansions. The company continues to prioritize efficiency improvements across its fleet to maintain cost-effective operations.

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