CleanSpark Mines 685 BTC in June, Hashrate Up 145% YoY
Overview
CleanSpark continues to demonstrate strong momentum in its Bitcoin mining operations, with output soaring over 50% year-over-year. In June, the company mined 685 BTC and expanded its operational hashrate to 50 EH/s, solidifying its standing as one of the top seven publicly traded Bitcoin holders globally.
Despite the increasingly competitive and challenging post-halving environment for Bitcoin miners, CleanSpark has continued to exceed expectations. In June, the company’s operational hashrate climbed to 50 EH/s, a significant leap from 20.4 EH/s recorded a year earlier—marking a remarkable 145.1% increase in mining capacity. This growth reflects CleanSpark’s strategic investment in infrastructure and technology.
During the same month, CleanSpark mined a total of 685 BTC, valued at approximately $74.2 million based on current market prices. This represents a sharp increase compared to the 445 BTC mined in June 2024. For reference, EH/s (exa hashes per second) measures the immense computational power used to secure and process transactions across the Bitcoin network.
CleanSpark CEO and president Zach Bradford attributed the company’s rapid hashrate growth to the strong coordination between its operations and technology teams:“Thanks to the tireless work of our teams, we were able to add over 10 EH/s of capacity across four states, helping us hit this ambitious milestone,” Bradford said. “That’s a 9.6% increase just from the previous month.”
CleanSpark sold 578 BTC in June, representing the majority of its monthly production. Its current Bitcoin holdings stand at 12,608 BTC, up slightly from 12,502 BTC in May and ranking seventh among publicly traded companies, according to BitcoinTreasuries.net.
Within the Bitcoin mining sector, only two publicly traded companies currently hold more BTC than CleanSpark. Marathon Digital Holdings (MARA) leads with 50,000 BTC, placing it second overall among public firms, while Riot Platforms follows with 19,225 BTC, ranking fourth. CleanSpark’s position just behind these giants underscores its growing influence within the institutional Bitcoin ecosystem.
Commenting on this trend, CEO Zach Bradford noted that corporate adoption of Bitcoin is accelerating globally.
“Corporations around the globe are embracing the value of a Bitcoin-enhanced balance sheet,” he said. “In fact, corporate Bitcoin acquisitions have outpaced ETF net inflows for the third consecutive quarter.”
CleanSpark Stock Declines Following Mining Update
Despite positive operational performance, CleanSpark’s stock (CLSK) saw a decline on Nasdaq, falling 8% on Monday at the time of writing. This drop coincides with broader market movements, as the Nasdaq index declined more than 1% amid uncertainty surrounding ongoing U.S. trade negotiations.
The pullback in CleanSpark’s stock comes against the backdrop of increasing difficulty in Bitcoin mining. As of May 31, the Bitcoin network difficulty hit an all-time high of 126.9 trillion, making it more computationally intensive—and costly—for miners to earn rewards.
Since February 2024, CleanSpark has significantly expanded its mining footprint across the United States, launching or scaling up operations in Georgia, Mississippi, Wyoming, and Tennessee. Notably, in August 2024, the company made headlines by acquiring 26,000 Bitmain immersion mining rigs in a $168 million deal, aiming to further optimize energy efficiency and scale output.
CleanSpark’s rapid expansion, increasing hashrate, and steady growth in Bitcoin holdings reflect its clear commitment to establishing long-term leadership in the Bitcoin mining industry. However, the road ahead remains challenging, as rising network difficulty and unpredictable energy costs continue to put pressure on miners operating in this fast-changing landscape.
