United States cryptocurrency miner CleanSpark boosted its Bitcoin holdings in December 2024, citing efficiency improvements and rapid hashrate growth.
CleanSpark's Operational Results
In December, CleanSpark mined 668 BTC and 7,024 BTC for the entire year. The company's hashrate increased 287.9% year-over-year and efficiency improved by 33.3%, reaching 39.1 exahashes per second by the end of the year.
Expansion and Sales
CleanSpark sold 12.65 BTC in December, representing 58% of its average daily production. The average selling price was approximately $101,246, netting the company around $1.28 million. In 2024, CleanSpark significantly increased its mining capacity by acquiring seven facilities in Knoxville, Tennessee, boosting its hashrate by 22%.
Corporate Investments in Bitcoin
By the end of 2024, CleanSpark had accumulated 9,952 BTC valued at $1.01 billion, ranking as the fifth largest corporate Bitcoin holder, surpassing Tesla. Publicly listed companies now hold 593,152 BTC, accounting for roughly 20% of institutional Bitcoin treasuries. Additionally, more companies, such as KULR and Canadian firms Matador Technologies and Quantum BioPharma, are adding Bitcoin to their balance sheets.
CleanSpark's active growth in reserves and efficiency enhancement has made it a prominent player in the crypto mining sector, with other corporations continuing to support the trend of increasing Bitcoin holdings.
