CleanSpark has significantly increased its capacities through a series of strategic acquisitions, leading to a 187% rise in its hashrate over the past year.

CleanSpark's Strategic Acquisitions

CleanSpark executed its plan to strategically diversify its portfolio by expanding into three new states. The company recently acquired five facilities in Georgia and three more in Mississippi. Additionally, it announced the acquisition of seven facilities in Knoxville, Tennessee, with a total capacity of 85 MW. This deal, valued at $27.5 million, is expected to boost its hashrate by 22%.

Current Operations and Achievements

As of September, the company mined 493 Bitcoin, bringing the total for the fiscal year to 7,098 BTC. CleanSpark has a deployed fleet of 188,520 miners and a fleet efficiency of 21.94 Joules per Terahash. Last month, it sold 2.5 BTC at an average price of $58,287 per coin.

Future Plans and Forecasts

Despite recent weather disruptions from Hurricane Helene, the company expects to achieve a hashrate of 30 EH/s by October 2024 and targets 50 EH/s in the 2025 fiscal year. CleanSpark's stock on Nasdaq is down 12% year to date, though its share price increased 145% during this rapid growth period.

CleanSpark is aggressively expanding its capacities amidst global growth in the cryptocurrency mining industry, as evidenced by its significant hashrate increase and ambitious growth plans.