Cleanspark’s Bitcoin Mining Expansion Continues Despite Market Downturn

• Cleanspark, a publicly-traded bitcoin miner based in Las Vegas, Nevada, announced their December 2022 bitcoin mining update.
• In December, the company mined a total of 464 bitcoin and held 228 bitcoin while selling 517 bitcoin for operations and growth.
• Despite the decline in the price of bitcoin, Cleanspark has maintained a steady valuation, and has continued to expand its operations with ASIC acquisitions and record bitcoin production in October.

Cleanspark, a publicly traded bitcoin miner based in Las Vegas, Nevada, has seen tremendous growth in its operations since the start of 2022. In the month of December, the company mined a total of 464 bitcoin and held 228 bitcoin while selling 517 bitcoin for operations and growth. With this, the company concluded 2022 with a total of 4,621 bitcoin mined.

This success came despite a downturn in the price of bitcoin, which had similar effects on the company’s stock price. However, when priced in bitcoin, Cleanspark has maintained a relatively steady valuation, and has continued to expand its operations. This was seen in September with the acquisition of more ASICs, as well as a record production of bitcoin in October.

The December report also detailed the company’s operational reactions to the winter storm which ravaged the United States that month. 98% of the company’s machines present in Georgia were powered down due to the conditions, but were turned back on as soon as the temperature and humidity levels permitted.

Commenting on the year, CEO Zach Bradford said, “Among our many accomplishments this year, I’m most proud of increasing our annual bitcoin production by over 200% as we expanded our fleet and the number of mining campuses we own and operate throughout Georgia. Even in this down market, we are committed to the promise of bitcoin and are proud to be part of the global network that keeps it secure for millions of users across the world.”

Cleanspark’s success in 2022 is a testament to the company’s commitment to the promise of bitcoin, as well as its ability to remain resilient in the face of market downturns. With more acquisitions and record production, the company looks poised to continue expanding its operations and making strides in the bitcoin mining sector.