Bitcoin miner CleanSpark sold 426 BTC in July

Quick Take

  • CleanSpark mined 384 BTC in July and sold 426 BTC  to fund growth and operations.
  • The bitcoin miner brought in $8.8 million from the sale.

Bitcoin miner CleanSpark generated roughly $8.8 million from the sale of 426 BTC  in July, based on an average bitcoin price of $20,768. The company expects to use the proceeds to fund its own growth and operations, it said in its most recent monthly update.

CleanSpark announced the purchase of 2,861 mining rigs between June and July, leveraging favorable market conditions to secure a better deal. Last month it acquired 1,061 Whatsminer M30S machines, increasing its total hash rate by 93 petahashes per second (PH/s).

"We are seeing unprecedented opportunities in this market," said Zach Bradford, CEO of CleanSpark. "We believe that our operational strategy focused on efficiency, up-time and execution will allow these metrics to continually improve.”

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As of July 31, CleanSpark had 30,450 miners in its fleet with a total hash rate of 2.9 EH/s.

The company mined 384 BTC in July and held 519 in its reserves by the end of the month.


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About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público