- CLSK +3.73% BTC-USD -1.29%
CleanSpark (NASDAQ: CLSK) reported mining 587 bitcoin in November and increasing its contracted power capacity to 1.45 GW.
The Las Vegas-based bitcoin miner achieved a peak operational hashrate of 50 exahashes per second (EH/s) during the month with a 16.07 joules per terahash (J/TH) energy efficeincy. CleanSpark’s average daily bitcoin production stood at 19.54 BTC.
As of November 30, CleanSpark held a total of 13,054 bitcoin in its treasury. CleanSpark sold 565.41 bitcoin during the month at an average price of $91,979 per bitcoin, generating approximately $52 million in proceeds.
CleanSpark management stated the company’s utilized power capacity reached 808 megawatts to support the operational hashrate.
CEO Matt Schultz noted the company expanded its contracted power by nearly 11 percent during the month, including an additional 125 megawatts in the Tennessee Valley Authority service territory.
During CleanSpark’s FY 2025 earnings call, CleanSpark’s team outlined a strategy to expand into artificial intelligence workloads by acquiring distressed assets. Management highlighted a recently acquired site in Austin County, Texas, with 285 MW of approved power, alongside an expansion at its Sandersville, Georgia, facility as initial targets for AI load.
Schultz indicated the company secured the Texas site by committing to power purchasing timelines of six months, contrasting with the longer timelines often required for greenfield AI campuses.
The company also intends to maintain a dual-load design combining AI campuses with bitcoin mining.
Shultz explained that bitcoin mining will serve as an interruptible load to satisfy utility requirements for load shedding during peak demand. This hybrid approach aims to secure premium-priced long-term tenants for AI infrastructure while preserving flexible load to maintain favorable power rates.
Terms and Privacy Policy Privacy Dashboard More Info