Why Shares Of Bitcoin Miner CleanSpark Are Climbing Monday

CleanSpark, Inc. CLSK shares are trading higher on Monday after the company announced its June 2023 Bitcoin BTC/USD mining update where it reported a 170% quarter-over-quarter increase in its Bitcoin holdings.

The Details:

CleanSpark released its unaudited bitcoin mining and operations update for the month ending June 30 on Monday.

The unaudited Bitcoin mining update reported:

• Bitcoin mined in June: 491
• CY2023 bitcoin mined: 3,495
• Total BTC holdings as of June 30: 529
• Total BTC converted for operations and growth in June: 413
• Currently deployed fleet of about 68,678 latest-generation bitcoin miners with a hashrate of 6.7 EH/s

CleanSpark's operational update reported:

• Dalton - about 1,500 machines currently online with an additional 4,500 machines expected to go live in the coming weeks
• Washington - 50MW expansion is expected to energize by the end of the week with over 14,000 machines ready to start hashing
• Sandersville - land being prepped for the company's planned expansion which will add over 6 EH/s to CleanSpark's mining operations

"We made substantial progress growing our bitcoin holdings this quarter, while continuing to advance our growth plans," said Zach Bradford, CEO of CleanSpark.

"This was a quarter of execution for us, as we expect the Washington expansion to go live later this week. We also anticipate that our recently announced acquisition, two facilities located in Dalton, Georgia, will be fully operational this month. This is a tremendous accomplishment as we work to build some of the finest bitcoin infrastructure in North America."

Related News: Why Canopy Growth Stock Price Is Growing Monday

CLSK Price Action: According to Benzinga Pro, CleanSpark shares are trading over 15% higher at $4.94 at the time of publication.

Image: petre_barlea from Pixabay