- CleanSpark aims for 50 EH/s in the first half of 2025.
- The Bitcoin miner reached 37.5 EH/s in 2024, exceeding its projected hashrate amid expansion efforts.
Bitcoin mining company CleanSpark has exceeded its 2024 operating hashrate target, reaching 37.5 exahashes per second (EH/s) and surpassing its guidance of 37 EH/s. The milestone comes as the company expands its operations across the United States and upgrades its mining fleet.
On Dec. 23, the Nasdaq-listed miner announced it had achieved 37.5 EH/s, accompanied by improved fleet efficiency of 17.7 joules per terahash (J/Th). With that performance, CleanSpark has set a new target of 50 EH/s for the first half of 2025.
300% hashrate growth in 2024
Much of the added hashrate stems from newly energized sites. Strategic acquisitions and fleet upgrades also contributed to the increase. Key additions include new data centers that recently came online in Tennessee and Wyoming, which helped boost overall capacity.
“Our teams have been hard at work throughout the entirety of this past year. We have delivered on our ambitious targets and expanded our hashrate nearly 300% since the beginning of 2024. Achieving 37.5 EH/s with a fleet efficiency of 17.7 J/Th is a significant milestone, and we intend to continue adding highly efficient hashrate through the end of the year and into 2025,” said Zach Bradford, CleanSpark’s CEO and president.
To support continued expansion, CleanSpark recently closed a $650 million convertible bond offering. The company plans to use this capital to fund growth toward the 50 EH/s target and expects to reach that level in the first half of 2025.
Operational updates show continued production and deployment progress. On Dec. 3, CleanSpark reported November production of 622 BTC mined. At the end of November, its operating hashrate was 33.7 EH/s, with 195,059 deployed miners and a reported fleet efficiency of 19.05 J/Th.
As of the end of November, CleanSpark held a total of 9,297 BTC.