**CleanSpark Doubles Operating Hashrate, Mining 445 Bitcoin in June**
*By Tanzeel Akhtar*
*Last updated: July 3, 2024, 02:22 EDT | 1 min read*
Bitcoin miner CleanSpark Inc. has reported a significant increase in its Bitcoin production for June, successfully mining a total of 445 Bitcoins. This milestone highlights the company’s remarkable progress in its operational hashrate, which now surpasses 20 exahashes per second (EH/s), effectively doubling since December 2023.
### Strategic Acquisition of Georgia Sites as a Game-Changer
The mid-year hashrate target was achieved primarily due to CleanSpark’s strategic acquisition of five new Bitcoin mining sites in Georgia. These new locations contribute a substantial 60 megawatts (MW) of infrastructure, bolstered by interruptible-load designated power purchase agreements (PPAs) with load balancing capabilities.
### CEO Highlights Teamwork and Dedication
“We have achieved a tremendous milestone on our path to 50 EH/s and beyond. Surpassing 20 EH/s in operational hashrate is more than double our hashrate from December,” stated CleanSpark’s CEO, Zach Bradford. He emphasized that this achievement required immense grit and teamwork, and is a testament to the dedication of their teams. Unlike some industry peers who are diversifying revenue streams, CleanSpark remains laser-focused on increasing its Bitcoin mining hashrate and associated revenues.
### CleanSpark Acquires GRIID
In June, CleanSpark entered into a merger agreement with GRIID Infrastructure Inc., acquiring the company in an all-stock transaction valued at $155 million. This merger enhances CleanSpark’s capabilities through a hosting agreement provided by GRIID, immediately allocating 20 megawatts to CleanSpark and thereby boosting its operational capacity. GRIID operates an R&D center in Texas and an equipment repair center in Tennessee.
### Future Expansion Plans
CleanSpark’s strategy is centered on maximizing efficiency and output at its current sites while exploring future opportunities in new locations such as Wyoming and Tennessee. The acquisition of the Georgia sites has been transformative, providing the necessary infrastructure to exceed hashrate targets and boost Bitcoin production.
With its hashrate doubled since December 2023 and mid-year targets surpassed, CleanSpark is well-positioned for continued growth in the Bitcoin mining industry.
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