American mining company CleanSpark in the second quarter of fiscal 2023 doubled the number of bitcoins mined compared to the same period last year.
At the same time, its income increased only by 14%, to $42.5 million.
According to CleanSpark CFO Gary Vecchiarelli, this is largely due to the low prices of the first cryptocurrency during this period.
“Our bitcoin revenue this quarter was roughly $22,700, up from over $41,000 last year,” he said.
The top manager added that the increase in mining capacity of the company creates “good opportunities to take advantage of even the slightest increase in prices for the first cryptocurrency.”
CleanSpark CEO Zack Bradford mentioned the importance of increasing the hashrate ahead of the halving. The event, in which the block reward will be reduced from 6.25 BTC to 3.125 BTC, is scheduled tentatively for April 2024.
The current CleanSpark fleet consumes an average of 31 W/TH, by the end of the year the company expects this to drop to 26 W/TH.
Recall that in April, CleanSpark announced the purchase of 45,000 Antminer S19 XP ASIC miners for a total of $144.9 million. In February, the company acquired 20,000 Antminer S19j Pro +. All of them will be connected to two data centers in Georgia by the end of the year and will provide the company with about 15.9 EH / s of total hashrate.
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American mining company CleanSpark in the second quarter of fiscal 2023 doubled the number of bitcoins mined compared to the same period last year.
At the same time, its income increased only by 14%, to $42.5 million.
According to CleanSpark CFO Gary Vecchiarelli, this is largely due to the low prices of the first cryptocurrency during this period.
“Our bitcoin revenue this quarter was roughly $22,700, up from over $41,000 last year,” he said.
The top manager added that the increase in mining capacity of the company creates “good opportunities to take advantage of even the slightest increase in prices for the first cryptocurrency.”
CleanSpark CEO Zack Bradford mentioned the importance of increasing the hashrate ahead of the halving. The event, in which the block reward will be reduced from 6.25 BTC to 3.125 BTC, is scheduled tentatively for April 2024.
The current CleanSpark fleet consumes an average of 31 W/TH, by the end of the year the company expects this to drop to 26 W/TH.
Recall that in April, CleanSpark announced the purchase of 45,000 Antminer S19 XP ASIC miners for a total of $144.9 million. In February, the company acquired 20,000 Antminer S19j Pro +. All of them will be connected to two data centers in Georgia by the end of the year and will provide the company with about 15.9 EH / s of total hashrate.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!