Bitcoin -miner CleanSpark has published its financial report for the fourth quarter of 2024, according to which its revenue amounted to $162,3 million. This is 120% more than for the same period in 2023, with the marginal cost of bitcoin being approximately $34,000 per mined coin.
We continue to invest in ourselves because we believe there is no need to buy bitcoin at current spot prices when we can mine it for $34,000," said CleanSpark CFO Gary Vecchiarelli.
CleanSpark is one of the "clean" miners that prefers to focus on mining Bitcoin rather than investing in data centers like its competitors do.
As of December 31, 2024, CleanSpark's total assets were $2,8 billion, including $929,1 million in Bitcoin.
We have overcome almost all the consequences of the halving, while increasing our Bitcoin - reserves of up to 10 coins, 500% of which were mined entirely by CleanSpark and exclusively in the US, Vecchiarelli noted.
CleanSpark plans to reach 2025 EH/s in the first half of 50 by expanding its capacity in Wyoming, Tennessee and Georgia.
Our regional expansion strategy was developed and refined in Georgia, and we are now implementing it nationally,” said CleanSpark CEO Zach Bradford.
