CleanSpark, a publicly traded Bitcoin mining company based in Las Vegas, Nevada, has released their December 2022 Bitcoin mining update along with the CEO’s comments for the previous year.
CEO Zach Bradford explained that “among our many accomplishments this year, I’m most proud of increasing our annual Bitcoin production by over 200% as we expanded our fleet and the number of mining campuses we own and operate throughout Georgia.”
He added that CleanSpark is dedicated to Bitcoin’s potential future despite the current bear market, and is honored to be a part of the international network that ensures its security for millions of users worldwide.
CleanSpark mined 464 Bitcoin in December, bringing its total Bitcoin production for the year to 4,621. The company held 228 BTC as of December 31st while selling 517 BTC for operations and expansion.
Cleanspark has experienced a sharp decline in the price of its stock, similar to other publicly traded mining companies this year. Despite this, Cleanspark has continued to grow its business.
Mining expert Zack Voell explained how the energy company turned miner is still expanding despite the multiple challenges the Bitcoin industry is now facing. Along with record-breaking Bitcoin production in October, CleanSpark’s growth was also sustained by ASIC purchases in the months that followed.
The company’s operational reactions to the winter storm that devastated the U.S. in December were also covered in length within the report. 98% of its Georgia-based units had been turned off as a result of the weather. As soon as the temperature and humidity levels permitted, the machines were turned back on.