CleanSpark (CLSK) announced it has achieved and exceeded the previously announced year-end target of 37 EH/s of operating hashrate. The company’s newest data centers in Tennessee and Wyoming were energized last week. This is part of a multistage energization process that will continue into the next quarter. The added hashrate from these sites paired with site expansion, and ongoing fleet upgrades, has allowed the company to exceed 2024 YE guidance and deliver 37.5 EH/s of operating hashrate. Fleet efficiency has reached 17.7 J/Th and is expected to continue to improve as the company continues its strategic growth plans. The company expects its operating leverage to continue to increase as it proceeds with its next phase of growth to 50 EH/s, which is fully funded and expected in the first half of 2025. This growth is expected to be achieved through a mix of greenfield infrastructure development, organic growth via existing site expansion, and strategic M&A, all funded with a portion of the proceeds of the company’s most recent offering. The current portfolio of data centers includes locations in Georgia, Wyoming, Tennessee, Mississippi, and New York.
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