CleanSpark Sees Significant Rise in Bitcoin Production

CleanSpark’s Bitcoin mining output increased by over 9% in May, bringing its total holdings to 12,502 BTC—twice the amount from the same period last year.

The company reported mining 694 BTC in May, which is a 9.4% rise from April’s 633 coins. Their hashrate also improved significantly, reaching 45.6 exhaush and expanding its contract capacity to 987 MW.

“May was a month of strong execution for CleanSpark,” said CEO Zach Bradford. He noted that they raised their end-of-month hashrate by 7.5% while enhancing average fleet efficiency.

With the Bitcoin Treasury hitting 12,502 BTC, CleanSpark saw a 103% increase in reserves compared to the previous year. This growth is attributed to mining activities, excluding any share issuances since November 2024. Bradford mentioned that this development validates their infrastructure-focused strategy, as the firm stands as the sixth largest public Bitcoin holder.

Following this strong performance, CleanSpark’s shares climbed 6.5% on June 3rd.

Over the last month, their stock has risen 12.4%, according to Google Finance, which also notes that this trend mirrors the Nasdaq’s performance in the same timeframe.

In May 2025, CleanSpark sold 293.5 BTC at an average price of $102,254 per coin, totaling about $30 million in gross sales. Their revenue for the second quarter of 2024 was reported at $182 million, marking a 62.5% increase year-over-year, despite a net loss of $139 million.

Competition Grows in the Mining Sector

CleanSpark faces increasing competition from other miners. Crypto miner Mara produced 950 Bitcoins in May, up 34.8% from April’s output of 705. They averaged 7.2 BTC per day.

Riot Platforms also experienced growth, mining 514 BTC in May—a notable 11% increase over April’s 463.

Like CleanSpark, both Mara and Riot have witnessed their stock prices rise recently. Mara’s shares surged 8%, while Riot’s increased by 6.5% during this reporting period.