The popular Bitcoin (BTC) miner “CleanSpark” brought about $8.8 million from selling 426 BTC in July, based on the average price of the largest cryptocurrency at $20,768. However, the company stated in a new update that it expects to use this money to fund its own growth and operations. Read more [Earnings of Bitcoin Miners Dropped 16.7% in A Month].
Moreover, the company did announce purchasing about 2,861 mining rigs between both June and July, benefiting from the favorable market conditions to secure a better deal. Also, CleanSpark acquired about 1,061 Whatsminer M30S machines last July, increasing its total hash rate by 93 petahashes per second (PH/s).
“We are seeing unprecedented opportunities in this market,” said Zach Bradford, CEO of CleanSpark. “We believe that our operational strategy focused on efficiency, up-time and execution will allow these metrics to continually improve.”
As on July 31, the company had 30,450 miners in its fleet with a total hash rate of 2.9 EH/s. CleanSpark did also mine about 384 BTC in July and held 519 in its reserves by the end of the month.
By the time of writing this article, Bitcoin is trading at $23,480.26 in green.