CleanSpark’s Bitcoin treasury has surged to 13,011 BTC, alongside its mining operations achieving an unprecedented 50 EH/s. This dual accomplishment highlights CleanSpark’s simultaneous advancements in asset accumulation and computational capability.
Summary
- CleanSpark’s Bitcoin treasury expanded to 13,011 BTC while reaching 50 EH/s.
- Output in September was 629 BTC, averaging 21 BTC daily.
- Leadership shakeup included a new CEO, CFO, and other C-suite appointments.
As per a press release dated October 3, CleanSpark announced that its Bitcoin (BTC) treasury reached 13,011 BTC at the end of September, coinciding with a record operational hashrate of 50 exahashes per second.
The company’s mining update reported a productive month with an output of 629 BTC, averaging close to 21 BTC per day, while achieving peak fleet efficiency of 16.07 joules per terahash.
CEO Matt Schultz described this period as “monumental,” highlighting the production metrics, a strengthened leadership team, and a $200 million expansion of the company’s bitcoin-backed credit facility.
“Looking forward, the upcoming months and fiscal year signal the start of an exciting new chapter in CleanSpark’s growth journey as we reveal additional value from our energy assets and pipeline to drive long-term shareholder returns. Our business is evolving, and we possess the team, expertise, and resources to excel at the convergence of energy, Bitcoin, and computing,” said Schultz.
CleanSpark’s transformative year and future prospects
CleanSpark states that fiscal year 2025 has been a “transformative” year, characterized by aggressive infrastructure growth and a formalized corporate structure. The company’s hashrate witnessed a leap from 30 EH/s in October 2024 to its current high of 50 EH/s by June 2025.
Importantly, the company emphasized that this growth was achieved solely through self-operated data centers, granting it superior control over operations and margins compared to miners dependent on third-party hosting.
CleanSpark also revamped its executive team. According to the press release, this fiscal year marked the solidification of leadership, with Matt Schultz appointed as CEO and Chairman, Gary Vecchiarelli as CFO and President, and filling other critical C-suite positions, including Chief Business Officer and Chief Operating Officer.
Moreover, CleanSpark advanced its digital asset management approach in Q3 by initiating a derivatives program aimed at optimizing yields on its Bitcoin treasury, managing volatility, and strategically monetizing production without relying on direct spot sales.
Simultaneously, CleanSpark executed a $650 million convertible note offering featuring a 0% interest rate, alongside a share buyback and a capped call, a sophisticated financial tool often utilized to minimize dilution. Additionally, the company secured $400 million in capacity across its bitcoin-backed credit facilities, highlighting an increasing recognition of Bitcoin as credible loan collateral by traditional finance institutions.
