CleanSpark Exceeds 2024 Year-End Guidance of 37 EH/s and Accelerates 2025 Guidance

Core Insights - CleanSpark has achieved an operating hashrate of 37.5 EH/s, exceeding its previous year-end target of 37 EH/s, with a fleet efficiency of 17.7 J/Th [3][4][8] - The company has accelerated its guidance for reaching 50 EH/s, now expected in the first half of 2025, supported by a recent $650 million zero-coupon convertible bond offering [5][8] - CleanSpark's bitcoin treasury balance is approaching 10,000 bitcoin, all of which have been mined by the company [5] Financial Performance - The company reported a nearly 300% increase in hashrate since the beginning of 2024 [4] - December has been highlighted as one of CleanSpark's strongest strategic months, with the capital raised expected to fully fund the expansion to 50 EH/s [5] Strategic Growth - The recent energization of new data centers in Tennessee and Wyoming is part of a multistage process aimed at increasing hashrate and fleet efficiency [8] - The growth strategy includes a mix of greenfield infrastructure development, organic growth through existing site expansion, and strategic mergers and acquisitions, all funded by the recent capital raise [8] Operational Excellence - CleanSpark operates a portfolio of mining facilities across the United States, leveraging globally competitive energy prices to optimize mining operations [9] - The company emphasizes its focus on bitcoin mining and operational excellence to deliver superior returns to shareholders [9]