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Analysis

CleanSpark’s bitcoin holdings fall despite September production

CleanSpark’s September production totalled 529 bitcoin, but its month-end holdings fell to 13,530 from 13,703 in August. The company sold two bitcoin on the spot market and delivered another 700 through exercised call options. Its unaudited update also disclosed derivative-related collateral or receivables and announced a move from monthly operational releases to quarterly reporting.

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Two Bitcoin mining units and a small Bitcoin token on a steel loading cart.

September production reaches 529 bitcoin

CleanSpark, a bitcoin miner and data centre infrastructure developer, reported production of 529 bitcoin during September and holdings of 13,530 bitcoin at month-end. Its unaudited figures, released on 9 October, cover the period ending 30 September. The company is also changing the frequency of its operational disclosures, moving from monthly updates to quarterly reporting.[1], [2]

Bitcoin sales exceed the month’s production

CleanSpark began the month with 13,703 bitcoin. It sold two bitcoin on the spot market and another 700 through exercised call options, contracts giving the buyer the right to purchase bitcoin. Of the total holdings, 3,475 bitcoin was reported as collateral posted or receivables associated with derivatives transactions; the disclosure combines those two categories.[1]

Computing power and electricity capacity describe the mining fleet

Average operational computing power was 36 exahashes per second, a measure of the fleet’s mining calculation rate. The historical peak was 50 exahashes per second. CleanSpark operated 199,745 mining machines, with contracted power capacity of 1.8 gigawatts and peak concurrent consumption of 808 megawatts. Contracted capacity covers owned or leased facilities and excludes non-binding agreements. Average daily production was 17.64 bitcoin, and the highest daily output was 18.99 bitcoin.[1]

References

  1. News sourceCleanSpark (PR Newswire)CleanSpark bitcoin holdings fall to 13,530 in September↩1↩2↩3
  2. News sourceThe Crypto BasicCleanSpark reports 13,530 bitcoin holdings at September end↩