Nasdaq-listed miner posts stronger output, improved efficiency, and expanding treasury amid rising industry headwinds.
Bitcoin mining firm CleanSpark reported strong operational results for September, boosting investor confidence as the company’s BTC holdings climbed to 13,011, even after selling a portion of its production for $48.7 million.
The Nasdaq-listed miner said it produced 629 Bitcoin during the month — a 27% increase from September 2024 — and sold 445 BTC at an average price of around $109,568. The company’s fleet efficiency improved by 26% year-over-year, while its average operating hashrate reached 45.6 EH/s, reflecting growing productivity across its mining sites.
Shares of CleanSpark rose 5.28% on Friday, extending their weekly gains to over 23%, supported by optimism over the company’s self-sustaining operations and expanding treasury.
CleanSpark’s Self-Funding Strategy Strengthens Financial Position
Since April, CleanSpark has pursued a “sell-to-sustain” strategy, offloading part of its monthly Bitcoin output to cover operational costs and reinvest in growth. The company also launched an institutional Bitcoin trading desk earlier this year to streamline its sales process and improve liquidity.
In August, CleanSpark generated $60.7 million from the sale of 533.5 BTC, marking its strongest month to date.
“Our focus remains on efficiency and disciplined capital management,” a company representative said, noting that the firm’s strategy has allowed it to expand without relying heavily on external financing.
Bitcoin mining difficulty over 3 years. : Coinwarz.com
The broader Bitcoin mining sector also recorded impressive growth. According to industry data, the market capitalization of 15 major public miners surged to $58.1 billion in September, up from $41.6 billion a month earlier — more than doubling since March.
Despite the upbeat outlook, the mining industry faces mounting challenges from tariffs and rising energy costs. CleanSpark and several peers were recently notified by U.S. authorities about potential tariff liabilities of up to $185 million on China-manufactured mining rigs.
Meanwhile, Bitcoin mining difficulty hit record highs in September and October, forcing miners to spend more energy to produce each BTC.
Still, CleanSpark’s growing efficiency and strong treasury position may help the firm weather these pressures while positioning it for long-term growth in the Bitcoin mining cycle.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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