Charles Esther
CleanSpark reported a significant increase in its Bitcoin mining production in May, with output rising by more than 9%.
The company mined 694 Bitcoin (BTC) coins in May, up from 633 in April, marking a 9.4% growth in monthly production.
This boost contributed to CleanSpark’s Bitcoin treasury reaching 12,502 BTC, which is double the amount it held at the same time last year.
CleanSpark also improved its mining infrastructure, achieving a hashrate of 45.6 exahashes per second (EH/s) in May, up from 42.4 EH/s in April.
Additionally, the company expanded its contracted power capacity to 987 megawatts (MW), supporting its growing mining operations.
Zach Bradford, CleanSpark’s CEO and president, described May as a “strong execution month.”
He highlighted the sequential 7.5% increase in month-end hashrate and the improvement in average fleet efficiency.
The company emphasized that its Bitcoin treasury expansion is directly linked to mining operations.
CleanSpark has not issued any equity since November 2024, underscoring organic growth in its BTC reserves.
Currently, CleanSpark ranks as the sixth-largest public Bitcoin holder, demonstrating the success of its infrastructure-first strategy.
On June 3, the day the company announced its May performance, CleanSpark’s shares rose 6.5% intraday.
Over the past month, CleanSpark’s shares have increased 12.4%, outperforming the Nasdaq during the same period.
In May 2025, CleanSpark sold 293.5 BTC at an average price of $102,254 per coin, generating approximately $30 million in gross sales revenue.
Despite growing revenue, CleanSpark posted a net loss of $139 million in the second quarter of 2024.
However, the company’s revenue increased 62.5% year-over-year to $182 million in that quarter.
CleanSpark’s Competitors Also Increase Bitcoin Production
CleanSpark is not alone in ramping up Bitcoin mining production.
Crypto miner Marathon Digital Holdings (MARA) mined 950 Bitcoin in May, a 34.8% increase from 705 BTC in April.
On average, MARA mined an additional 7.2 Bitcoin per day during the month.
Riot Platforms also reported growth, mining 514 Bitcoin in May compared to 463 in April — an 11% increase.
Like CleanSpark, both MARA and Riot Platforms have experienced share price gains in recent days.
MARA’s shares rose 8% on the day of reporting, while Riot Platforms’ shares increased by 6.5%.
These developments highlight a competitive and growing Bitcoin mining industry driven by expanding infrastructure and rising Bitcoin demand.
