Bitcoin mining company CleanSpark announced that as of the end of September, its treasury held a total of 13,011 bitcoins after reporting year-on-year efficiency and production growth.
The company stated that its monthly production increased by 27% compared to September 2024, with a total of 629 bitcoins (BTC) mined, of which 445 were sold at an average price of $109,568, generating approximately $48.7 million in transaction value. In a Friday update, CleanSpark reported a 26% year-on-year improvement in mining machine efficiency, with an average monthly hash rate of 45.6 EH/s.
Since April of this year, CleanSpark has begun selling a portion of its monthly bitcoin production to promote financial self-sufficiency and has established an institutional bitcoin trading desk to facilitate sales. In August, the company generated $60.7 million by selling 533.5 bitcoins.
Following the announcement, CleanSpark's stock price rose by 5.28% on Nasdaq, with a cumulative increase of over 23% last week, according to Yahoo Finance.
According to a report by The Miner Mag on October 1, the market capitalization of 15 major publicly listed bitcoin mining companies reached a record $58.1 billion in September, up from $41.6 billion in August and more than double the $19.9 billion in March.
Although investors remain interested in publicly listed mining companies, the industry is facing challenges such as rising energy costs and the threat of import tariffs on mining machines.
According to The Miner Mag, in 2024, the U.S. Customs and Border Protection (CBP) claimed that some of CleanSpark's mining machines are produced in China, and the company may face tariff liabilities of up to $185 million.
The largest bitcoin mining company by market capitalization, Iris Energy (IREN), is also contesting another $100 million tariff dispute with the CBP.
As reported by Cointelegraph in August, the effective tariff on mining machines made in China is 57.6%, while the tariff on machines from Indonesia, Malaysia, and Thailand is 21.6%.
Additionally, the difficulty of bitcoin mining reached an all-time high in September and October, meaning miners need to invest more hash power and energy to mine the same amount of bitcoin.
Related: Ethereum Foundation exchanges 1,000 ETH for stablecoins for research and funding
Original article: “CleanSpark sells $48.7 million in bitcoin, treasury surpasses 13,000 BTC in September”
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