CleanSpark Still Has 13K Bitcoin On Its Books, But It's Ending Its Monthly Updates As Data Center Buildout Accelerates

CleanSpark Ends Monthly Updates as Data Center Buildout Accelerates

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Project Funding

CleanSpark said its Sandersville data center project in Georgia is fully funded through completion after the closing of $2.276 billion in senior secured notes.

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Revenue Projections

The Sandersville project is expected to generate approximately $6.6 billion in contracted revenue over its initial lease term under an agreement with a Meta subsidiary.

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Operations

CleanSpark reported an average daily production of 17.64 BTC in September, with peak daily output of 18.99 BTC.

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Hashrate and Miners

The company had 199,745 miners deployed at the end of September, alongside a contracted power portfolio of 1.8 gigawatts (GW).

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BTC Holdings

CleanSpark ended September with 13,530 BTC, down from 13,703 BTC at the end of August.

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Sales

The company produced 529 BTC during the month, sold two BTC at spot prices, and sold another 700 BTC through call exercises.

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Pricing

Bitcoin’s price was trading close to hitting $83,000 at the time of writing, gaining around 1% in the last 24 hours, following a dip below $81,000 in the previous session, which liquidated nearly $1 billion in cryptocurrency bets.

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CEO Commentary

CEO and Chairman Matt Schultz said the company’s Sandersville project is fully funded following the September closing of $2.276 billion in senior secured notes carrying a 7.875% annual interest rate and maturing in 2031.

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Conclusion

CleanSpark is accelerating its data center buildout, with a focus on commercial opportunities and monetizing contracted power through Bitcoin mining.