Seeking Alpha
2022-10-25 13:48:11

CleanSpark raises 2022 hashrate guidance by 10%

CleanSpark (NASDAQ:CLSK) shares gained ~7% on Tuesday after the bitcoin miner topped year-end guidance over 60 days ahead of schedule, achieving 5 EH/s hashrate.The company seen its hashrate grow 150% since January 2022."The effective deployment of our capital strategy has allowed us to exceed hashrate expectations," said CFO Gary Vecchiarelli.Buoyed by the milestone, the company has raised its year-end hashrate guidance by 10% to 5.5 EH/s. It is also optimistic of meeting its 2023 year-end guidance of 22.4 EH/s.CleanSpark (CLSK) has four owned and operated facilities, about 50,000 bitcoin mining machines operational, and a daily production high of 19.2 bitcoin (BTC-USD).

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