By George Ward
Cleanspark, a Las Vegas-based Bitcoin mining firm, recently released an update on its 2022 operation performance. The report revealed that the firm made a massive achievement as its BTC production increased by 200% last year.
200% Increase In BTC Mining Output In 2022
Cleanspark is a crypto platform that offers users BTC mining services in Las Vegas, Nevada. The firm’s CEO revealed their achievements in 2022 during its end-of-the-year speech.
According to reports, Zach Bradford, the CEO of Cleanspark, stated that amongst the company’s numerous feats last year, he is happy about their rapidly growing production. He added that he is pleased that the firm achieved a massive 200% progress in BTC production across the numerous mining rigs they operate in Georgia.
The CEO added that he and his workers are determined to fulfill the numerous utility cases that Bitcoin offers users, even in adverse market conditions. In addition, he said they are committed to ensuring the platform is safe and secure for millions of customers worldwide that patronize them.
According to the audit, Cleanspark mined about 464 BTC in December alone, bringing the number of BTC mined at the end of 2022 to 4,621 total. In addition to its operation growth, the firm sold about 517 BTC and reserves about 228 BTC as of December 31st.
However, Cleanspark also had its fair share of the adverse market condition that affected miners across the crypto industry last year. The price of the firm’s stocks drastically dropped following the decline of BTC.
Nonetheless, Cleanspark managed to maintain a relatively close valuation before and after the Bitcoin price drop. Furthermore, the company continues to expand the horizon of its operations despite the harsh market condition.
BTC Mining Operations Boomed In 2022
In September, Zack Voell, a crypto mining expert, stated that many energy firms switched occupations to mine BTC without bothering about the numerous deterrent factors in the market. Also, in October, Bitcoin recorded the highest mining statistic.
The released report also showed the mining firm’s comments on how the December winter storm terrorizing America affected its business. The firm said the harsh weather condition rendered about 98% of its mining rig in Georgia malfunctioning. However, they could utilize the machines again when the weather calmed down.