CleanSpark bitcoin production climbs 16% M/M in May

CleanSpark ( NASDAQ: CLSK ) mined 609 bitcoins ( BTC-USD ) in May, up from the 524 produced in the prior month, thanks to "increases in operational efficiency and a brief, albeit significant, increase in transaction fees," CEO Zach Bradford said in a statement Friday. Fees were elevated for some five days in May "because of increased interest in ordinals on the blockchain," he added. "At its peak, our bitcoin production jumped to nearly 30 bitcoins in a single day, almost double our normal daily production of about 18 bitcoins. Since then, transaction fees have normalized.” Fellow BTC miner Cipher Mining ( CIFR ) also attributed its May BTC production growth of 21% to "the sharp increase in transaction fees that we saw during the month." Also during the month, CleanSpark ( CLSK ) sold 471 bitcoins ( BTC-USD ) for proceeds of around $12.9M to help fund growth and operations. As of May 31, the company had a deployed fleet of about 67,196 BTC miners with 6.7 exahashes per second (EH/s) of mining capacity. More on CleanSpark CleanSpark purchases 12,500 new bitcoin mining machines CleanSpark posts Q2 earnings beat as bitcoin rebound boosts gross profit margins CleanSpark: Production Growth Is On Track