In June, CleanSpark increased its Bitcoin (CRYPTO:BTC) production by 6.7%, mining 445 BTC and surpassing its mid-year hashrate target of 20 exahashes per second (EH/s), reaching 20.4 EH/s.

This achievement, driven by the installation of 1.7 EH/s of new miners at its five Georgia facilities, doubles the hashrate since December 2023.

The miner’s Bitcoin holdings now total 6,591 BTC, valued over $4 billion, with only 8 BTC sold in June.

CleanSpark’s CEO, Zach Bradford, emphasised their focus on expanding mining capacity to reach 50 EH/s, rather than diversifying into other revenue streams like AI or cloud computing, unlike some competitors.

The company also recently completed a $155 million merger with GRIID Infrastructure, enhancing its power capacity by 20 megawatts.

Despite these advancements, CleanSpark’s stock fell by 5.5% on July 2 but remains significantly up 55.6% this year.