CleanSpark, a prominent Bitcoin mining company, announced that its Bitcoin treasury surged to 13,011 BTC at the close of September 2025, while its operational hashrate reached a new peak of 50 exahashes per second (EH/s). This dual milestone highlights simultaneous growth in asset accumulation and computational power.
In September alone, the company produced 629 BTC, averaging nearly 21 BTC per day, with fleet efficiency optimizing to 16.07 joules per terahash. CEO Matt Schultz characterized the period as "monumental," emphasizing not only production metrics but also a strengthened leadership team and a $200 million expansion of its Bitcoin-backed credit facility, bringing total capacity to $400 million.
The hashrate journey saw a rapid increase from 30 EH/s in October 2024 to 50 EH/s by June 2025, achieved entirely through self-operated data centers, providing greater operational control and margin advantages over third-party hosting. Executive changes included Matt Schultz as CEO and Chairman, Gary Vecchiarelli as CFO and President, and other key C-suite appointments.
Financially, CleanSpark executed a $650 million convertible note offering with a 0% interest rate, coupled with a share buyback and capped call to limit dilution. The company also advanced its digital asset management strategy by launching a derivatives program to optimize yields on its Bitcoin treasury, manage volatility, and strategically monetize production without resorting to spot sales.
CleanSpark's stock (CLSK) surged over 7% in early trading, reaching $16.22, reflecting market confidence in its strategic growth and credit expansion initiatives. The acquisition of GRIID Infrastructure contributed to this expansion, bolstering its energy portfolio and long-term resilience.