CleanSpark increased its Bitcoin mining output by over 9% in May, producing 694 BTC compared to 633 in April, and boosting its total treasury to 12,502 BTC, double the amount from the previous year. The company achieved a 45.6 exahash rate, marking a 7.5% sequential increase, and expanded its power capacity to 987 MW. CEO Zach Bradford described May as a strong execution month, validating the company's infrastructure-first strategy. In terms of financials, CleanSpark sold 293.5 BTC for approximately $30 million in revenue but reported a net loss of $139 million despite a 62.5% revenue increase in Q2 2024 to $182 million. Competitors like Marathon Digital (MARA) and Riot Platforms also increased their Bitcoin production, with MARA mining 705 BTC and Riot producing 514 BTC in May. Share prices for CleanSpark and its competitors have seen recent increases as they ramp up production efforts.

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