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CleanSpark mined 493 Bitcoin in September

  • CleanSpark also increased its hashrate by 187% between September 30, 2023 and September, 30, 2024.
  • Expansion and acquisitions are crucial for the organic growth.

Bitcoin miner CleanSpark mined a total of 493 BTC in September, according to details in an unaudited update published on Oct. 4.

This brought the company’s total bitcoin mined year-to-end of September to 5,079.

Moreover, total BTC mined in FY2024 rose to 7,098. With these figures, the total Bitcoin treasury holdings rose to 8,049 as of Sept. 30. While the increase marked a 258% spike over the past year as of the end of Sept., CleanSpark noted it sold 2.5 BTC during the month.

Hashrate jumped to 27.6 EH/s

CleanSpark, a publicly-traded miner whose share price also rose significantly in the past year, also announced a surge in its hashrate.

As of September 30, 2024, CleanSpark’s hashrate stood at 27.6 EH/s – up from 9.6 EH/s and indicating a one year increase of 187%. The company added 5 EH/s to its capacity in September.

In a comment, CleanSpark CEO Zach Bradford said:

“During the past year, we grew our hashrate from 9.6 EH/s to 27.6 EH/s, or 187%, with 5 EH/s coming online just during the month of September. The Company executed its plan to strategically diversify its portfolio across three new states and completed multiple expansions at existing data centers.”

What helped CleanSpark to grow its hashrate?

Growth was down to CleanSpark getting through the pre-halving and post-halving period and the closure of multiple acquisitions. It includes the GRIID Infrastructure deal and expansion to new sites in the US.

With the expansion efforts, and emerging from Hurricane Helene relatively unscathed means further hashrate growth. According to Bradford, CleanSpark could hit 30 EH/s by the end of October 2024 and forecast 50 EH/s in 2025.

The Bitcoin miner released its unaudited update as BTC price struggled amid negative sentiment around geopolitical chaos in the Middle East. At the time of writing, the flagship cryptocurrency traded around $60,663, down 1.5% in the past 24 hours and -7.3% over the past week.

CLSK, on the other hand, changed hands at $8.58, about 2.5% down on the day. The crypto stock was down 17.7% in the past five days.

The post CleanSpark mined 493 Bitcoin in September appeared first on CoinJournal.

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Visa unveils tokenized digital asset platform

  • Visa plans to help banks explore blockchain technology and smart contracts with fiat-backed tokens.
  • The digital payments giant has unveiled a tokenization platform for this – called Visa Tokenized Asset Platform (VTAP).
  • BBVA plans to launch its own stablecoin in partnership with Visa in 2025.

Visa has launched a new service aimed at helping financial institutions with the issuance and management of fiat-backed tokens.

The company announced its blockchain project dubbed Visa Tokenized Asset Platform (VTAP) on Oct. 3, and will allow partners to create and trial various tokenized assets.

VTAP offers a B2B solution which banks can leverage to integrate blockchain technology to bring fiat currencies on-chain. The venture will allow for the creation of stablecoins and other fiat-backed tokens.

“Visa has been at the forefront of digital payments for nearly sixty years, and with the introduction of VTAP, we are once again setting the pace for the industry,” Vanessa Colella, global head of innovation and digital partnerships at Visa, said in a statement.

BBVA to launch Visa-backed stablecoin

According to Visa, banking giant BBVA is set to tap into VTAP for its stablecoin project expected to launch in 2025.

BBVA has explored the VTAP sandbox throughout 2024, testing core functionalities ahead of a live pilot of its stablecoin in 2025. The launch will be on the Ethereum network.

“This collaboration marks a significant milestone in our exploration of the potential of blockchain technology and will ultimately help enable us to broaden our banking services and expand the market with new financial solutions,” said Francisco Maroto, head of blockchain and digital assets at BBVA.

With VTAP, banks can leverage stablecoins within smart contracts, allowing for the digitization and automation of workflows. This will also help power adoption of real-world assets, with banks for instance using the technology to manage complex lines of credit or smart contracts-enabled payments.

Bank customers can also utilize fiat-backed tokens to buy tokenized commodities or treasuries.

Such products include the Franklin Templeton fund FOBXX, which the asset manager just expanded to Aptos.

The post Visa unveils tokenized digital asset platform appeared first on CoinJournal.