Bitcoin (CRYPTO: BTC) mining stocks CleanSpark Inc (NASDAQ:CLSK) and Riot Platforms Inc (NASDAQ:RIOT) are trading higher Monday after the companies released mining updates for December.

What Happened: CleanSpark mined 668 Bitcoin in December, up from 622 Bitcoin mined in November. CleanSpark said it mined a total of 7,024 Bitcoin in 2024. The company noted that it had 9,952 in total Bitcoin holdings as of Dec. 31.

CleanSpark's average hashrate throughout December was 35.52 EH/s. The company ended the period with an operating hashrate of 39.1 EH/s. CleanSpark noted that it sold 12.65 Bitcoin last month at an average price of approximately $101,246.

CleanSpark also announced the closing of its zero-coupon convertible notes offering and noted that its two Bitcoin mining facilities in Mississippi are now fully operational. The company also said the first phase of its Bitcoin mining site in Jackson, Tennessee has been completed. The second phase is currently underway.

"With the successful closing of a $650 million zero-coupon convertible bond offering in December, we are fully equipped to execute our strategic objectives. As we gear up to achieve 50 EH/s by mid-2025, our growth strategy is not only ambitious but fully funded, positioning CleanSpark to lead the industry into its next phase of innovation and scale," said Zach Bradford, president and CEO of CleanSpark.

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Riot also provided an operational update for December on Monday morning. The company said it mined 516 Bitcoin in December, up from 496 in November. Riot noted that it held a total of 17,722 Bitcoin as of Dec. 31.

Riot's average deployed hashrate was 31.5 EH/s last month, while its average operational hashrate climbed to 27.4 EH/s. The company noted that it finished the installation of the final systems at its Corsicana facility and completed the first 400 MW development phase.

"Our mining operations and strategic purchases made during the year resulted in Riot holding 17,722 bitcoin at the end of 2024, representing a 141% increase in bitcoin held compared to the end of 2023. This has led to a 39% increase in bitcoin held per fully-diluted Riot share, or 'bitcoin yield', and represents a metric we will look to continuously improve upon for the benefit of our shareholders going forward," said Jason Les, CEO of Riot.

CLSK, RIOT Price Action: CleanSpark shares were up 2.64% at $11.09 and Riot shares were up 3.32% at $12.75 at the time of publication Monday, according to Benzinga Pro.

Photo: Gaston Cerliani from Shutterstock.