As Bitcoin Reaches All-time Highs, Sustainable Bitcoin Miner CleanSpark Adds New Miners
CleanSpark, Inc. (Nasdaq: CLSK) has announced the purchase of 2,250 Antminer S19j pro bitcoin mining machines, set to enhance its capacity by 225 PH/s. The delivery schedule extends from next month through July 2022, with a total of 26,830 miners expected over the next year. CleanSpark plans to utilize a portion of its bitcoin holdings to finance these acquisitions, continuing its strategy of leveraging digital assets. The company currently operates over 10,000 miners, reinforcing its position in sustainable bitcoin mining.
- Acquisition of 2,250 Antminer S19j pro machines will boost hashrate by 225 PH/s.
- Total of 26,830 new miners planned for delivery over the next 12 months.
- Dependence on BTC holdings for financing may signify liquidity concerns.
- Future expansion is contingent on successful logistics and shipping amidst global challenges.
Delivery of the rigs will add 225 PH/s of hashrate capacity; 26,830 new miners now slated for delivery over next 12 months
SALT LAKE CITY, Oct. 20, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today announced the purchase of an additional 2,250 units of the Antminer S19j pro bitcoin (BTC) mining machine. Delivery of the machines are scheduled to start next month and be completed by July 2022.
CleanSpark estimates that its sustainable bitcoin mining capacity will increase by an additional 225 PH/s. The Company expects to have the data center space for the machines ready to plug and play in time for each consecutive delivery. The Company currently operates more than 10,000 miners. The total number of miners slated for delivery over the next 12 months is now 26,830.
CleanSpark announced earlier this month that it used some of the Company’s BTC holdings towards the purchase of 4,500 units and intends to execute a similar strategy for future payments of these units.
About CleanSpark
CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is focused on solving modern energy challenges. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations.
Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on logistics and shipping and the demand for our products and services; and other risks described in the Company's prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.
Investor Relations Contact:
Matt Schultz
ir@cleanspark.com
Media Contacts:
Isaac Holyoak
pr@cleanspark.com
BlocksBridge Consulting
Nishant Sharma
cleanspark@blocksbridge.com
FAQ
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