CleanSpark Announces Additional 1,000 Unit ASIC Bitcoin Miner Order for January Delivery

Rhea-AI Summary

CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 1,000 additional ASIC Bitcoin miners, set for delivery next month. This follows a previous order of 500 ASICs, enhancing the company’s mining capacity by over 100 PH/s, reaching approximately 300 PH/s. CleanSpark aims to capitalize on rising Bitcoin prices and the demand for efficient mining operations. CEO Zachary Bradford emphasized the strategic advantage of acquiring miners for immediate deployment, positioning the company for substantial returns in the growing Bitcoin market.

Positive

• Acquisition of 1,000 additional ASIC miners increases total capacity to approximately 300 PH/s.
• Strategic focus on immediate deployment capitalizes on rising Bitcoin prices.

Negative

• None.

SALT LAKE CITY, Dec. 22, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, is pleased to announce that it has secured an additional 1,000 ASICs (Application-specific integrated circuit) Bitcoin miners, slated for delivery and commissioning in the coming month. This order, when paired with the 500 ASICs announced last week and installation of the new S19s, is expected to increase the Company's mining capacity by more than 100 PH/s to approximately 300 PH/s. 

CleanSpark's Bitcoin Mining Capacity to Increase More Than 33%

"We are excited about demonstrating the efficiency of microgrid solutions on high-density energy operations. As we work towards the implementation of the facility power system upgrade, our focus is on maximizing the total Bitcoin output by immediately adding ASICs. In the Bitcoin mining industry, time is money, and due to the meteoric rise in price, ASIC miners are exceedingly difficult to procure. Many mining companies, both publicly traded and privately held, have stated plans to expand capacity in six to nine months, however we have focused on sourcing units for immediate deployment. As Bitcoin prices have continued to rise, and industry leaders such as Square, PayPal, MicroStrategy and others have made substantial investments in Bitcoin, we believe this strategy will provide exceptional returns for our shareholders," stated Zachary Bradford, CleanSpark's President and Chief Executive Officer. "This opportunity presented us a chance to deploy additional resources in furtherance of our strategy to utilize the available energy supply in the most efficient and profitable manner possible," concluded Bradford.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com.

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services. 

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA, just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services. 

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the value of Bitcoin, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our 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 to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

View original content to download multimedia:http://www.prnewswire.com/news-releases/cleanspark-announces-additional-1-000-unit-asic-bitcoin-miner-order-for-january-delivery-301197386.html

SOURCE CleanSpark, Inc.

FAQ

What is CleanSpark's recent ASIC miner acquisition?

CleanSpark secured 1,000 additional ASIC miners, boosting their capacity to around 300 PH/s.

How much will CleanSpark's mining capacity increase?

The mining capacity will increase by over 100 PH/s to approximately 300 PH/s.

What is the significance of CleanSpark's ASIC miner orders?

The orders are strategic to leverage rising Bitcoin prices and improve operational efficiency.

When are the new ASIC miners expected to be deployed?

The newly ordered ASIC miners are slated for delivery in January.