CleanSpark Announces April 2022 Bitcoin Production

Rhea-AI Summary

CleanSpark, a sustainable bitcoin mining and energy technology company, reported its bitcoin production update for April 2022. The company produced 313 bitcoins in April, totaling 1,211 BTC year-to-date as of April 30. They currently hold 448 BTC and converted 285 BTC to fund operations, yielding approximately $11.9 million in proceeds. The firm operates over 24,000 miners with a hashrate of 2.4 EH/s, with installations ongoing at its facilities in Norcross, College Park, and Coinmint.

Positive

• April bitcoin production reached 313 BTC.
• Year-to-date production totals 1,211 BTC.
• Total BTC holdings stand at 448 as of April 30.
• Converted 285 BTC generated approximately $11.9 million for growth capital.

Negative

• None.

LAS VEGAS, May 05, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today released its unaudited bitcoin production and operations update for the calendar year-to-date ending April 30, 2022.  

Bitcoin Production & Operations Update (unaudited) 

• April monthly production: 313 
• Calendar year-to-date production ending April 30: 1,211 
• Total BTC holdings as of April 30: 448 
• Total BTC converted for operations and growth in April: 285 
• Currently deployed fleet of over 24,000 latest-generation bitcoin miners with a total hashrate of 2.4 EH/s  

The Company fully funded growth and operations through the sale of 285 bitcoins in April 2022 at an average of approximately $41,764 per BTC. Sales of BTC equated to proceeds of approximately $11.9 million, most of which were used for growth capital expenditures at the company’s Norcross facility. April daily BTC production reached a high of 10.75. 

Location-specific Operational Updates  

• Norcross. Miner installations continue, with about 1,200 immersion-cooled S19j pros hashing as of April 30. “We are executing in phases to ensure maximum value in terms of overclocking and efficiency,” said Zach Bradford, CEO. “We expect to see our installations and associated hashrate continue to increase as we fine-tune our processes.” 
• College Park. The Company is delivering on efficiency and uptime, with approximately 12,000 latest generation miners hashing at the facility. 
• Coinmint. The Company continues to expand its relationship with approximately 11,000 machines hashing at the facility.  

• Lancium. An agreement for up to 500MW was signed in late March with operations expected to commence in Q4 2022. 

About CleanSpark  

CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is 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 press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release, but are not limited to statements regarding our future results of operations and financial position, industry and business trends, equity compensation, business strategy, plans, market growth and our objectives for future operations. 

The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; the successful deployment of energy solutions for residential and commercial applications; 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. The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. 

You should read this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. 

Investor Relations Contact
Matt Schultz 
ir@cleanspark.com  

Media Contacts  
Isaac Holyoak                                            
pr@cleanspark.com      

BlocksBridge Consulting 
Nishant Sharma 
cleanspark@blocksbridge.com  

FAQ

What were CleanSpark's bitcoin production numbers for April 2022?

CleanSpark produced 313 bitcoins in April 2022.

How many bitcoins did CleanSpark hold as of April 30, 2022?

CleanSpark held 448 bitcoins as of April 30, 2022.

What was CleanSpark's total bitcoin production year-to-date as of April 30, 2022?

The total bitcoin production year-to-date was 1,211 BTC.

How much revenue did CleanSpark generate from bitcoin sales in April 2022?

CleanSpark generated approximately $11.9 million from the sale of 285 bitcoins in April 2022.

What is CleanSpark's current hashrate and mining capacity?

CleanSpark operates over 24,000 miners with a total hashrate of 2.4 EH/s.