CleanSpark Announces February 2022 Bitcoin Production

Rhea-AI Summary

CleanSpark, a sustainable bitcoin mining and energy technology company, reported an update on its bitcoin production for the year-to-date ending February 28, 2022. The company produced 581 BTC, with 276 BTC produced in February alone. As of this date, CleanSpark held 494 BTC and converted 253 BTC for operational and growth activities, generating approximately $10.1 million in proceeds. The company operates a fleet of over 22,000 miners with a total hashrate of 2.2 EH/s. Daily BTC production reached a peak of 10.15 BTC in February.

Positive

• February 2022 BTC production of 276 units.
• Total BTC production of 581 units year-to-date as of February 28.
• Generated approximately $10.1 million from the sale of 253 BTC.
• Operates over 22,000 latest-generation bitcoin miners with a total hashrate of 2.2 EH/s.
• Daily production reached a high of 10.15 BTC in February.

Negative

• None.

LAS VEGAS, March 03, 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 February 28, 2022.  

Bitcoin Production & Operations Update (unaudited) 

• February monthly production: 276 
• Calendar year-to-date production ending February 28: 581 
• Total BTC holdings as of February 28: 494 

• Total BTC converted for operations and growth in February: 253 
• Currently deployed fleet of over 22,000 latest-generation bitcoin miners with a total hashrate of 2.2 EH/s  

The Company fully funded growth and operations through the sale of 253 bitcoins in February 2022 at an average of approximately $39,740 per BTC. Sales of BTC equated to proceeds of approximately $10.1 million, most of which was used for growth capital expenditures at the company’s Norcross facility. February daily BTC production reached a high of 10.15. 

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
702-989-7694      

BlocksBridge Consulting 
Nishant Sharma 
cleanspark@blocksbridge.com   

FAQ

What is CleanSpark's bitcoin production in February 2022?

CleanSpark produced 276 BTC in February 2022.

What is the total bitcoin production by CleanSpark year-to-date?

As of February 28, 2022, CleanSpark's total bitcoin production is 581 BTC.

How much BTC did CleanSpark convert for operations in February 2022?

CleanSpark converted 253 BTC for operations and growth in February 2022.

What were the proceeds from BTC sales by CleanSpark in February 2022?

CleanSpark generated approximately $10.1 million from the sale of 253 BTC.

What is CleanSpark's total hash rate as of February 2022?

CleanSpark operates a fleet with a total hashrate of 2.2 EH/s.