CleanSpark Announces May 2022 Bitcoin Production

Rhea-AI Summary

CleanSpark, Inc. (Nasdaq: CLSK) announced a 23% increase in its bitcoin holdings as of May 31, 2022, reaching a total of 550 BTC. For May, the company produced 312 BTC, bringing the year-to-date total to 1,523 BTC. CleanSpark funded its growth by selling 210 BTC at an average price of $32,639 per BTC, resulting in proceeds of approximately $6.9 million. The company operates over 25,000 miners with a hashrate exceeding 2.5 EH/s, indicating robust operational capacity.

Positive

• 23% increase in bitcoin holdings
• Produced 1,523 BTC year-to-date, indicating strong operational performance
• Generated $6.9 million from BTC sales, supporting growth and operations
• Robust mining capacity with over 25,000 miners deployed

Negative

• None.

The Company’s bitcoin holdings increased 23%

LAS VEGAS, June 02, 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 May 31, 2022.  

Bitcoin Production & Operations Update (unaudited) 

• May monthly production: 312 
• Calendar year-to-date production ending May 31: 1,523 
• Total BTC holdings as of May 31: 550 
• Total BTC converted for operations and growth in May: 210 

• Currently deployed fleet of over 25,000 latest-generation bitcoin miners with a hashrate over 2.5 EH/s  

The Company fully funded growth and operations through the sale of 210 bitcoins in May 2022 at an average of approximately $32,639 per BTC. Sales of BTC equated to proceeds of approximately $6.9 million. May daily BTC production reached a high of 10.69. 

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. 

Investor Relations Contact 
Matt Schultz, Executive Chairman
ir@cleanspark.com 

Media Contacts 
Isaac Holyoak 
pr@cleanspark.com 

BlocksBridge Consulting 
Nishant Sharma 
cleanspark@blocksbridge.com  

FAQ

What is the latest bitcoin production update for CleanSpark (CLSK)?

As of May 31, 2022, CleanSpark produced a total of 1,523 BTC year-to-date, with a monthly production of 312 BTC in May.

How much did CleanSpark (CLSK) increase its bitcoin holdings by?

CleanSpark's bitcoin holdings increased by 23%, totaling 550 BTC as of May 31, 2022.

What were the proceeds from bitcoin sales for CleanSpark (CLSK) in May 2022?

CleanSpark generated approximately $6.9 million from the sale of 210 BTC in May 2022.

What is CleanSpark's (CLSK) operational capacity in bitcoin mining?

CleanSpark operates a fleet of over 25,000 latest-generation bitcoin miners with a hashrate exceeding 2.5 EH/s.