CleanSpark Applauds Congressional Hearing on Bitcoin Mining

Rhea-AI Summary

CleanSpark (Nasdaq: CLSK) recently addressed the congressional hearing titled Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains, emphasizing the role of bitcoin mining in enhancing renewable energy infrastructure.

The company acknowledged the energy consumption associated with bitcoin mining but highlighted its transparent nature and the potential for faster payback on renewable projects. CleanSpark advocates for a focus on the type of energy used in mining, positioning miners as allies in the drive towards decarbonization.

Positive

• Bitcoin mining by CleanSpark promotes investment in renewable energy infrastructure.
• The company's focus on sustainable energy aligns with growing regulatory interests.

Negative

• Concerns about the high energy consumption associated with bitcoin mining could lead to regulatory scrutiny.

Focused on sustainability, CleanSpark has long held that bitcoin mining is a boon to renewable energy infrastructure

LAS VEGAS, Jan. 20, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today released a statement responding to this morning’s congressional hearing on crypto mining, Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains.  

“We are at the precipice of a lifetime opportunity to develop energy. And that’s because of Bitcoin. While it is true that bitcoin mining consumes a lot of energy, the energy it consumes is transparent and knowable in almost real-time. Bitcoin mining is also leading to the development of new energy infrastructure by allowing for a faster payback on renewable energy projects such as solar and wind.   

“The question for regulators isn’t about how much energy bitcoin uses, but about what kind of energy it uses. We believe that bitcoin miners can be partners in the important work of decarbonizing our economy.” 

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  
ir@cleanspark.com    

Media Contacts:   
Isaac Holyoak     
pr@cleanspark.com

BlocksBridge Consulting  
Nishant Sharma  
cleanspark@blocksbridge.com    

FAQ

What did CleanSpark say about renewable energy at the congressional hearing?

CleanSpark stated that bitcoin mining is beneficial for developing renewable energy infrastructure and emphasized the importance of the type of energy used.

How does CleanSpark view bitcoin mining's energy consumption?

CleanSpark acknowledges that while bitcoin mining consumes significant energy, it is transparent and can drive investment in new energy projects.

What is CleanSpark's stance on bitcoin miners and decarbonization?

CleanSpark believes bitcoin miners can be partners in decarbonizing the economy.

What is the stock symbol for CleanSpark?

The stock symbol for CleanSpark is CLSK.