CleanSpark Rolls Out Smart Residential Microgrid Solution and Mobile App, mVoult

Rhea-AI Summary

CleanSpark, Inc. (Nasdaq: CLSK) has announced the rollout of mVoult, a smart energy system designed for homes and small businesses, initially targeting California. Built on the mPulse platform, mVoult offers modular energy solutions, allowing users to harness various power sources, including solar and battery storage. A companion mobile app enables real-time energy monitoring and management. Despite global battery shortages, CleanSpark has secured partnerships for a reliable supply. The company aims to enhance energy resilience and cost savings for homeowners, especially amid frequent power outages.

Positive

• Introduction of mVoult, a smart energy system for residential properties.
• Offers modular solutions, adaptable to user needs, enhancing flexibility.
• Companion mobile app provides real-time monitoring and management.
• Secured partnerships ensuring a steady supply of batteries amid global shortages.

Negative

• None.

SALT LAKE CITY, Aug. 19, 2021 /PRNewswire/ --  CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced an update to ongoing roll-out of mVoult, the Company's smart energy system and companion mobile app designed specifically for homes and small businesses.

CleanSpark's Residential Microgrid Solution, mVoult Available for California Customers.  National Expansion to Follow.

mVoult is built off of the same platform as CleanSpark's existing, patented mPulse product, which is tough enough for the military and is also flexible enough to be used in commercial, industrial, and estate home applications.

mVoult is a single solution for resilient, reliable, and cost-effective energy for residential properties of all sizes. The system is fully configurable according to the user's needs. Homeowners can start small and expand the modular system without significant design changes as their goals or requirements grow. mVoult enables a system to use power generated from multiple sources, including the main utility, solar, or battery. It also supports storing energy for use during utility disruptions or when economic opportunities exist to lower utility bills.

"We've anticipated using our microgrid technologies to create a cost-effective product offering which can add significant value to the residential energy sector by giving homeowners the choice of power so that they can determine the best application for their individual needs," said CleanSpark President and CEO Zach Bradford. "The pandemic made it more apparent how important self-reliance can be, by giving our customers the opportunity to generate, use and store energy with a focus on renewable resources. CleanSpark is committed to supporting that process."

The companion mobile app connects to the mVoult smart power system and is the window into the homeowner's power system. With the app, users can see how their systems are performing, understand all-time and month-to-date energy cost savings, and view and change system settings, including battery reserve, and monitor the system's energy usage in real-time. The mobile app is available for download in both the Apple and Google Play app stores.

The Company is focusing on California for its first phase of installations as much of the state continues to face disastrous wildfires and power outages. mVoult provides resiliency and cost savings whether the traditional grid is up or down.

The Company has a significant supply of batteries either in transit, or in the Carlsbad warehouse, which are continuing to be deployed as quickly as permitting and personnel allow.

Despite global battery supply shortages, CleanSpark has solidified partnerships with multiple top-tier residential battery manufacturers providing ample supply to meet our growing customer demand. 

 "We are seeing positive improvements to the overall global supply chains and have been rapidly deploying batteries," said Amer Tadayon, CleanSpark Chief Revenue Officer and Energy Division President. "We expect continued normalization, adding momentum to our residential energy initiative."

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 .

About CleanSpark
CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on 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 release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; 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 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. 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 (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

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

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com

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SOURCE CleanSpark, Inc.

FAQ

What is CleanSpark's new product mVoult?

mVoult is a smart energy system designed for homes and small businesses, enabling users to utilize multiple power sources and manage energy efficiently.

Where is mVoult being rolled out first?

The initial rollout of mVoult is focused on California, addressing energy resiliency amid power outages.

What features does the mVoult mobile app provide?

The mobile app allows users to monitor energy performance, track savings, and manage system settings in real-time.

How is CleanSpark addressing battery supply shortages?

CleanSpark has established partnerships with top-tier battery manufacturers to ensure a reliable supply despite global shortages.

What benefits does mVoult offer to homeowners?

mVoult enhances energy resilience, provides cost savings, and allows users to choose energy sources based on their needs.