CLEANSPARK INC - CLSK STOCK NEWS

CleanSpark (NASDAQ: CLSK) has announced a significant expansion in its bitcoin mining capacity through a purchase agreement with Cryptech Solutions. The company is acquiring 10,000 Antminer S19j Pro units for $28 million, adding 1 EH/s to its current hashrate of 3.8 EH/s. This purchase was made at a substantially discounted price compared to earlier this year, enabling CleanSpark to optimize its investments during challenging market conditions. The units are expected to be delivered by late October or early November 2022.

CleanSpark, Inc. (CLSK) reported substantial growth in its bitcoin mining operations for August 2022, achieving a hashrate of 3.4 EH/s, up 19% from July 2022. The company mined 395 bitcoins in August, a 109% increase year-over-year. Year-to-date, it has mined 2,642 bitcoins and holds a total of 526 BTC. CleanSpark's operational growth is supported by the sale of 388 BTC for approximately $8.9 million. The company also welcomed new VP of Mining Technology, Taylor Monnig, to enhance its operations.

CleanSpark (NASDAQ: CLSK), a leading Bitcoin miner, reported a significant increase in its hashrate, now exceeding 3 EH/s, tripling in under a year. This growth is attributed to strategic partnerships and a robust financial roadmap. The company operates three facilities with over 31,000 mining machines, achieving a daily production peak of 13.25 bitcoins. Recent acquisitions include a facility in Washington, expected to add 1.1 EH/s, and discounted mining machines that boosted capacity by 93 PH/s. CleanSpark is now ranked among the top five Bitcoin miners in North America.

CleanSpark, Inc. (Nasdaq: CLSK) has successfully completed the acquisition of a bitcoin mining facility in Washington, Georgia, ahead of schedule. This site will add approximately 2.6 EH/s to CleanSpark’s hashrate. The facility, powered predominantly by carbon-free energy, plans to energize 3,400 on-site machines soon, with an additional 8,283 machines arriving shortly. The move aligns with CleanSpark's commitment to sustainable bitcoin mining and is expected to create around 20 local jobs. An open house for the community is scheduled for September 8.

CleanSpark reported third quarter revenue of $31.0 million, a 243% increase from the previous year. However, the company experienced a net GAAP loss of $(29.3) million, a 76% increase from the same period last year.

Adjusted EBITDA stood at $15.2 million, down 30% sequentially. CleanSpark mined 964 Bitcoin and increased its hashrate by 22%, raising its year-end hashrate guidance to 22.4 EH/s. The company announced it is selling its energy assets to focus solely on bitcoin mining.

CleanSpark, Inc. (Nasdaq: CLSK) has announced the acquisition of a bitcoin mining facility in Washington, Georgia, for $16.2 million. This acquisition is expected to enhance CleanSpark's hashrate by 1.1 EH/s, representing a 38% increase. The company has also purchased 3,400 Antminer S19 machines for $8.9 million, adding over 340 PH/s. The site has potential for expansion to 86 MW and is CleanSpark's third campus in Georgia, utilizing low-carbon energy sources, mainly nuclear.

CleanSpark achieved a record of 13.25 BTC mined per day in July 2022, with total monthly production increasing by over 13%. The company mined 384 BTC in July, bringing the year-to-date total to 2,247 BTC. CleanSpark holds 519 BTC as of July 31, 2022, and converted 426 BTC into operational funds, generating approximately $8.8 million in proceeds. The current mining fleet consists of around 30,450 miners, contributing to a total hashrate of 2.9 EH/s.

CleanSpark Inc. (Nasdaq: CLSK) will host a live webcast to discuss its fiscal third-quarter 2022 financial results on August 9, 2022, at 4:30 p.m. ET. The results will be publicly released after market close on the same day. CleanSpark focuses on sustainable bitcoin mining and energy independence, utilizing low-carbon energy sources. The company has been recognized as one of Forbes' Best Small Companies and ranked on the Financial Times' Fastest Growing Companies list. More details are available via their investor relations webpage.

CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 1,061 Whatsminer M30S machines, boosting its bitcoin mining capacity by approximately 93 petahashes per second (PH/s). The machines are operational at Coinmint’s renewable-powered facility. CEO Zach Bradford noted the company's strategic hybrid approach to mining is well-positioned for market growth. This deal follows a prior bulk purchase of 1,800 Antminer S19 XP units. Over the past six months, CleanSpark's computing power increased by 47%, and monthly bitcoin production grew by 50%.