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CleanSpark Inc. (Nasdaq: CLSK) is a leading company in the bitcoin mining industry, focused on delivering sustainable and reliable energy solutions. The company was founded in 2013 by Michael Firenze, Art Villanueva, and Bryan Huber. Initially, CleanSpark's vision was to empower communities through advanced energy management technologies, such as fractal grid technologies and federated enterprise services, to create sustainable energy solutions for various sectors including institutional, commercial, industrial, and residential clients.
Over time, CleanSpark shifted its core focus to bitcoin mining. The company leverages its expertise in energy efficiency to operate highly effective and low-carbon data centers dedicated to mining bitcoin. Through strategic acquisitions like that of ATL Data Centers, CleanSpark has become a significant player in the bitcoin mining sector. The company's infrastructure supports bitcoin—a critical digital commodity for financial independence and inclusion.
CleanSpark is known for its innovative Flex Power System, which provides energy security at or below current electricity prices, making it cost-effective for up to 25 years or more. As of the latest updates, the company has made substantial progress in its operational capacity. Recent achievements include a 60% increase in hashrate and significant additions to their bitcoin treasury, which now holds nearly 5,000 bitcoins.
In addition to its core mining operations, CleanSpark continues to expand its footprint. The company's acquisition of new sites in Mississippi and Georgia has bolstered their total operating hashrate to over 17 EH/s. Moreover, the company plans to acquire additional facilities in Wyoming, which are expected to add further operational capacity.
Financially, CleanSpark is robust, reporting significant revenue increases and maintaining a strong balance sheet with almost $700 million in cash and bitcoin, and minimal debt. The company's dedication to transparency and trust is evident in their regular updates and investor communications.
Overall, CleanSpark Inc. is not only pioneering in the bitcoin mining sector but also promoting sustainable and efficient energy use, positioning itself as a forward-thinking leader in both the technological and financial landscapes. For more information, visit their website at www.cleanspark.com.
CleanSpark reports robust bitcoin mining performance with a record production of 12.1 BTC per day as of June 2022, a 12% month-over-month increase in hashrate. For the year-to-date, the company produced 1863 BTC and currently holds 561 BTC. Proceeds from the sale of 328 BTC in June, averaging $25,644 per BTC, amounted to approximately $8.4 million. CleanSpark also successfully exited its switchgear business, enhancing its focus and liquidity for bitcoin mining operations.
CleanSpark, Inc. (Nasdaq: CLSK) will present at Bank of America's Web3 & Digital Assets Day on June 23, 2022, in New York City. The event is exclusive to BofA's top clients and features leaders from notable digital asset companies. CleanSpark's CEO, Zach Bradford, will participate in a panel alongside other mining industry executives. As interest in bitcoin mining and sustainable energy solutions grows, the company emphasizes its commitment to clean energy practices and sustainability in the evolving digital assets landscape.
CleanSpark has acquired 1,800 Antminer S19 XP units, enhancing its bitcoin mining capacity by over 252 petahashes per second (PH/s). This strategic move is part of an existing purchase contract alongside a partnership with TMGcore Inc. for advanced immersion-cooling infrastructure. The miners are expected to arrive starting in August 2022, with shipping extending over six months. CEO Zach Bradford highlighted that the contract was secured at a discounted price due to market conditions and strategic relationships, aiming to maximize shareholder value.
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.
CleanSpark, Inc. (CLSK) reported Q2 2022 revenues of $41.6 million, up 4x from $8.1 million a year prior. Despite a net loss of $(0.17) million, the company's Adjusted EBITDA rose significantly to $22.5 million, though it decreased 7.2% from Q1. The company cites ongoing operational and financial execution, including a recent agreement with Lancium to secure 600MW of power. CleanSpark's capital strategy remains resilient, fully funding growth capex through bitcoin conversion without utilizing shelf offerings since November.
CleanSpark, a sustainable bitcoin mining and energy technology company, reported its bitcoin production update for April 2022. The company produced 313 bitcoins in April, totaling 1,211 BTC year-to-date as of April 30. They currently hold 448 BTC and converted 285 BTC to fund operations, yielding approximately $11.9 million in proceeds. The firm operates over 24,000 miners with a hashrate of 2.4 EH/s, with installations ongoing at its facilities in Norcross, College Park, and Coinmint.
CleanSpark Inc. (CLSK) is set to announce its second quarter financial results for FY2022 on May 10, following the U.S. market close. The earnings report will be followed by an investor conference call scheduled for 4:30 p.m. EST. Investors can access the conference via a webcast available on the company’s investor relations page. Details regarding downloadable files, including transcripts, will be available within 48 hours post-event. CleanSpark specializes in sustainable bitcoin mining and energy technology.
CleanSpark (Nasdaq: CLSK) has partnered with Sustainable Bitcoin Standard (SBS) to provide verifiable ‘Proof of Sustainable Mining’ certificates for the bitcoins it mines. This collaboration aims to enhance transparency and adoption of clean bitcoin mining, addressing the energy consumption stigma in the industry. SBS will issue Sustainable Bitcoin Certificates (SBC) to miners using renewable energy. As a notable player in sustainable bitcoin mining, CleanSpark emphasizes its commitment to clean energy, aligning with the growing ESG demands among institutional investors.
CleanSpark, Inc. (CLSK) announced a $35 million non-dilutive financing deal with Trinity Capital, aimed at strengthening its capital structure.
This three-year equipment financing, backed by 3,336 S19j Pro miners, carries a 9.9% interest rate and will support growth capital expenditures. CleanSpark currently operates over 23,000 miners with another 12,000 scheduled for delivery by October 2022.
The company emphasizes its commitment to sustainable bitcoin mining and aims to minimize shareholder dilution while maximizing returns.
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