CLEANSPARK INC - CLSK STOCK NEWS

CleanSpark, Inc. (Nasdaq: CLSK) has signed an agreement with Lancium to secure 200 MW of renewable power at Lancium's datacenters in Texas, with potential for an additional 300 MW. This expansion will add approximately 16.0 EH/s to CleanSpark's existing 4.0 EH/s hashrate. The initial 50 MW is expected to be operational by December 31, 2022, followed by 150 MW in Spring 2023. CleanSpark currently operates over 22,000 bitcoin mining machines. This move aligns with CleanSpark's sustainable energy strategy and enhances its competitive position in North America's bitcoin mining sector.

CleanSpark, a sustainable bitcoin mining and energy technology company, reported an update on its bitcoin production for the year-to-date ending February 28, 2022. The company produced 581 BTC, with 276 BTC produced in February alone. As of this date, CleanSpark held 494 BTC and converted 253 BTC for operational and growth activities, generating approximately $10.1 million in proceeds. The company operates a fleet of over 22,000 miners with a total hashrate of 2.2 EH/s. Daily BTC production reached a peak of 10.15 BTC in February.

CleanSpark, Inc. (Nasdaq: CLSK) has increased entry-level salaries in its mining operations to $19 per hour, aiming to attract top talent. This increase positions CleanSpark's compensation above that of major e-commerce firms. The company continues to emphasize strong employee benefits, including employer-paid health insurance and paid time off. This move aligns with its commitment to environmental, social, and governance (ESG) principles and reflects its ambition to lead in the bitcoin mining industry.

CleanSpark, Inc. (Nasdaq: CLSK) reported record revenues of $41.2 million for Q1 2022, a remarkable 17x increase from $2.3 million the previous year. The firm achieved $14.5 million in net income, reversing a loss of $(7.2) million, and posted Adjusted EBITDA of $24.1 million. Gross margins stood at 80%, with net margins at approximately 35%. The company aims to focus on bitcoin mining, operating 20,900 machines with a hashrate exceeding 2.1 EH/s. An earnings call is set for today to discuss future strategies.

CleanSpark, Inc. (Nasdaq: CLSK) reported a 35% month-to-month increase in bitcoin production for January 2022, with a total of 305 BTC mined. The company holds 471 BTC as of January 31, selling 467 BTC at an average price of $41,000 to fund growth and operations. CleanSpark currently operates with approximately 20,500 miners and a total hashrate of 2.1 EH/s. January daily BTC production peaked at 10.4 BTC.

CleanSpark Inc. (CLSK) will announce its first quarter financial results on February 9 after market close, followed by an investor conference call at 5:00 p.m. EST. The Company is recognized for its sustainable bitcoin mining and energy technology solutions. Investors can access downloadable files, including transcripts, on the Company’s website within 48 hours post-event.

CleanSpark has established a scholarship for five students at Gwinnett Technical College, covering full tuition and books for those pursuing computer science degrees. Awarded during the 2021 winter break, this scholarship emphasizes CleanSpark's commitment to community support. The company, which operates in Gwinnett County, plans to invest $145 million in capital improvements over five years. President Dr. D. Glen Cannon praised CleanSpark's initiative, highlighting the technical skills students will gain for lucrative careers.

CleanSpark, a leading sustainable bitcoin mining firm, has reported a significant increase in its hashrate, exceeding 2 exahashes per second (EH/s), doubling its capacity in just three months. This development allows the company to produce approximately 10 bitcoins daily, positioning it among the top miners in North America. CEO Zach Bradford emphasizes their efficiency in mining and energy usage, highlighting future expansion plans. Additionally, CleanSpark is promoting a giveaway of NFTs and conference passes as part of their achievement celebration.

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.