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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, Inc. (Nasdaq: CLSK) has appointed Gary A. Vecchiarelli as its new Chief Financial Officer, succeeding Lori Love. Vecchiarelli brings over 20 years of finance experience, having worked in senior roles at several high-growth companies. His previous roles include CFO at Imatrex and finance director at Golden Entertainment. CEO Zach Bradford praised Vecchiarelli’s capital markets expertise, believing it will enhance shareholder value. The transition will see Love assist during the changeover. This strategic hire aims to bolster CleanSpark’s operations in sustainable bitcoin mining.
CleanSpark, Inc. (Nasdaq: CLSK) reported a significant 400% revenue increase to $49.4 million for the fiscal year ending September 30, 2021, compared to $10 million in the previous year. The net loss improved to ($21.8 million), or ($0.75 per share), from ($23.3 million), or ($2.44 per share) last year. Adjusted EBITDA stood at $9 million, marking a substantial shift from a ($10.2 million) loss previously. The company also reported current assets of $57.7 million and total assets of $317.5 million as of September 30, 2021.
CleanSpark (Nasdaq: CLSK) will host its fourth quarter and full year 2021 earnings call on December 14 at 5:00 p.m. ET. The event will provide shareholders and analysts with insights into the company's financial results and future strategies, particularly focusing on sustainable bitcoin mining and energy technology. CleanSpark aims to address modern energy challenges while expanding its digital currency mining activities. Participants can join via a webcast link for a comprehensive discussion of the company’s initiatives and business outlook.
CleanSpark (Nasdaq: CLSK) has acquired immersion cooling infrastructure for its Norcross bitcoin mining facility, marking a significant technological advancement. The phased installation, starting immediately, aims to enhance bitcoin mining efficiency by over 20% and reduce operational expenses. The new setup will feature 5940 Antminer S19j Pro machines, totaling about 600 PH/s. This state-of-the-art cooling method contrasts with traditional air-cooled centers, promising sustainability and improved performance.
CleanSpark, Inc. (Nasdaq: CLSK) announced a 4.3% increase in daily bitcoin production for November, averaging 7.3 BTC per day. The company produced 218 BTC in November, contributing to a year-to-date total of 1,301 BTC. As of November 30, CleanSpark holds 838 BTC and has converted 478 BTC for operational growth. The company operates approximately 12,900 bitcoin miners with a total hashrate of 1.3 EH/s. This release highlights CleanSpark's sustainable approach to bitcoin mining and energy technology.
CleanSpark (Nasdaq: CLSK) has unveiled a new logo and website that symbolize its commitment to sustainable bitcoin mining and energy technology. The refreshed brand identity highlights the company's strategic focus and aims to unify its business segments. As CleanSpark expands its mining operations, leveraging its energy technology expertise becomes increasingly vital. The updated branding aims to position CleanSpark as a trustworthy and adaptable entity in the renewable energy sector.
CleanSpark Inc. (Nasdaq: CLSK) will announce its fourth quarter and full year 2021 financial results on December 14 after market close. An investor conference call will follow at 5:00 p.m. ET to discuss these results. Investors can join the earnings call via a webcast on the company's website. CleanSpark specializes in sustainable bitcoin mining and energy technology, and aims to address modern energy challenges. The company continues to expand its energy initiatives, with updates expected during the upcoming earnings call.
CleanSpark, Inc. (CLSK) announced the acquisition of 2,597 additional Antminer S19 bitcoin mining machines, boosting its hashrate by over 250 PH/s, a nearly 20% increase. This delivery adds to the 2,711 rigs already set for delivery, enhancing the company's operational capacity significantly. CleanSpark's strategy includes converting a portion of its BTC holdings to fund operations, minimizing shareholder dilution. Currently, the company operates over 12,800 miners with a total hashrate of 1.3 EH/s, reflecting its commitment to sustainable bitcoin mining.
CleanSpark has announced its commitment to enhance transparency within the bitcoin mining industry by releasing monthly updates on its mining operations. For the year-to-date ending October 31, 2021, the company produced 1,083 BTC, with 216 BTC produced in October alone. CleanSpark currently holds 729 BTC and has deployed approximately 11,780 miners with a total hashrate of 1.2 EH/s. The firm is focused on sustainability and aims to set new industry standards through its operational insights.
CleanSpark, Inc. (Nasdaq: CLSK) has announced the purchase of 2,250 Antminer S19j pro bitcoin mining machines, set to enhance its capacity by 225 PH/s. The delivery schedule extends from next month through July 2022, with a total of 26,830 miners expected over the next year. CleanSpark plans to utilize a portion of its bitcoin holdings to finance these acquisitions, continuing its strategy of leveraging digital assets. The company currently operates over 10,000 miners, reinforcing its position in sustainable bitcoin mining.
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