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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) announced the acquisition of 4,500 Antminer S19 bitcoin mining machines, funded partially through its BTC holdings. This move is anticipated to boost the company’s sustainable mining capacity by 450 PH/s, nearly 45% of its current capacity. Delivery of the machines will occur from November 2021 to July 2022. In addition to its current fleet of over 10,000 miners, CleanSpark intends to maintain its BTC holdings while enhancing revenues through this strategic investment aimed at maximizing shareholder value.
CleanSpark (Nasdaq: CLSK) has transitioned all its bitcoin mining power to Foundry USA Pool, adding over one exahash of sustainable mining power. This includes more than 10,000 latest-generation bitcoin mining machines. The company aims to grow its capacity to 2 EH/s by year-end 2021 and 3.2 EH/s by fall 2022. Foundry USA Pool promises transparency and stable payouts without external dependencies. This shift emphasizes decentralization in the mining landscape, benefitting the bitcoin network's health.
CleanSpark (Nasdaq: CLSK) announced that Executive Chairman Matthew Schultz will participate in a fireside chat at the BTIG Future of Digital Assets Conference on September 22, 2021. Schultz highlighted BTIG's role in investor education within the digital asset space, emphasizing the value of CleanSpark's energy expertise in bitcoin mining. Schultz and CEO Zach Bradford will also engage with institutional investors during the event. The conference is exclusive to BTIG clients, and those interested in attending can contact a BTIG representative for details.
CleanSpark, a sustainable bitcoin mining company, is set to invest nearly $145 million over the next five years at its new data center in Norcross, Georgia. The $6.55 million acquisition of the former Sprint/Nextel facility will create 20 jobs with an average salary of $50,000. In partnership with Georgia Power, CleanSpark will also invest $2 million in a power expansion to enhance local energy solutions. The company's operations aim to be 100% carbon neutral, contributing to community sustainability.
CleanSpark, Inc. (Nasdaq: CLSK) announced CEO Zach Bradford's participation in Water Tower Research's Sustainable Investing Fireside Chat on August 24, 2021. The discussion will focus on CleanSpark's recent advancements in bitcoin production and hashrate capacity, along with the potential margin opportunities stemming from these developments. Investors are encouraged to register for the event, which is open to all and provides an opportunity for live engagement and replay. For further inquiries regarding CleanSpark's products, interested parties can reach out via email or visit the company's website.
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.
CleanSpark, Inc. (Nasdaq: CLSK) reported significant financial results for the three and nine months ended June 30, 2021. Revenue rose to $22.3 million, a 176% increase year-over-year, with a quarterly revenue surge of $11.9 million, up 250%. Despite a net loss of ($16.4 million) for the nine months, adjusted EBITDA improved to $6.2 million for the same period. The company expects annualized revenues of $137 million to $154 million from its Bitcoin mining operations as it expands capacity in Atlanta, potentially increasing production to 8-9 bitcoins daily.
CleanSpark (Nasdaq: CLSK) has acquired a 87,000 square foot data center in Norcross, Georgia for $6.55 million. This facility will enhance its Bitcoin mining operations by providing 20 MW of power, expected to increase daily Bitcoin production to 18 BTC by late 2021. The center will operate with 100% carbon-neutral energy via Georgia's Simple Solar program, integrating renewables for sustainability. Additionally, CleanSpark aims to deploy over 23,500 S19 ASICS miners, expanding its energy capacity to 70 MW with a carbon-free focus.
CleanSpark (Nasdaq: CLSK) announced a live virtual earnings presentation scheduled for August 16, 2021, at 1 p.m. PST/4 p.m. EST. The event aims to update investors and analysts on the company's progress and business strategies in clean Bitcoin mining and energy technology. Participants can access the presentation via a provided link, and a recorded version will be available after the event. CleanSpark focuses on energy solutions and digital currency mining while navigating potential risks that could impact future growth, including market demand and global events.
CleanSpark, Inc. (Nasdaq: CLSK) has announced significant updates to its Bitcoin mining and energy business units. The company now produces approximately 6 Bitcoins daily, with plans to increase to 9.3 Bitcoins per day by deploying additional mining units. CleanSpark's Bitcoin mining has achieved a potential annual revenue run rate of $136 million. In July, it integrated over 180 microgrid batteries, boosting its energy revenue significantly. However, it anticipates reporting losses due to Bitcoin volatility and one-time expenses.
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