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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.
On April 15, 2021, CleanSpark (Nasdaq: CLSK) announced contracts for 22,680 Bitcoin miners, enhancing its capacity to 3.2 EH/s. This includes securing 7,200 S19 Pro Antminers from Bitmain and 15,480 from an equipment dealer. Deliveries commence in August 2021, aimed at achieving over 1.1 EH/s by summer and supporting future growth. The company emphasizes its commitment to sustainability, with its Atlanta facility expected to use 95% carbon-free energy. CEO Zach Bradford highlighted the strategic importance of these contracts for long-term expansion and operational efficiency.
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) announced a $1.1 million order for a custom power generation system from a major retailer, expanding its footprint. This order, facilitated through CleanSpark, Inc. (Nasdaq: CLSK), includes Automatic Transfer Switches and is expected to be delivered by year-end 2021. The company reported a 34% increase in its T&D Solutions backlog, rising from $7.6 million to $10.2 million year-over-year. CEO Nathan Mazurek expressed optimism for record sales in 2021 and highlights the expanding market for distributed generation among retailers.
CleanSpark, Inc. (Nasdaq: CLSK) has ordered 4,778 Bitmain S19 Bitcoin mining rigs, enhancing its capacity by an estimated 740 PH/s. The first 1,298 units will deploy in summer 2021, with subsequent shipments scheduled monthly from November. CleanSpark's energy mix has achieved 95% carbon-free status, and it aims to increase this to over 98% by replacing coal power with renewable sources. The company plans to install onsite renewable microgrids for sustainability. Its current mining operations in Atlanta process about 315 PH/s, with a target of reaching 1.0 to 1.3 EH/s by late summer 2021.
CleanSpark (Nasdaq: CLSK) has secured over 50 new contracts, amounting to over $1.7 million, shortly after acquiring Solar Watt Solutions. Most contracts focus on California's Self Generation Incentive Program (SGIP), which aids homeowners in acquiring energy storage systems. This initiative positions CleanSpark to provide reliable power solutions amidst utility disruptions. The company reports a ten-fold increase in residential inquiries, indicating strong market interest.
CleanSpark, Inc. (Nasdaq: CLSK) has successfully closed an underwritten public offering of 9,090,910 shares of common stock at a price of $22.00 per share, generating approximately $200 million in gross proceeds. The funds will be used for working capital, infrastructure expansion, and acquisitions related to cryptocurrency mining and technology development. The automatic shelf registration statement was filed with the SEC on March 15, 2021. H.C. Wainwright & Co. managed the offering and legal counsel was provided by Katten Muchin Rosenman LLP.
CleanSpark, Inc. (Nasdaq: CLSK) has announced a public offering of 9,090,910 shares of common stock priced at $22.00 each, aiming to raise approximately $200 million before commissions and expenses. The offering, led by H.C. Wainwright & Co., is set to close around March 18, 2021. CleanSpark plans to utilize the funds for working capital, infrastructure expansion, acquiring additional cryptocurrency miners, and enhancing its mVoult product lines. The registration statement for this offering was filed with the SEC on March 15, 2021.
On March 15, 2021, CleanSpark (Nasdaq: CLSK) announced an underwritten public offering of its common stock, aimed at raising capital for expansion. The offering is subject to market conditions and may not proceed as planned. Proceeds will be used for working capital, infrastructure expansion, acquiring additional cryptocurrency miners, and developing mVoult product lines. H.C. Wainwright & Co. acts as the book-running manager. An automatic shelf registration statement with the SEC has been filed, enabling the offering.
CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 1,150 additional Bitcoin miners, boosting its hash rate capacity by 100 PH/s, scheduled for delivery in June 2021. This brings the total miners secured to 3,650, equating to 318 PH/s, aiming for a total of 633 PH/s. CEO Zach Bradford emphasized growth towards a target of 1.3 EH/s. CleanSpark aims to maintain the lowest energy cost for Bitcoin mining, leveraging power purchase agreements and microgrid energy solutions.
CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 2,500 additional ASIC mining rigs, expected to enhance its Bitcoin mining hash rate by 218 PH/s. With anticipated delivery in June and July 2021, the total hash rate will rise to approximately 533 PH/s. The company is focused on sustainable energy solutions, ensuring electricity at $0.0285/kwh. CEO Zach Bradford emphasized plans for increased capacity reaching between 1 to 1.3 EH/s this summer, underscoring the importance of low-cost, clean energy in the industry.
CleanSpark (Nasdaq: CLSK) has completed the acquisition of Solar Watt Solutions, a solar and energy storage developer based in California. The deal could involve up to 477,703 shares and $3.85 million in cash, depending on performance objectives. This acquisition is anticipated to enhance CleanSpark's residential initiative, with expectations of contributing approximately $20 million in revenue over the next 12 to 18 months. Solar Watt's experience and existing contracts will bolster CleanSpark's position in the California residential microgrid market.
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