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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 (Nasdaq: CLSK) announces a partnership with FAFCO to expand CoolPV operations in California's Malibu, Santa Barbara, and San Fernando Valley. The initiative aims to provide cost-effective renewable energy solutions for homeowners by installing solar and storage systems. CoolPV panels enhance energy generation by 20% and capture four times more solar energy compared to traditional systems, significantly reducing utility bills. This partnership aligns with the U.S. goal to halve carbon emissions by 2030, addressing rising demand for affordable residential energy solutions.
CleanSpark, a diversified energy services and Bitcoin mining company, announced CEO Zach Bradford's participation in the Water Tower Research Virtual Conference on May 18, 2020, at 3:00 pm ET. The discussion will focus on the company's Bitcoin mining operations and its commitment to achieving near-zero emissions. Moderated by Shawn Severson, the event is open to all, but registration is required. CleanSpark aims to address modern energy challenges with innovative software and technology solutions and operates a Bitcoin mining facility near Atlanta, Georgia.
CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 2,400 S19-Pro Bitcoin mining rigs, aiming to enhance the efficiency of its mining operations. Set for delivery in June 2021, this move supports the Company's strategy to maximize energy efficiency aligned with its ESG objectives. The new rigs will replace older models, reducing energy consumption by approximately 1 MW while improving production efficiency by 37.5%. CEO Zach Bradford highlighted the anticipated increase in hash rate capacity to over 400 PH/s, potentially boosting daily bitcoin production by half a coin.
CleanSpark, Inc. (Nasdaq: CLSK) reported its Q2 2021 results with a net income of $7.4 million, translating to $0.28 per share, marking a significant turnaround from a loss of $(5.8) million in Q2 2020. Quarterly revenues surged 122% to $8.1 million. For the six months ended March 31, 2021, revenue rose 124% to $10.4 million. The company produced over 144 Bitcoins in Q2. Key assets included $157.2 million in cash and total assets of $292.6 million. CleanSpark also closed a $200 million public offering to fuel expansion in Bitcoin mining and energy initiatives.
CleanSpark, Inc. (CLSK) announced a live virtual earnings presentation and business update scheduled for May 7, 2021, at 8 a.m. PST/11 a.m. EST. This meeting aims to provide insights to investors and analysts about the company's performance and future strategies. CleanSpark specializes in advanced software and technology solutions for energy challenges, including microgrid energy modeling and management. The company also operates Bitcoin miners at its facility in Georgia. Further details can be accessed on their website.
CleanSpark, a diversified software and Bitcoin mining company, announced that CEO Zach Bradford will present at the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. Bradford will speak on the Crypto Mining panel at 10:00 a.m. Eastern time and is available for investor meetings. Additionally, Executive Chairman Matthew Schultz will present at RenMark’s Virtual Roadshow on April 28, discussing growth plans and recent $200M funding. CleanSpark is known for its advanced software solutions and operates Bitcoin miners in Georgia.
CleanSpark, Inc. (Nasdaq: CLSK) has reported a significant 220% increase in its microgrid project backlog, now totaling over $23.5 million as of April 18, 2021. This growth includes $14.3 million from residential initiatives and $4.6 million from commercial projects. The company produced over 144 Bitcoins in Q1 2021 and holds 143 Bitcoins as of April 18, 2021. CleanSpark anticipates a hashrate capacity increase to over 1.1 EH/s by August 2021, potentially producing 6-7 Bitcoins daily. An earnings call is scheduled for May 7, 2021, to discuss quarterly results and outlook.
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.
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