CLEANSPARK INC - CLSK STOCK NEWS

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.

CleanSpark, Inc. (Nasdaq: CLSK) will participate in the Water Tower Research Fireside Chat Series on February 18, 2021, at 3:00 PM ET. CEO Zachary Bradford will discuss recent quarterly performance, the 2021 outlook, partnerships, and Bitcoin mining operations. The event will include a Q&A session. Investors can register for the live event, which will also be available for replay. CleanSpark focuses on solving energy challenges through advanced software solutions and operates a Bitcoin mining fleet with a capacity expected to increase from 200 PH/s to over 315 PH/s.

CleanSpark has launched mVoult, a revolutionary energy management system for home microgrids, enabling flexible control of both existing and new energy assets. This standalone solution, designed for residential use, offers homeowners options like solar integration and backup generators. The launch comes amid increasing demand for residential energy solutions due to utility outages, particularly in California. With pre-orders expected in April 2021, CleanSpark aims to significantly expand its market presence and enhance revenue streams from home microgrid solutions.

CleanSpark, Inc. (CLSK) reported its Q1 2021 financial results, showcasing a remarkable 130% increase in revenue, reaching $2.26 million compared to $0.98 million in the previous year. Gross margins improved to 41%, indicating enhanced profitability in Bitcoin mining operations. However, operating losses widened to $6.2 million. With a net loss of $7.2 million or $(0.32) per share, the company showed an adjusted EBITDA loss of $591,975. Cash reserves surged to $25.6 million, bolstered by a prior capital raise, supporting future expansion and operational capacity improvements.