CLEANSPARK INC - CLSK STOCK NEWS

CleanSpark Inc. (Nasdaq: CLSK) has appointed Brian Carson as chief accounting officer. Previously serving as director of financial reporting, Carson will continue to oversee accounting and SEC financial reporting while implementing new systems to match the company's growth. With over 30 years of experience in corporate accounting and financial planning, Carson has been instrumental in navigating CleanSpark through significant growth periods, particularly in digital asset accounting.

Carson joined CleanSpark in October 2022 after working as a director and financial controller for SAHARA Las Vegas. He began his career as an audit manager with Deloitte and has been a Certified Public Accountant (CPA) for more than two decades. Carson holds a bachelor's degree in accounting from Westminster University.

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, has announced the restoration of normal operations following the impact of Hurricane Helene. The company's hashrate has now reached 28.7 EH/s, after 365 MW of power was temporarily shut down due to the hurricane. CEO Zach Bradford expressed gratitude to employees and utility workers for their efforts in restoring power to both the surrounding communities and the affected facilities. He emphasized the importance of their work in swiftly and safely bringing power back online while prioritizing the energy needs of the local community.

CleanSpark Inc. (Nasdaq: CLSK) released its unaudited bitcoin mining and operations update for September 2024, marking the end of fiscal year 2024. The company achieved significant growth, increasing its hashrate by 187% to 27.6 EH/s and operational capacity by 132% to 552 MW at wholly-owned sites. CleanSpark's bitcoin treasury exceeded 8,000, a 258% increase from FY2023.

Key highlights include:

• 493 bitcoin mined in September
• 7,098 bitcoin mined in FY2024
• 8,049 total bitcoin holdings as of September 30
• 188,520 deployed fleet with 21.94 J/Th efficiency
• 27.6 EH/s month-end operating hashrate

The company expanded operations in Georgia, Tennessee, Wyoming, and Mississippi, with plans to reach 30 EH/s in October 2024 and a forecasted growth to 50 EH/s and beyond in FY2025. CleanSpark also navigated challenges, including Hurricane Helene, and made strategic decisions such as not renewing its hosting agreement with Coinmint.

CleanSpark Inc. (Nasdaq: CLSK) has provided an update on the impact of Hurricane Helene on its operations. CEO Zach Bradford expressed condolences to affected communities and praised the resilience of employees and local communities. All team members are reported safe. The company maintained approximately 10.5 EH/s at unaffected sites during the storm.

CleanSpark shut down 365 MW of its Southeast Georgia sites as the hurricane approached. Within 24 hours, they restored hashrate to over 17.5 EH/s. Currently, 200 MW have been brought back online, with the remaining 165 MW expected to be operational within a week. The company's current hashrate is approximately 22 EH/s, with an expected return to 28 EH/s once fully operational.

No material damage to site infrastructure or mining servers has been reported.

CleanSpark Inc. (Nasdaq: CLSK) has announced the acquisition of two Bitcoin mining sites near Clinton, Mississippi, for a combined price of $5.775 million. These sites will support 16.5 MW and are expected to be operational by December 1, 2024, housing S21 pro miners with a combined hashrate of approximately 1 EH/s. This addition brings CleanSpark's data center portfolio in Mississippi to 60.5 MW.

Additionally, the company has closed on a previously announced 45 MW site in Wyoming, which is expected to contribute an additional 3 EH/s to CleanSpark's hashrate. This site will feature immersion-cooled Bitcoin mining data centers supporting S21 immersion XPs. With these acquisitions, CleanSpark's operational capacity has increased by 211.5 MW in the past week, representing a 38% growth. The company aims to reach 37 EH/s by the end of 2024 and 50 EH/s in 2025.

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, has announced significant expansions and acquisitions that have boosted its hashrate to over 26 EH/s. The company has recently energized the final 50 MW phase of its 150 MW expansion in Sandersville, GA, and completed expansions in Dalton, along with acquiring seven facilities in Tennessee. These developments have increased the company's capacity by 65 MW and 3.2 EH/s. CEO Zach Bradford expects CleanSpark's hashrate to reach 37 EH/s before the end of 2024, highlighting the rapid growth and successful partnerships with local communities.

CleanSpark Inc. (Nasdaq: CLSK) has announced the acquisition of seven bitcoin mining facilities in the Knoxville, Tennessee area for $27.5 million. This strategic move is expected to add over 85 MW of immediately available capacity and increase the company's hashrate by 5 EH/s, boosting its current capacity by over 22%. The acquisition is set to close by September 25, 2024.

With this expansion, CleanSpark anticipates reaching 37 EH/s before the end of 2024, up from its previous 23 EH/s. The company plans to install the latest generation S21 pro miners, which have already arrived. CEO Zach Bradford highlighted the strategic timing of mining server purchases, allowing CleanSpark to capitalize on market opportunities and fill newly acquired data center space efficiently.

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, released its unaudited bitcoin mining update for August 2024. The company mined 478 bitcoin and increased its total operating hashrate by 1.4 EH/s. Key highlights include:

- Month-end operating hashrate: 22.6 EH/s
- Deployed fleet: 163,648 miners
- Fleet efficiency: 22.70 J/Th
- Total bitcoin holdings: 7,558
- Bitcoin sold in August: 2.50 at ~$56,729 per bitcoin

CleanSpark expects 65 MW of additional data center capacity to come online in September, with expansions in Dalton (15 MW) and Sandersville (50 MW). The company is also progressing on projects in Wyoming and Tennessee, including the planned acquisition of GRIID Infrastructure Inc.

CleanSpark (NASDAQ: CLSK) reported its Q3 FY2024 financial results, showing significant growth and strategic decisions. Revenue increased 129% year-over-year to $104.1 million, despite a 50% reduction in block rewards due to Bitcoin halving. The company mined 1,583 bitcoins during the quarter. However, CleanSpark reported a net loss of $236.2 million, primarily due to non-cash factors including an unfavorable mark-to-market on bitcoin holdings and an impairment on older miners.

CleanSpark's current hashrate surpassed 22 EH/s, with a 24% increase during the quarter and a 21% improvement in efficiency year-to-date. The company is expanding into Tennessee and Wyoming. CleanSpark also partnered with Coinbase for a $50 million revolving line of credit collateralized by bitcoin holdings. As of June 30, 2024, CleanSpark had $129.2 million in cash, $413 million in bitcoin, and total assets of $1.48 billion.