Cleanspark Inc Stock Price, News & Analysis

CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 1,000 additional ASIC Bitcoin miners, set for delivery next month. This follows a previous order of 500 ASICs, enhancing the company’s mining capacity by over 100 PH/s, reaching approximately 300 PH/s. CleanSpark aims to capitalize on rising Bitcoin prices and the demand for efficient mining operations. CEO Zachary Bradford emphasized the strategic advantage of acquiring miners for immediate deployment, positioning the company for substantial returns in the growing Bitcoin market.

CleanSpark, Inc. (Nasdaq: CLSK) announced an update on its acquisition of ATL Data Center LLC, focusing on enhanced Bitcoin mining operations. The company's patented microgrid software is expected to boost energy efficiency, with approximately 10 Bitcoins already mined, valued at around $200,000. CleanSpark has ordered 500 additional ASIC mining units to increase capacity, currently exceeding 200PH/s. The acquisition aims to leverage renewable energy, positioning CleanSpark to minimize costs and maximize profitability in the competitive Bitcoin mining landscape.

CleanSpark, Inc. (Nasdaq: CLSK) reported a revenue increase of 122%, surpassing $10 million for the fiscal year ended September 30, 2020, marking the third consecutive year of doubling revenues. Gross profit rose to $2.12 million with a gross margin of 21.1%. Despite a net loss of $23.3 million, improvements were seen in operational loss and cash flow. The company raised $44 million in funding, enhancing financial stability. Looking ahead, CleanSpark anticipates $20 million in revenue for fiscal 2021, boosted by recent acquisitions and an expanding proposal pipeline.

CleanSpark, Inc. (Nasdaq: CLSK) has partnered with Symmetric Energy to advance microgrid projects in Northern California. This collaboration aims to deliver reliable backup energy and off-grid solutions through solar PV and energy storage systems for both commercial and residential applications.

Symmetric will utilize CleanSpark's patented mPulse controls and mVSO design software for project analysis, enabling enhanced energy security and cost efficiency for clients in regions prone to power outages.

On December 10, 2020, CleanSpark (CLSK) announced its acquisition of ATL Data Centers for up to $19.4 million in stock. This strategic move follows a $40 million institutional investment, aiming to enhance energy capacity and reduce costs at ATL's facility, which currently operates 3,471 Bitcoin mining units. CleanSpark plans to increase power from 20MW to 50MW by April 2021 and deploy renewable energy solutions. The acquisition is expected to position CleanSpark among the largest publicly traded Bitcoin producers, leveraging its advanced energy technologies.

CleanSpark, a diversified software and services company, will participate in the Water Tower Research Virtual Conference on December 10, 2020, at 3:00 pm ET. CEO Zachary Bradford will discuss the company’s innovation-driven expansion strategy and its accretive acquisition plans, which aim to enhance growth in target verticals. Interested investors can register for the event to gain insights into the firm's future opportunities in distributed energy software. Registration is limited, but the event will be available for replay.

CleanSpark, Inc. (Nasdaq: CLSK) announced its subsidiary, GridFabric, has achieved OpenADR certification for Electriphi's EV fleet charging platform. This certification enables Electriphi to integrate into utility load shifting programs efficiently. GridFabric has certified eight EV companies since its inception, showcasing its strength in this vertical. Sanjay Dayal of Electriphi emphasized the certification enhances their platform's compatibility with utilities. CEO Zachary Bradford noted the significance of assisting Electriphi in promoting clean technology in the EV space.

CleanSpark, Inc. (Nasdaq: CLSK) announced the addition of Rachel Silverstein as Vice President of Compliance and General Counsel, and Owen Cadwalader as Vice President of Operations. These appointments follow a recent $40M institutional investment, aiming to enhance growth through compliance streamlining and operational efficiencies. CEO Zachary Bradford emphasized that these experienced additions will boost value and operational capabilities. The company also plans to expand its professional teams and develop new products, including GridFabric SaaS and Energy-as-a-Service offerings.

CleanSpark, Inc. (Nasdaq: CLSK) will be a Platinum Sponsor at the Microgrid Knowledge 2020 Global Conference from November 17-19. This event will gather key industry leaders focused on microgrids and distributed energy solutions. CleanSpark's CTO, Amanda Kabak, will participate in a roundtable discussing advancements in microgrid controls. CEO Zachary Bradford highlighted the conference as an opportunity to strengthen partnerships and connect with potential clients in the energy sector. The event aims to enhance knowledge sharing and networking among energy innovators.