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CLEANSPARK INC - CLSK STOCK NEWS

Welcome to our dedicated page for CLEANSPARK news (Ticker: CLSK), a resource for investors and traders seeking the latest updates and insights on CLEANSPARK stock.

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.

News

CleanSpark Exceeds 15 EH/s, Completes Acquisition of Mississippi Bitcoin Mining Data Centers

Rhea-AI Summary
CleanSpark, Inc., a leading Bitcoin miner, has completed the acquisition of three bitcoin mining data centers in Mississippi, boosting its operating hashrate to over 15 EH/s. The company aims to create jobs and foster economic growth in the region while maximizing grid services capabilities.
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CleanSpark Exceeds 14 EH/s as Sandersville Expansion Comes Online

Rhea-AI Summary
CleanSpark Inc. (CLSK) has completed energizing the first 100 MW of its expansion in Georgia, increasing its operating hashrate by 40% to over 14 EH/s. The company aims to provide grid services and economic development to the community while partnering with utilities for energy resilience.
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CleanSpark Reports First Quarter FY2024 Financial Results

Rhea-AI Summary
CleanSpark, Inc. (Nasdaq: CLSK) reported a strong financial performance for the first quarter of FY2024, with a revenue of $73.8 million, net income of $25.9 million, and adjusted EBITDA of $69.1 million. The company's revenue grew by an impressive 165% year over year, and it surpassed its current hashrate to over 12.5 EH/s. The CEO emphasized the company's strategic acquisitions, operational efficiency, and commitment to smart growth, positioning them as leaders in the bitcoin mining industry. The CFO highlighted the company's exponential growth, liquidity, and balance sheet strength, preparing them to thrive in the future. The balance sheet showcased strong financials, with $181.7 million in current assets, $484.0 million in total mining assets, and $810.6 million in total stockholders' equity. The company will hold an investor conference call and webcast to discuss the earnings presentation and business update.
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CleanSpark Announces Two New Acquisitions, Securing Power and Infrastructure to Reach 20 EH/s

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CleanSpark Inc. (Nasdaq: CLSK) has announced the acquisition of three turnkey bitcoin mining facilities in Mississippi and the expansion of its Dalton facilities, expected to generate a total operating hashrate of 2.4 EH/s. The company also plans to acquire a third mining facility in Dalton and is set to exceed 20 EH/s in the first half of 2024. The acquisitions are expected to be funded with cash on hand.
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CleanSpark Releases January 2024 Bitcoin Mining Update

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CleanSpark Inc. (Nasdaq: CLSK) announces the expansion of their Dalton, GA site, expected to operate at 1.6 EH/s once complete. The company also released an unaudited bitcoin mining and operations update for January 2024, with details on bitcoin mined, holdings, sales, and operational updates for Sandersville and Dalton expansions.
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CleanSpark Executives to Discuss Fiscal First Quarter 2024 Financial Results Via Webcast

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CleanSpark Inc. (Nasdaq: CLSK) will discuss its fiscal first quarter 2024 financial results via a live webcast on February 8, 2024. Results will be released after the close of regular trading. Downloadable files, including transcripts, will be available on the company website 48 hours after the event.
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CleanSpark Announces Strategic Agreement for up to 160,000 Bitmain S21 Miners, Path to 50 EH/s

Rhea-AI Summary
CleanSpark Inc. (CLSK) announced the purchase of up to 160,000 Bitmain S21 miners, positioning the company to expand into the next bull market. The agreement includes a strategic call option to purchase an additional 100,000 machines at a fixed price of $16.00 per terahash until the end of the calendar year. Delivery of the initial 60,000 units is expected between April and June 2024, with the potential to increase CleanSpark's hashrate to approximately 50 EH/s, a 400% increase from its current hashrate of 10 EH/s.
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CleanSpark Releases December 2023 Bitcoin Mining Update

Rhea-AI Summary
CleanSpark Inc. (CLSK) mined 7,391 bitcoins in 2023, a 60% increase over 2022. Bitcoin holdings grew over 1,200% to 3,002 BTC valued at approximately $135M USD. The company also achieved a record 720 bitcoins mined in December. CEO Zach Bradford expressed pride in the company's accomplishments and highlighted the completion of building structures for the Sandersville expansion.
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CleanSpark Releases November 2023 Bitcoin Mining Update

Rhea-AI Summary
CleanSpark Inc. (CLSK) mined 666 bitcoin in November, marking a 24% increase from the same period last year. The company also reported an improved efficiency of 26.4 J/Th and a significant increase in production from fees, indicating potential growth in revenue. Operational uptime reached an exceptional 99.98%, showcasing the team's dedication and skill.
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CleanSpark Reports Fiscal Year 2023 Financial Results

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CleanSpark, Inc. (Nasdaq: CLSK) reports a 28% year-over-year revenue growth, with annual bitcoin production nearly doubling to 6,903. The FY2023 revenue stands at $168 million, with a net loss of $(137) million and Adjusted EBITDA of $25 million. The company also reports current cash and bitcoin holdings of approximately $168 million.
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FAQ

What is the current stock price of CLEANSPARK (CLSK)?

The current stock price of CLEANSPARK (CLSK) is $15.1 as of November 22, 2024.

What is the market cap of CLEANSPARK (CLSK)?

The market cap of CLEANSPARK (CLSK) is approximately 3.6B.

What does CleanSpark Inc. do?

CleanSpark Inc. is a leader in bitcoin mining, leveraging sustainable and reliable energy solutions. They operate efficient, low-carbon data centers dedicated to mining bitcoin.

When was CleanSpark Inc. founded?

CleanSpark Inc. was founded in 2013 by Michael Firenze, Art Villanueva, and Bryan Huber.

What is the Flex Power System?

The Flex Power System is an innovative solution by CleanSpark that offers energy security at or below current electricity prices, providing cost-effective energy for up to 25 years or more.

What are CleanSpark's recent achievements?

CleanSpark has recently increased its hashrate by 60%, added nearly 5,000 bitcoins to its treasury, and expanded its operational capacity to over 17 EH/s with new acquisitions in Mississippi and Georgia.

How does CleanSpark ensure sustainability in its operations?

CleanSpark operates data centers that primarily run on low-carbon power, leveraging advanced energy management technologies to ensure efficient and sustainable operations.

What is the significance of CleanSpark's acquisitions in Wyoming?

The acquisitions in Wyoming are expected to add over 4 EH/s to CleanSpark's operational capacity once fully functional, further enhancing their mining efficiency and output.

What is CleanSpark's financial condition?

CleanSpark maintains a strong financial position with nearly $700 million in cash and bitcoin and minimal debt, reporting significant revenue increases in recent quarters.

How does CleanSpark communicate with its investors?

CleanSpark regularly updates its investors through press releases, earnings calls, and detailed operational updates, ensuring transparency and trust.

Where can I find more information about CleanSpark?

You can find more information about CleanSpark on their official website at www.cleanspark.com.

What is the impact of bitcoin halving on CleanSpark?

Bitcoin halving has increased transaction fees, boosting CleanSpark's bitcoin production. The company’s efficient operations and low-cost power ensure they remain competitive post-halving.

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CLEANSPARK INC

Nasdaq:CLSK

CLSK Rankings

#1555 Ranked by Market Cap
N/A Ranked by Dividends

CLSK Stock Data

3.57B
245.17M
3%
43.72%
21.45%
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