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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, Inc. (Nasdaq: CLSK), known as America’s Bitcoin Miner™, will present its fiscal second quarter 2023 financial results on May 10, 2023, at 4:30 p.m. ET. This presentation will be accessible via a live webcast following the release of results after regular trading hours on the same day. CleanSpark emphasizes its commitment to sustainable energy solutions for Bitcoin mining, focusing on low-carbon energy sources. The company has received recognition on the Financial Times' list of the 500 Fastest Growing Companies in the Americas and Deloitte’s Fast 500.
CleanSpark (Nasdaq: CLSK), America’s Bitcoin Miner™, announced a significant purchase of 45,000 Antminer S19 XP units for $144.9 million. This acquisition is expected to enhance the company’s hashrate, increasing it by 95% to approximately 15.9 EH/s, nearing its year-end target of 16 EH/s. The machines will be delivered before September, aligning with ongoing expansions at its Sandersville, Georgia facility. Previously, in February, CleanSpark secured 20,000 units, adding another 2.44 EH/s. CEO Zach Bradford emphasized the strategic timing of these purchases in the current bear market, positioning CleanSpark as a leader in operational efficiency. The company primarily uses low-carbon energy and has demonstrated strong hashrate realization rates since January 2022.
CleanSpark, America’s Bitcoin Miner™, announced that its leadership team, including CEO Zach Bradford, Executive Chairman Matthew Schultz, and CFO Gary Vecchiarelli, will present at two significant conferences this spring. The first is the 2023 AIM Summit in London on April 14, where Bradford will discuss sustainable bitcoin mining. Schultz will also deliver a keynote on Bitcoin & the Future of Abundant Energy. The second event, the 18th Annual Needham Technology & Media Conference in New York, will take place from May 16-18. Interested investors can access the slide presentation on CleanSpark's website beginning May 16. As a leader in sustainable bitcoin mining, CleanSpark focuses on energy independence and low-carbon energy sources.
CleanSpark (Nasdaq: CLSK) reported 598 bitcoin mined in March 2023, bringing the total for the first quarter to 1,871 bitcoin, a 22% increase from the previous quarter. The company is progressing on its 50MW expansion in Washington, with plans for a hashrate increase to 8.7 EH/s shortly, reflecting its goal of 16 EH/s by year-end. CleanSpark converted 502 bitcoins for operations generating approximately $12.4 million at an average price of $24,800 per bitcoin. The Washington facility is set to leverage low-carbon energy, supporting sustainable bitcoin mining.
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