SALT LAKE CITY, May 13, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK)("CleanSpark" or "the Company"),
a diversified energy services and Bitcoin mining company,
focused on solving modern energy challenges, today announced the
purchase of 2,400 additional S19-Pro rigs for delivery in the
coming month to increase the overall hashrate efficiency of its
mining fleet. The replacement of older-generation equipment is a
strategic step in the Company's efforts to maximize energy
efficiency in conjunction with its ESG focused approach to Bitcoin
mining.
CleanSpark Further Increases Efficiency at 95% Carbon-Free Bitcoin
Mining Facility.
The new miners will be deployed immediately upon arrival at the
Company's Bitcoin mining facilities outside of Atlanta, Georgia. These new units are expected
to be delivered during the first week of June 2021. Additionally, the Company has entered
into an agreement to sell a portion of the replaced, prior
generation rigs which consume more power and produce a much lower
hashrate. CleanSpark anticipates that the exchange will decrease
overall energy consumption approximately 1 MW while increasing
corresponding production efficiency of the replaced equipment by
over 37.5%.
The Company also expects to recognize a significant profit on
the sale of the displaced units, most of which were purchased as
part of the acquisition of ATL Data Center, LLC in December of
2020.
CleanSpark's Chief Executive Officer Zach Bradford stated, "This is an additional
step in making our mining operation more efficient, which further
aligns with our previously stated objective of operating all
company-owned facilities at or near carbon neutral. We have
publicly disclosed our current energy mix of 95% carbon-free power,
at a fixed price of $0.0285 kWh. In
the current climate, being sufficiently capitalized to secure and
quickly install this additional order of highly sought after S19
Pro 110 TH/s units is a significant accomplishment. The 1 MW that
will be made available as a result of the increased efficiency will
now be used to power additional S19 units slated for arrival over
the coming months. Additionally, because of the market and global
increase in bitcoin prices and demand for rigs, we are able to sell
our prior-generation, less-efficient models at substantial gains.
This transition to the upgraded equipment is expected to increase
our hash rate capacity to over 400 PH/s while using the same amount
of power that we previously used to generate 330 PH/s. At current
difficulty rates this improvement will increase our daily
production by an estimated half of a bitcoin per day."
Parties interested in learning more about CleanSpark products
and services are encouraged to inquire by contacting the Company
directly at info@cleanspark.com or visiting the Company's website
at www.cleanspark.com.
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the
business of providing advanced software, controls, and technology
solutions to solve modern energy challenges. CleanSpark has a suite
of software solutions that provides end-to-end microgrid energy
modeling, energy market communications, and energy management
solutions. CleanSpark's offerings consist of intelligent energy
monitoring and controls, intelligent microgrid design software,
middleware communications protocols for the energy industry, energy
system engineering, custom hardware solutions, microgrid
installation and implementation services, traditional data center
services and software consulting services.
The Company and its subsidiaries also own and operate a fleet of
Bitcoin miners at its facility outside
of Atlanta, Georgia.
For more information about the Company, please visit the
Company's website at
https://www.cleanspark.com/investor-relations.
Forward-Looking Statements:
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's plans and expectations for
expansion of its energy initiatives, deployment of miners, the
growth of the facility and other statements regarding the
expectations, beliefs, plans, intentions, and strategies of the
Company. The Company has tried to identify these forward-looking
statements by using words such as "expect," "target," "anticipate,"
"believe," "could," "should," "estimate," "intend," "may," "will,"
"plan," "goal" and similar terms and phrases, but such words, terms
and phrases are not the exclusive means of identifying such
statements. Actual results, performance and achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation: delays in
equipment and battery energy storage systems availability and
delivery, the successful deployment of energy solutions for
residential and commercial applications, the fitness of the
Company's energy hardware, software and other solutions for this
particular application or market, the expectations of future
revenue growth may not be realized, ongoing demand for the
Company's software products and related services, the impact of
global pandemics (including COVID-19) on the demand for our
products and services; and other risks described in the Company's
prior press releases and in its filings with the Securities and
Exchange Commission (SEC), including under the heading "Risk
Factors" in the Company's Annual Report on Form 10-K and any
subsequent filings with the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof, and we undertake no obligation to
revise or update this press release (including any forward-looking
statements contained herein) to reflect events or circumstances
after the date hereof.
Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405
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SOURCE CleanSpark, Inc.