SALT LAKE CITY, March 23, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"),
a diversified software, services, and bitcoin mining company,
today announced that it has executed more than 50 new contracts
under its residential initiative in less than one month following
its acquisition of Solar Watt Solutions (Solar Watt). These
additional CleanSpark and Solar Watt contracts for residential
microgrids and battery energy storage solutions executed since
February 24th have a face value
exceeding $1,700,000.
New CleanSpark Subsidiary Reporting Record Revenues Since
Acquisition.
A substantial percentage of the new contracts are related to
California's Self Generation
Incentive Program (SGIP), which provides a rebate to homeowners in
fire-prone areas to add energy storage backup systems. These rebate
programs offset a significant portion of the purchase price of
battery energy storage systems to provide critical power to homes
in the event of a utility grid disruption. CleanSpark and Solar
Watt are currently running co-branded marketing campaigns to
educate homeowners on the availability of these incentives for home
microgrids and battery backup systems. The Company's goal is to
provide reliable power solutions in the face of expected and
unexpected disruptions or in extreme weather situations for
residential and commercial applications.
CleanSpark is actively delivering the existing pipeline of
projects and, as discussed in a recent interview with NBC News, has
experienced a ten-fold increase in residential microgrid inquiries.
Additional marketing campaigns are expected to commence in support
of both the Company's residential initiative, as well as the launch
of the Company's planned mVoult software and controls solution.
Zach Bradford, CleanSpark's Chief
Executive Officer stated, "Acquiring an existing partner was a
deliberate move to further our reach into the residential markets
as our cross-functional teams already had experience working
together. This experience enabled us to decrease our collective
teams relative 'learning curve' and accelerate our growth without
missing a beat." Adding, "We intend to continue to be focused on
SGIP in the near term as we continue our progress towards the
planned launch of mVoult, CleanSpark's residential microgrid
product line."
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://ir.cleanspark.com/.
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 residential energy and microgrid initiatives,
revenue expectations, the launch of its mVoult product line 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.