CleanSpark Provides Bitcoin Mining Operation Update
January 05 2021 - 9:25AM
SALT LAKE CITY, January 5, 2020 -- CleanSpark, Inc. (Nasdaq: CLSK),
(“CleanSpark, or the Company”), an advanced software and controls
technology solutions company focused on solving modern energy
challenges, today announced updated total Bitcoin mining numbers
and revenues following its acquisition of its wholly owned
subsidiary, ATL Data Centers LLC.
From December 10, 2020 the first full-day of mining following
the acquisition, through the end of the calendar year, CleanSpark
produced just over 31 Bitcoins from its mining activities.
Production since the first of the year has exceeded 4.3 Bitcoins.
Bitcoin prices have rapidly escalated to as high as $34,366 over
the holiday weekend. The Company’s Bitcoin mining activities have
resulted in roughly $873,000 of revenue since the closing of the
transaction.
Zach Bradford, CEO of CleanSpark commented, “We believe in
taking a big-picture approach in how we view Bitcoin values with a
focus on profitability. Conservatively, based on our all-in costs
including energy, rent, personnel and overhead the Company can
realize a profit whenever Bitcoin values are above $6,000 per coin.
We anticipate that as we scale up our deployment of energy assets
and software, we can decrease our total cost per coin to even lower
levels. As prices fluctuate, the Company’s focus is on the
variables within our control; such as expanding the fleet of
miners, and maximizing the renewable energy usage. We anticipate
completion of our near-term expansion within the coming weeks
adding 1,500 more ASICs miners in January. We will continue to
provide periodic updates as we make additional progress on our
expansion plans with the intention of increasing production at our
Atlanta facility from the current approximately 15 MW to more than
50 MW. All of this is to swiftly move towards our goal of mining
bitcoins at the lowest energy cost in the United States.”
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.
Investors are encouraged to contact the Company
at ir@cleanspark.com, or visiting the Company’s website at
https://ir.cleanspark.com/
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of
providing advanced software and controls technology solutions to
solve modern energy challenges. We have a suite of software
solutions that provide end-to-end microgrid energy modeling, energy
market communications, and energy management solutions. Our
offerings consist of intelligent energy monitoring and controls,
intelligent microgrid design software, middleware communications
protocols for the energy industry, energy system engineering, and
software consulting services.
Through its wholly owned subsidiary ATL Data Centers LLC,
CleanSpark owns and operates a data center that provides customers
with traditional on-site and cloud-based data center services. The
Company also owns and operates a fleet of over 3,400 ASIC
(application-specific integrated circuit) Bitcoin miners producing
over 200 PH/s in mining capacity. Capacity is expected to increase
to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021.
CleanSpark plans to apply its technologies with a goal of mining
bitcoins at the lowest energy prices in the United States. For more
information, visit: https://ATL-DATA.com
Forward-Looking Statements:
CleanSpark cautions you that statements in this press release
that are not a description of historical facts are forward-looking
statements. These statements are based on CleanSpark's current
beliefs and expectations. The inclusion of forward-looking
statements should not be regarded as a representation by CleanSpark
that any of our plans will be achieved. Actual results may differ
from those set forth in this press release due to the risk and
uncertainties inherent in our business, including, without
limitation: the successful integration of ATL into CleanSpark, the
price of Bitcoin (BTC), the timing of our expansion plans, the
fitness of our energy software and solutions for this particular
application or market, the expectations of future revenue growth
may not be realized, ongoing demand for our 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 our prior press releases and in our filings with
the Securities and Exchange Commission (SEC), including under the
heading "Risk Factors" in our 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 to reflect events or
circumstances after the date hereof. All forward-looking statements
are qualified in their entirety by this cautionary statement, which
is made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
Investor Relations
CleanSpark, Inc.
(801)-244-4405
ir@cleanspark.com
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