SALT LAKE CITY, July 14, 2021 /PRNewswire/ -- CleanSpark, Inc.
(Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified
software, services and Bitcoin mining company, today announced that
it has entered into an agreement with a new partner, Coinmint,
pursuant to which it expects to deploy nearly 25 MW of its highly
efficient Bitmain S19 Pro miners at a location operated by
Coinmint.
CleanSpark, Coinmint to Collaborate on Bitcoin Mining Zero-Carbon
Solutions, Equipment Deployment.
CleanSpark plans to deploy approximately 750 PH/s in hashrate
capacity at Coinmint's facility in Massena, New York between July and
September 2021. To support this
hashrate, Coinmint has agreed to provide 25 MW of power, provide
operations support and commit to 98% uptime. The Company expects
this agreement to rapidly increase its overall hashrate across all
Bitcoin mining locations to 1.2 EH/s upon installation and believes
that it will allow CleanSpark to maximize its Bitcoin production
while maintaining all aspects of the Company's ESG-based mining
philosophy.
Coinmint operates the largest private digital currency data
center in the world. The power is primarily derived from
hydroelectric power, and, including all sources, achieves an energy
mix that is 94% carbon-free. Coinmint is focused on all aspects of
environmental, social and corporate governance ("ESG"); in addition
to operating a site powered primarily by renewable energy, Coinmint
focuses on sustainability and providing jobs within their
community. Additionally, CleanSpark and Coinmint intend to
collaborate on further expansion of their green energy initiatives,
with a goal of reaching 100% renewable power.
Coinmint CFO Michael Maloney
stated, "Space and power for mining is in high demand, but we
choose our partners carefully, we selected CleanSpark as a partner
due to their alignment on ESG and sustainable mining practices.
Coinmint is uniquely positioned in the market to offer sizable
amounts of energy and superior operational excellent to
cryptocurrency miners focused on green energy. We also are
looking into to transforming the remaining 6% of non-renewable
energy with onsite renewables and we believe CleanSpark is the
right partner to help us achieve this goal. Coinmint looks
forward to working with their energy professionals and proprietary
energy solutions to expand our renewable energy
infrastructure."
CleanSpark President and CEO Zach
Bradford added, "This is a very exciting opportunity for
CleanSpark. We are pleased to align ourselves with a company that
has a similar ESG approach and a strong history of performance as a
mining service provider. We anticipate that this agreement will
enable us to expedite the time to reach 1.2 EH/s. All of our recent
shipments of mining rigs have arrived as agreed under our purchase
agreements. Over the course of the next three months, we plan to
redirect our shipments to the Coinmint facilities to maximize the
contracted 25 MW of clean power. Once we have reached full
allocated capacity under the Coinmint agreement, we will then
direct shipments of the new units to our Atlanta facilities."
Mr. Bradford further commented, "The 30MW energy expansion of
our wholly-owned facilities is progressing and will be finalized in
the coming months to bring our Atlanta facilities to 50MW of total capacity.
We intend to deploy miners to utilize the total available capacity
in Atlanta with the units
scheduled to arrive between September
2021 and January 2022. Upon
installation, CleanSpark's total deployed hashrate is expected to
exceed to 2.1 EH/s. Due to the rapid exodus of Chinese miners, an
industry-wide shift has taken place, and we believe that this is
the perfect time to align with a partner to secure additional
capacity to create flexibility and sustainability in our overall
operations. This partnership is expected to provide us additional
flexibility over time with a like-minded partner to continue the
growth of our mining operations. We anticipate that this
flexibility will allow us to continue to deploy capital on new
facilities and power expansion. The CleanSpark energy team is
excited by the opportunity to support Coinmint in achieving their
goal of 100% carbon-free operations, an objective shared across all
of our business units."
Since the acquisition of ATL Data Centers, CleanSpark has
exceeded 470 PH/s in hashrate capacity, mined more than 410
Bitcoins, and is currently mining an average of more than four (4)
Bitcoins per day. For more information about CleanSpark's Bitcoin
operation, visit https://www.cleanblok.com/.
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.
About Coinmint
Coinmint designs, builds and manages large-scale, secure and
sustainable data centers across the
United States. Since 2016, these centers have focused on the
production of efficient computational processing power (or hash
rate) as well as the creation of digital asset infrastructure -
principally in the form of Bitcoin and other leading digital
currencies. In 2017, Coinmint acquired the Alcoa East Facility to
supply its 435 Megawatt mining center, making it the world's
largest green digital currency data processor, based on capacity.
Find out more at www.coinmint.one
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, operating results, business
strategy, partnership with Coinmint, deployment of miners, digital
currency mining activities, the growth of its facilities 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: 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 success of its digital
currency mining activities; 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.
Contacts:
Investor Relations:
CleanSpark,
Inc.
Investor Relations
(801) 244-4405
Press:
Trish
DaCosta
KCD PR
Cleanspark@kcdpr.com
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SOURCE CleanSpark, Inc.