SALT LAKE CITY, March 2, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK) (the "Company"), a diversified technology
company today announced that it has secured for delivery an
additional 2,500 ASIC mining rigs which are expected to provide an
estimated 218 PH/s of Bitcoin mining hash rate capacity. The miners
are expected to be delivered and immediately deployed throughout
June and July 2021.
CleanSpark Adds 2,500 More Bitcoin Mining Rigs to Energy-Efficient
Fleet.
The delivery dates are aligned with the Company's expected
completion of energy and infrastructure projects that will provide
an additional 30 MW of electricity to the site at a rate of
$0.0285/kwh. This order, along with
the Company's current mining fleet, is expected to bring the
Company's total hash rate up to an estimated 533 PH/s. CleanSpark
expects to make further orders in the coming weeks to secure up to
an additional 800 PH/s of mining equipment. The Company has
developed a network of dealers and distributors outside of the
traditional manufacturing supply chain to secure these additional
miners for deployment as the Company's energy infrastructure
increases become available.
Zach Bradford, CleanSpark's Chief
Executive Officer stated, "We continue to aggressively pursue the
growth of our hash rate capacity and expect to reach 1 to 1.3 EH/s
in total production capacity this summer. 'Time is money' in this
sector, and these orders allow us to immediately put the 30 MW of
increased power into use as soon as it comes online." Bradford
continued, "The availability of low-cost energy for bitcoin mining
facilities will be a constraining factor for the industry as it
grows. Cryptocurrency mining operations will further be subjected
to increased scrutiny on the sources of the incredible amount of
power required for successful execution and they will need to
ensure that there is an ongoing focus utilizing clean energy
sources to mitigate these concerns. CleanSpark has maintained
its focus on responsible energy solutions since the initial
diligence phases of the ATL acquisition. Currently, the
municipality providing our power is backed largely by a wholesale
provider that reports delivery of power that is 69% emission-free.
We plan to incorporate additional renewables onsite in the near
future. In addition to maximizing the energy use of our existing
facilities, we are targeting additional locations that offer access
to abundant, low-cost power, with an emphasis on sites that are
backed by clean energy sources and allow us the opportunity to
integrate our proprietary renewable energy solutions onsite."
CleanSpark's goal is to operate the lowest-energy-cost Bitcoin
mining facilities at scale in the nation. The Company expects to
accomplish this not only by securing advantageous power purchase
agreements, but also by leveraging its patented energy
solutions.
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,
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 facilities capable of producing an estimated
315 PH/s in hash rate capacity. Hash rate capacity is expected to
increase to over 1 EH/s in mining capacity in 2021. CleanSpark
plans to apply its energy technologies to these divisions 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: delays in equipment delivery, the value of Bitcoin, the
successful deployment of energy solutions for bitcoin applications,
the fitness of our 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 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.
Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405
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SOURCE CleanSpark, Inc.