Seizing Spot Market Opportunity, CleanSpark Secures More Bitcoin Mining Machines for Immediate Delivery
November 19 2021 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a
sustainable bitcoin mining and energy technology company, today
announced the purchase of an additional 2,597 units of the Antminer
S19 bitcoin (BTC) mining machines.
Delivery of the machines is scheduled to be immediate, adding to
the 2,711 rigs already purchased and scheduled for delivery this
month. These orders are expected to substantially add to the
Company’s hashrate over the coming weeks.
CleanSpark employs a sustainable business strategy of converting
a portion of its BTC holdings to fund operations and expansion,
with a goal of limiting shareholder dilution.
“We continue to take advantage of favorable pricing in the spot
market to purchase machines as opportunities present themselves,
rather than locking up capital for long periods of time, while we
use the standard strategy of future delivery contracts,” said Zach
Bradford, CEO and President.
The Company currently operates more than 12,800 miners,
providing a hashrate of 1.3 EH/s.
About CleanSpark CleanSpark, Inc., a
Nevada corporation, is a sustainable bitcoin mining and energy
technology company that is focused on solving modern energy
challenges. 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, 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 logistics and shipping and 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.
Investor Relations Contact: Matt
Schultz ir@cleanspark.com
Media Contacts: Isaac
Holyoak pr@cleanspark.com
BlocksBridge Consulting Nishant
Sharma cleanspark@blocksbridge.com
Isaac Holyoak
CleanSpark, Inc.
pr@cleanspark.com
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