CleanSpark Announces March 2022 Bitcoin Production
April 05 2022 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a
sustainable bitcoin mining and energy technology company, today
released its unaudited bitcoin production and operations update for
the calendar year-to-date ending March 31, 2022.
Bitcoin Production & Operations Update
(unaudited)
- March monthly production: 318
- Calendar year-to-date production ending March 31:
898
- Total BTC holdings as of March 31: 420
- Total BTC converted for operations and growth in March:
391
- Currently deployed fleet of over 23,000 latest-generation
bitcoin miners with a total hashrate of 2.3 EH/s
The Company fully funded growth and operations through the sale
of 420 bitcoins in March 2022 at an average of approximately
$42,294 per BTC. Sales of BTC equated to proceeds of approximately
$17.6 million, most of which was used for growth capital
expenditures at the company’s Norcross facility. March daily BTC
production reached a high of 10.57.
Location-specific Operational
Updates
- Norcross. CleanSpark’s Norcross campus saw significant progress
during March, with about 600 immersion-cooled S19j pros hashing as
of March 31. The Company has experienced delays with its utility
partner related to weather and construction. All machines needed to
fill the facility to capacity have been received and are being
prepared for immersion cooling and deployment. The Company expects
the number of machines hashing to rapidly increase over the coming
quarter.
- Coinmint. CleanSpark has 31MW operational at Coinmint, one of
the Company’s co-hosting partners. An additional 2MW is expected to
go live in May, bringing the total hashrate at Coinmint to 1.06
EH/s, backed by over 11,500 machines.
- Lancium. CleanSpark’s newly executed contract with Lancium for
200MW is expected to increase the Company’s total hashrate to over
10 EH/s by Spring 2023. The contract also includes the option of an
additional 300MW for CleanSpark. With the 300MW option fully
deployed, CleanSpark expects to have a total of about 600MW in its
portfolio, which would power about 200,000 latest generation miners
and contribute approximately 20 EH/s to the network. Please see the
chart (attached below) for further details.
About
CleanSpark
CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin
mining and energy technology company that is 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 press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). All statements other than
statements of historical facts contained in this press release may
be forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as “may,” “will,”
“should,” “expects,” “plans,” “anticipates,” “could,” “intends,”
“targets,” “projects,” “contemplates,” “believes,” “estimates,”
“forecasts,” “predicts,” “potential” or “continue” or the negative
of these terms or other similar expressions. Forward-looking
statements contained in this press release, but are not limited to
statements regarding our future results of operations and financial
position, industry and business trends, equity compensation,
business strategy, plans, market growth and our objectives for
future operations.
The forward-looking statements in this press release are only
predictions. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends that we believe may affect our business, financial
condition and results of operations. Forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to: the
success of its digital currency mining activities; the volatile and
unpredictable cycles in the emerging and evolving industries in
which we operate, increasing difficulty rates for bitcoin mining;
bitcoin halving; new or additional governmental regulation; the
anticipated delivery dates of new miners; the ability to
successfully deploy new miners; the dependency on utility rate
structures and government incentive programs; the successful
deployment of energy solutions for residential and commercial
applications; 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. The forward-looking statements in this press release
are based upon information available to us as of the date of this
press release, and while we believe such information forms a
reasonable basis for such statements, such information may be
limited or incomplete, and our statements should not be read to
indicate that we have conducted an exhaustive inquiry into, or
review of, all potentially available relevant information. These
statements are inherently uncertain and investors are cautioned not
to unduly rely upon these statements.
You should read this press release with the understanding that
our actual future results, performance and achievements may be
materially different from what we expect. We qualify all of our
forward-looking statements by these cautionary statements. These
forward-looking statements speak only as of the date of this press
release. Except as required by applicable law, we do not plan to
publicly update or revise any forward-looking statements contained
in this press release, whether as a result of any new information,
future events or otherwise.
Investor Relations
Contact: Matt
Schultz ir@cleanspark.com
Media Contacts: Isaac
Holyoak
pr@cleanspark.com
BlocksBridge Consulting Nishant
Sharma cleanspark@blocksbridge.com
- Bitcoin Mined and Hashrate Growth
Isaac Holyoak
CleanSpark, Inc.
702-989-7694
pr@cleanspark.com
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