CleanSpark Partners With Sustainable Bitcoin Standard to Double Down on Clean Bitcoin Mining
April 28 2022 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a
sustainable bitcoin mining and energy technology company, and
Sustainable Bitcoin Standard (“SBS”), an organization that
incentivizes clean bitcoin mining, jointly announced that
CleanSpark is now a partner of SBS.
Both parties share a common mission to make bitcoin mining
cleaner via transparent and verifiable industry standards. SBS will
provide CleanSpark with verifiable proof for the bitcoins that the
Company sustainably mines as part of the partnership.
The stigma around the energy consumption of cryptocurrency
mining, and the absence of verifiable standards for the use of
renewable energy in bitcoin mining, limit the asset’s adoption by
institutional investors, who are increasingly required to meet ESG
commitments. SBS solves this problem by awarding bitcoin miners who
use verified clean energy by issuing Sustainable Bitcoin
Certificates (SBC) for each bitcoin they mine sustainably. This
approach allows investors to add “Proof of Sustainable Mining” to
their bitcoin holdings. SBS’s other mining partners include Jihan
Wu’s BitDeer and Luxxfolio (formerly Westblock).
“CleanSpark has been focused on using clean energy since day
one. In fact, this focus pre-dates our bitcoin mining operations,”
said Matt Schultz, CleanSpark’s executive chairman. “We have
partnered with SBS because we believe that it's important for the
industry to use verified clean energy aligned with existing
renewable energy frameworks.”
“SBS was designed to allow ‘Proof of Sustainable Mining’ to be
transferred between bitcoin miners who use renewable energy and
investors without disrupting the fungibility of Bitcoin,” said
Bradford van Voorhees, co-founder of SBS. “We are proud to have a
top sustainable bitcoin mining company, which is also one of the
biggest publicly traded bitcoin miners, as a mining partner of
SBS.”
In September, CleanSpark announced it would work with Georgia
Power to invest in a $2 million power expansion, benefiting power
customers and community members living near its bitcoin mining
facility in Norcross. Last month, it announced an increase in the
starting salary of all existing entry-level positions in its mining
operations to better the lives of its team members. And most
recently, CleanSpark revealed that it was expanding its mining
operations in Texas with up to 500 megawatts of renewable
energy.
About CleanSpark
CleanSpark, Inc. (Nasdaq: CLSK), 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.
About Sustainable Bitcoin Standard
Sustainable Bitcoin Standard (SBS) is a global sustainability
protocol designed to help BTC become our planet’s most
sustainable asset class, while preserving fungibility and long term
integrity of the network. SBS works closely with leading nonprofits
and standard bodies in renewable energy and energy audits, to issue
Sustainable Bitcoin Certificates (SBCs) to miners who are verified
to use renewable and clean energy. SBS’s investors include BitDeer,
Hawksburn Capital, New Layer Capital, BlackPine, Stacks Accelerator
and prominent angels in institutional finance. For more information
about SBS or to become a SBS partner, visit
www.sustainablebtc.org
Investor Relations Contact
Matt Schultz, Executive Chairmanir@cleanspark.com
Media Contacts
Isaac Holyoakpr@cleanspark.com
BlocksBridge ConsultingNishant
Sharmacleanspark@blocksbridge.com
Isaac Holyoak
CleanSpark, Inc.
702-989-7694
pr@cleanspark.com
CleanSpark (NASDAQ:CLSK)
Historical Stock Chart
From Mar 2024 to Apr 2024
CleanSpark (NASDAQ:CLSK)
Historical Stock Chart
From Apr 2023 to Apr 2024