CleanSpark Announces June 2022 Bitcoin Production
July 06 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 June 30, 2022.
Bitcoin Production & Operations Update
(unaudited)
- June monthly production: 339
- Calendar year-to-date production ending June 30:
1863
- Total BTC holdings as of June 30: 561
- Total BTC converted for operations and growth in June:
328
- Currently deployed fleet of approximately 28,500
latest-generation bitcoin miners with a hashrate exceeding 2.8
EH/s
The Company fully funded growth and operations through the sale
of 328 bitcoins in June 2022 at an average of approximately $25,644
per BTC. Sales of BTC equated to proceeds of approximately $8.4
million. June daily BTC production reached a high of
12.1.
Energy Business
Update
CleanSpark is one step closer to being a pure play bitcoin miner
after achieving the important milestone last month of exiting the
switchgear business. The agreement releases the Company from all
liabilities related to its prior switchgear business, while
retaining certain receivable rights from existing contracts.
Additionally, certain prepaid deposits are expected to be returned
to CleanSpark. “This move strengthens our balance sheet and frees
up working and human capital for our high-value, bitcoin mining
business,” said Zach Bradford, CEO.
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 include, but are not
limited to, statements regarding our future deliveries of miners
and other related infrastructure, future deliveries of immersion
cooling equipment, and future deployment of energy infrastructure,
industry and business trends, our business and financial/capital
strategy, 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 timely completion
of mining facilities or expansions thereof; recognizing the full
benefits of immersion cooling; future hashrate growth; the
expectations of future revenue growth may not be realized; 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 ContactMatt
Schultz ir@cleanspark.com
Media Contacts Isaac
Holyoak
pr@cleanspark.com
BlocksBridge Consulting Nishant
Sharma cleanspark@blocksbridge.com
Isaac Holyoak
CleanSpark, Inc.
702-989-7694
pr@cleanspark.com
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