CleanSpark, Inc. (Nasdaq: CLSK) (the “Company”), America’s Bitcoin
Miner™, today announced it has entered into a definitive agreement
to acquire an active bitcoin mining facility located in Washington,
Georgia, for $16.2 million.
The Company has also purchased approximately 3,400 of the latest
generation Antminer S19 series of machines for approximately $8.9
million. These machines, already operating at the acquired site,
will add over 340 petahashes per second (PH/s) of computing power.
The Company will fill the balance of the 36 MW with machines
already paid for and on hand. The site has exclusive rights to an
additional 50 MW of power, making the site scalable to 86
MW.
“We are excited to expand our footprint in Georgia,” said Zach
Bradford, CleanSpark’s CEO. “The market has been preparing all
summer for consolidation, and we are pleased to be on the acquiring
side. Our focus on sustainability and maximizing value for our
stakeholders have put us in a unique position to take advantage of
the unprecedented opportunities that the current market has
created. We are especially excited to be working with the citizens
of Washington, GA, who have been so welcoming to us. We look
forward to maintaining and growing jobs and infrastructure at our
new campus in Washington.”
The site is CleanSpark’s third clean-energy campus in Georgia,
with other locations in College Park and Norcross. It draws power
predominantly from low-carbon sources, such as nuclear energy.
“We are thrilled to welcome CleanSpark to Washington, Georgia,”
said Washington Mayor Bill deGolian. “This partnership will
diversify our local industry, create rural technology jobs, expand
our electric customer base, and invest in our community. We look
forward to a long and prosperous mutual relationship with
CleanSpark.”
CleanSpark seized on current market conditions to acquire the
site from Waha Technologies, a low-carbon bitcoin miner, which
includes the mining facility and machines. The majority of the
acquired machines are either the Antminer S19 or S19J Pro models,
which are among the most power-efficient bitcoin mining machines on
the market. The Company expects to close on the transaction within
the next 30 days, subject to customary closing
conditions.
“We started our first bitcoin mining business in Washington,
Georgia, because they had idle infrastructure and excess power,”
said Chris Bissell, CEO and Cofounder of WAHA Technologies. “We are
proud of what we brought to their community and are very excited to
pass the baton to CleanSpark, which will elevate the ability to
help the City of Washington thrive.”
About CleanSpark
CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Since
2014, we’ve helped people achieve energy independence for their
homes and businesses. In 2020, we began applying that expertise to
develop sustainable infrastructure for Bitcoin, an essential tool
for financial independence and inclusion. We strive to leave the
planet better than we found it by sourcing and investing in
low-carbon energy, like wind, solar, nuclear, and hydro. We
cultivate trust and transparency among our employees, the
communities we operate in, and the people around the world who
depend on Bitcoin. CleanSpark is a Forbes 2022 America's Best Small
Company and holds the 44th spot on the Financial Times' List of the
500 Fastest Growing Companies in the Americas. For more information
about CleanSpark, please visit our website at
www.cleanspark.com.
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, business strategy,
expansion 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; dependency on
third-party power providers for expansion efforts; the expectations
of future revenue growth may not be realized; 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,
Executive Chairmanir@cleanspark.com
Media ContactsIsaac
Holyoakpr@cleanspark.com
BlocksBridge Consultingcleanspark@blocksbridge.com
- Aerial view of CleanSpark's new bitcoin mining facility in
Washington, GA
- Internal view of CleanSpark's new bitcoin mining facility in
Washington, GA
Isaac Holyoak
CleanSpark, Inc.
702-989-7694
pr@cleanspark.com
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