SALT LAKE CITY, April 15, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"),
a diversified software, services, and Bitcoin mining company,
today announced that it has secured multiple contracts for mining
equipment.
New Bitcoin Miners Give CleanSpark 3.2 EH/s Mining Capacity
Following Deployment.
The Company has now secured contracts for all of the equipment
necessary for CleanSpark's mining operation to increase its Bitcoin
mining capacity to meet its stated objective of a total hash rate
capacity of more than 1.1 EH/s by summer of 2021. Additionally,
CleanSpark has now secured a total of 22,680 S19j Pro and S19 Pro
Antminers for future delivery under annual contracts. The
Company contracted directly with Bitmain Technologies Ltd. for
7,200 Sj19 Pro Antminers and has executed two additional contracts
with a premier cryptocurrency mining equipment dealer for a total
of 15,480 S19j Pro and S19 Pro Antminers. These annual contracts
are expected to provide an additional 2.23 EH/s in hash rate
capacity. The units purchased under these contracts are expected to
be delivered at an average rate of approximately 1,620 units per
month over a 14-month period, with the first batch scheduled for
delivery in August 2021. The Company
expects that these new units will enable CleanSpark to increase its
total mining production capacity to over 3.2 EH/s, following the
delivery and deployment of all the equipment.
Zach Bradford, CleanSpark's Chief
Executive Officer, stated, "We are pleased to announce that we have
secured mining equipment for more than 1.1 EH/s of Bitcoin mining
production capacity for deployment this summer, which is a
significant milestone for the Company. Time is money in this
industry, and we wanted to ensure that we have both our immediate
needs covered but we also wanted to look to the future to ensure we
had a reliable baseline supply of future miner deliveries secured
to support our long-term growth. In addition to these orders, we
will continue to source miners on a periodic basis to further
increase or upgrade our total mining capacity. The miners we have
secured are expected to allow us to increase our total mining
capacity ten times by mid-2022. As part of our expansion plans, we
are actively evaluating multiple locations for additional expansion
with a focus on sites supplied by clean energy sources."
Recently, CleanSpark announced that the energy mix for its
Atlanta location is 95% carbon
free, sourced primarily from nuclear, hydroelectric, solar and
other renewables. These emission calculations are before any of the
planned solar, storage and other clean energy assets are added to
the site. The Company aims to achieve carbon-neutrality from its
current cryptocurrency operations in the near future.
Mr. Bradford commented, "We believe that being a good corporate
citizen is imperative and will continue to focus on the Company's
environmental impact at future sites. We are already mining at
scale with a very small carbon footprint and expect to have
approximately 45MW of 95% carbon free power dedicated to Bitcoin
mining under management by summer 2021, with hopes to achieve 98%
carbon free mining in the coming months."
Parties interested in learning more about CleanSpark products
and services are encouraged to inquire by contacting the Company
directly at info@cleanspark.com or visiting the Company's website
at www.cleanspark.com.
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the
business of providing advanced software, controls and technology
solutions to solve modern energy challenges. CleanSpark has a suite
of software solutions that provides end-to-end microgrid energy
modeling, energy market communications, and energy management
solutions. CleanSpark's offerings consist of intelligent energy
monitoring and controls, intelligent microgrid design software,
middleware communications protocols for the energy industry, energy
system engineering, custom hardware solutions, microgrid
installation and implementation services, traditional data center
services and software consulting services.
The Company and its subsidiaries also own and operate a fleet of
Bitcoin miners at its facility outside
of Atlanta, Georgia.
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, its goal to achieve
carbon-neutrality, deployment of Bitcoin miners, the growth of the
facility 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: delays in equipment and battery
energy storage systems availability and delivery, the successful
deployment of energy solutions for residential and commercial
applications, the fitness of the Company's energy hardware, the
availability of clean energy sources, software and other solutions
for this particular application or market, 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 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.
Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cleanspark-purchases-22-680-additional-bitcoin-miners-and-anticipates-3-2-ehs-capacity-after-deployment-301269880.html
SOURCE CleanSpark, Inc.