LAS VEGAS, Dec. 02, 2022 (GLOBE NEWSWIRE) — CleanSpark, Inc. (Nasdaq: CLSK) (the “Firm” or “CleanSpark”), America’s Bitcoin Miner™, as we speak launched its unaudited bitcoin mining and operations replace for the calendar year-to-date ending November 30, 2022.
“Our groups have labored laborious this month to keep up phenomenal uptime whereas racking new machines and figuring out operational and energy efficiencies. Our efforts in the end resulted in materials beneficial properties to our hashrate to the place we as soon as once more have exceeded our yearend steering,” mentioned Zach Bradford, CEO. “Our groups and expertise are persevering with to make significant and progressive beneficial properties as we handle towards maximizing margins.”
Bitcoin Mining Replace (unaudited)
- Bitcoin mined in November: 535
- Calendar year-to-date bitcoin mined: 4,157
- Whole BTC holdings as of November 30: 281
- Whole BTC transformed for operations and progress in November: 544
- At the moment deployed fleet of about 55,000 latest-generation bitcoin miners with a hashrate of 5.5 EH/s as of November 30, up 8% from October 2022
The Firm funded progress and operations by way of the sale of 544 bitcoins in November 2022 at a median of roughly $17,300 per BTC. Gross sales of BTC equated to proceeds of roughly $9.4 million. November day by day BTC mined averaged 17.8 and reached a excessive of 19.4.
Operational Updates
Exceeds revised steering. The Firm exceeded its up to date steering of 5.5 EH/s partially because of effectivity beneficial properties, together with report uptime and efficient overclocking at its immersion-cooled campus in Norcross, Georgia. Whereas persevering with to discover alternatives for disciplined, measured progress, the administration crew doesn’t anticipate one other substantial enhance to its hashrate earlier than yearend, except 30 MW of pending capability on the Firm’s Sandersville, GA, campus comes on-line sooner than anticipated. Within the meantime, the Firm is beginning Part 2 enlargement of its Washington, GA, web site. Design and procurement are already underway, and building is predicted to start in January 2023, including a further 50MW to the campus.
Energy optimization. The Firm expects to go right into a interval of lively energy optimization over the subsequent few weeks because it balances its portfolio of energy agreements with present Bitcoin costs and in any other case seeks to maximise its margins. Consistent with that focus, the Firm continues to divest parts of its legacy vitality enterprise and has since lowered nearly all associated expenditures.
About CleanSpark
CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner. Since 2014, we’ve helped folks obtain vitality independence for his or her properties and companies. In 2020, we transitioned that experience to develop sustainable infrastructure for Bitcoin, a necessary device for monetary independence and inclusion. We try to go away the planet higher than we discovered it by sourcing and investing in low-carbon vitality, like wind, photo voltaic, nuclear, and hydro. We domesticate belief and transparency amongst our staff, the communities we function in, and the folks around the globe who depend upon Bitcoin. CleanSpark is a Forbes 2022 America’s Greatest Small Firm and holds the forty fourth spot on the Monetary Instances’ Checklist of the five hundred Quickest Rising Corporations within the Americas. For extra details about CleanSpark, please go to our web site at www.cleanspark.com.
Ahead-Trying Statements
This press launch incorporates forward-looking statements throughout the that means of the Personal Securities Litigation Reform Act of 1995, together with statements concerning expectations for completion of the acquisition Mawson’s bitcoin mining facility, the ensuing anticipated advantages to CleansSpark (together with as to anticipated additions to CleanSpark’s hashrate and the timing thereof) and plans to increase the power. We intend such forward-looking statements to be lined by the protected harbor provisions for forward-looking statements contained in Part 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Part 21E of the Securities Trade Act of 1934, as amended (the “Trade Act”). All statements aside from statements of historic information contained on this press launch could also be forward-looking statements. In some circumstances, you may determine forward-looking statements by phrases reminiscent of “might,” “will,” “ought to,” “expects,” “plans,” “anticipates,” “might,” “intends,” “targets,” “tasks,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “proceed” or the detrimental of those phrases or different related expressions. Ahead-looking statements contained on this press launch, however usually are not restricted to statements concerning our future outcomes of operations and monetary place, business and enterprise developments, enterprise technique, enlargement plans, market progress and our goals for future operations.
The forward-looking statements on this press launch are solely predictions. We now have based mostly these forward-looking statements largely on our present expectations and projections about future occasions and monetary developments that we imagine might have an effect on our enterprise, monetary situation and outcomes of operations. Ahead-looking statements contain recognized and unknown dangers, uncertainties and different vital components that will trigger our precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements, together with, however not restricted to: the danger that the closing situations usually are not happy and different dangers that would have an effect on the completion of the acquisition of Mawson’s bitcoin mining facility and the anticipated advantages of the acquisitions, together with the danger that {the electrical} energy accessible to the power doesn’t enhance as anticipated; the success of its digital foreign money mining actions; the unstable and unpredictable cycles within the rising and evolving industries during which we function, rising issue charges for bitcoin mining; bitcoin halving; new or extra governmental regulation; the anticipated supply dates of latest miners; the power to efficiently deploy new miners; the dependency on utility price constructions and authorities incentive applications; dependency on third-party energy suppliers for enlargement efforts; the expectations of future income progress might not be realized; the impression of world pandemics (together with COVID-19) on logistics and transport and the demand for our services; and different dangers described within the Firm’s prior press releases and in its filings with the Securities and Trade Fee (SEC), together with underneath the heading “Threat Elements” within the Firm’s Annual Report on Type 10-Okay and any subsequent filings with the SEC. The forward-looking statements on this press launch are based mostly upon data accessible to us as of the date of this press launch, and whereas we imagine such data types an affordable foundation for such statements, such data could also be restricted or incomplete, and our statements shouldn’t be learn to point that we’ve got carried out an exhaustive inquiry into, or assessment of, all doubtlessly accessible related data. These statements are inherently unsure and traders are cautioned to not unduly depend upon these statements.
You must learn this press launch with the understanding that our precise future outcomes, efficiency and achievements could also be materially totally different from what we count on. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements converse solely as of the date of this press launch. Besides as required by relevant regulation, we don’t plan to publicly replace or revise any forward-looking statements contained on this press launch, whether or not because of any new data, future occasions or in any other case.
Investor Relations Contact
Matt Schultz
ir@cleanspark.com
Media Contacts
Isaac Holyoak
pr@cleanspark.com
BlocksBridge Consulting
Nishant Sharma
cleanspark@blocksbridge.com
