CleanSpark expands its Bitcoin mining fleet with the purchase of 3,853 latest generation machines
The total number of machines purchased since the start of bear market conditions in June now exceeds 26,500
LAS VEGAS, Nov. 01, 2022 (GLOBE NEWSWIRE) — CleanSpark Inc. (Nasdaq: CLSK) (the “Company”), America’s Bitcoin Miner™, today announced that it has acquired 3,843 units of Antminer S19J Pro bitcoin mining machines for $5.9 million, or approximately $15 $.50 per terahash, bringing the total number of machines purchased by the Company since the onset of bear market conditions to over 26,500.
“This most recent purchase shows how CleanSpark continues to operate in struggling markets,” said Zach Bradford, CEO of CleanSpark. “Our unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has enabled us to acquire machines at incredible prices, grow our hashrate, and grow our daily bitcoin production in anticipation of improving market conditions over the next few months. ”
In October, CleanSpark finalized the acquisition of an 80 MW facility in Sandersville, Georgia, which included nearly 6,500 mining machines. In September, the Company purchased 10,000 new Bitmain Antminer S19j Pro units. And in August, the Company acquired a 36 MW facility in Washington, Georgiawhich included 3,400 machines.
These acquisitions followed several major purchases in the summer. During the month of July, CleanSpark acquired 1,061 Whatsminer machines at a deep discount, which increased mining capacity by 93 PH/s. The Company launched the summer in June with a contract takeover for 1,800 Antminer S19 XP units and a partnership with TMGCore Inc. for an immersion cooling expansion.
CleanSpark primarily uses renewable or low-carbon energy sources. It has four owned and operated facilities, approximately 50,000 operational bitcoin mining machines, and a high daily production of 19.2 bitcoins. CleanSpark achieved its year-end goal of 5 PE/s ahead of schedule earlier this month and has since raised its year-end forecast to 5.5 PE/s. The company plans to hit its 2023 year-end targets of 22.4 EH/s, an achievement that would make it one of the largest publicly traded bitcoin mining companies in the world.
CleanSpark (NASDAQ: CLSK) is the American Bitcoin Miner™. Since 2014, we have been helping people achieve energy independence for their homes and businesses. In 2020, we began applying this expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. We strive to make 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 in which we operate, and the people around the world who depend on Bitcoin. CleanSpark is one of Forbes’ 2022 Best Small Businesses in America and ranks 44th on the Financial Times list of Americas 500 Fastest Growing Companies. For more information about CleanSpark, please visit our website at cleanspark.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations regarding the completion of the acquisition of Mawson’s bitcoin mining facility, the benefits expected results for CleansSpark (including planned additions to CleanSpark’s hashrate and timing thereof) and plans to expand the facility. We intend that such forward-looking statements 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 instances, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, ” intends”, “aims”, “plans”, “intends”, “believes”, “estimates”, “anticipates”, “predicts”, “potential” or “continues” or the negative form of these terms or other similar expressions. The forward-looking statements contained in this press release, but are not limited to statements regarding our future operating results and financial condition, industry and business trends, business strategy, expansion plans, market growth and our goals for future operations.
The forward-looking statements contained in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections regarding 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 risk that closing conditions will not be satisfied and other risks that could affect the completion of the acquisition of Mawson’s bitcoin mining facility and the benefits planned acquisitions, including the risk that the power supply available to the facility may not be increased as planned; the success of its digital currency mining activities; 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 government regulations; expected delivery dates of new miners; the ability to successfully deploy new miners; dependence on utility rate structures and government incentive programs; reliance on third-party power providers for expansion efforts; expectations of future revenue growth may not be realized; the impact of global pandemics (including COVID-19) on logistics and shipping and demand for our products and services; and other risks described in the Company’s prior press releases and 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 in all subsequent filings with the SEC. The forward-looking statements contained in this press release are based on information available to us as of the date of this press release, and while we believe this information to provide a reasonable basis for such statements, such information may be limited or incomplete. , and our statements should not be construed to indicate that we have conducted an exhaustive investigation or review of all relevant information potentially available. Such statements are inherently uncertain and investors are cautioned not to place undue reliance on such statements.
You should read this press release knowing that our actual future results, performance and achievements may differ materially from what we expect. We qualify all of our forward-looking statements with 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 new information, future events or otherwise.
Matt Schultz, Executive Chairman
CONTACT: Isaac Holyoak CleanSpark Inc. 702-989-7694 [email protected]