CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today
released its unaudited bitcoin mining and operations update for the
month ending May 31, 2023.
“We achieved a significant milestone during the month of May,”
said Zach Bradford, CEO. “Not only do we continue to increase the
amount of bitcoin in our treasury, but we also surpassed $100
million in revenue for our fiscal year to date. Importantly, we
achieved this milestone with the bulk of our expansion expected to
come later this year.
“Additionally, the amount of bitcoin we mined this month
exceeded expectations, largely due to increases in operational
efficiency and a brief, albeit significant, increase in transaction
fees. For about five days in May, fees were elevated because of
increased interest in ordinals on the blockchain. At its peak, our
bitcoin production jumped to nearly 30 bitcoins in a single day,
almost double our normal daily production of about 18 bitcoins.
Since then, transaction fees have normalized.”
May Bitcoin Mining Update (unaudited)
- Bitcoin mined in May: 609
- CY2023 bitcoin mined: 3,004
- Total BTC holdings as of May 31: 451
- Total BTC converted for operations and growth in May: 471
- Currently deployed fleet of about 67,196 latest-generation
bitcoin miners with a hashrate of 6.7 EH/s
The Company funded growth and operations through the sale of 471
bitcoins in May 2023 at an average of approximately
$27,400 per BTC. Sales of BTC equated to proceeds of
approximately $12.9 million. May daily BTC mined averaged 19.6 and
reached a high of 29.6, due to a brief period of unusually high
transaction fees.
Operational Updates
Washington. The 50MW expansion continues to track according to
projected timelines, despite a series of rain delays that
temporarily slowed down progress. Miners are arriving daily with
all units expected to be at the facility by the end of the month.
Racking has begun and energization is expected to begin in the
second half of June.
Sandersville. Crews are making headway in prepping the land for
the Company’s expansion at its Sandersville site. The planned
expansion will add over 6 EH/s to CleanSpark’s mining operations.
Additional updates about the expansion are posted from time-to-time
on the Company’s Twitter feed, @CleanSpark_Inc.
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 transitioned 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 holds the 44th spot on the
Financial Times' 2022 List of the 500 Fastest Growing Companies in
the Americas and ranks thirteenth on Deloitte’s Fast 500. 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, including statements regarding expectations for expansion of
the Company’s Georgia bitcoin mining facilities, increasing our
efficiency, and the resulting anticipated benefits to CleanSpark
(including as to anticipated additions to CleanSpark’s hashrate and
the timing thereof). 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
anticipated timing of the expansion; the risk that the electrical
power available to our facilities does not increase as expected;
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; 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 Contact Matt
Schultzir@cleanspark.com
Media Contacts Isaac
Holyoak pr@cleanspark.com
BlocksBridge ConsultingNishant
Sharmacleanspark@blocksbridge.com
Isaac Holyoak
CleanSpark Inc.
702-989-7694
pr@cleanspark.com
CleanSpark (NASDAQ:CLSK)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
CleanSpark (NASDAQ:CLSK)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024