Bitcoin holdings doubled to 1,061
BTC, hashrate hit all time high of 9 exahashes per second (EH/s),
and production increased 17% month over month
LAS
VEGAS, Aug. 2, 2023 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today
released its unaudited bitcoin mining and operations
update for the month ending July 31,
2023.
"In less than one month we brought 2.3 EH/s of capacity online
and doubled our bitcoin holdings," said CleanSpark CEO
Zach Bradford. "We increased our
bitcoin holdings due to what we see as substantial
momentum building across the bitcoin ecosystem. This
move further underscores our commitment to bitcoin and
our critical role in building bitcoin
infrastructure.
"We entered the bitcoin mining industry just over
two-and-a-half years ago and during that time we've increased our
hashrate to 9 EH/s. This monumental effort demonstrates the
experience and grit of our teams. They are our secret sauce—the
reason our operations have scaled so successfully. We are now on a
journey to nearly double our size to 16 EH/s in the next half of
the year. During this time of rapid growth we will also be turning
our attention to filling any gaps and optimizing our fleet to
further boost our hashrate and efficiency. I look forward to
providing further insights on our past and future efforts on our
earnings call next week."
July Bitcoin Mining Update (unaudited)
- Bitcoin mined in July: 575
- CY2023 bitcoin mined: 4,070
- Total BTC holdings as of July
31: 1,061
- Total BTC sold in July: 43
- Deployed fleet: 87,936
- Month-end fleet efficiency: 29 J/TH
- Current hashrate: 9.0 EH/s*
*Operating hashrate for the month averaged approximately 7.6
EH/s due to several weeks of rapid growth. Full value of month-end
hashrate expected to be realized in August's monthly update.
The Company sold 43 bitcoins in July
2023 at an average of approximately $29,300 per BTC. Sales of BTC equated to
proceeds of approximately $1.3
million. July daily BTC mined averaged 18.6 and reached a
high of 21.1.
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 responsible 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 of realizing the
benefits of 9.0 EH/s of operating hashrate, achievement and timing
of reaching our target guidance of 16 EH/s, the expansion and
timing of such expansion of the bitcoin mining
facilities in Sandersville,
Georgia, 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 include, 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 expansions; 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 Schultz
ir@cleanspark.com
Media Contacts
Isaac
Holyoak
pr@cleanspark.com
BlocksBridge Consulting
Nishant Sharma
cleanspark@blocksbridge.com
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SOURCE CleanSpark, Inc.