Bitcoin holdings continue to
grow, now at 1,677 BTC
Monthly production among industry leaders at
659 bitcoin mined for August
Achieves operating hashrate of 9.3
EH/s
LAS
VEGAS, Sept. 5, 2023 /PRNewswire/
-- CleanSpark, Inc. (Nasdaq: CLSK), America's
Bitcoin Miner™, today released its unaudited
bitcoin mining and operations update for the month
ending August 31, 2023.
"August was another banner month for
CleanSpark," said CEO Zach
Bradford.
"August was another banner month for CleanSpark as the 50MW
expansion in Washington saw its
first full month at maximum operational hashrate, delivering some
of our highest daily production ever," said CleanSpark CEO
Zach Bradford. "What's more, we have
carefully managed power to achieve substantially high levels of
uptime in August, despite historically high levels of rain and very
hot weather. That operational prowess has resulted in what we
expect is among the best monthly bitcoin production
rates of publicly traded miners in North
America."
August Bitcoin Mining Update (unaudited)
- Bitcoin mined in August: 659
- CY2023 bitcoin mined: 4,729
- Total BTC holdings as of August
31: 1,677
- Total BTC sold in August: 43
- Deployed fleet: 88,217
- Month-end fleet efficiency: 28.7
- Current hashrate: 9.3 EH/s
The Company sold 43 bitcoins in August
2023 at an average of approximately $28,200 per BTC. Sales of BTC equated to
proceeds of approximately $1.2
million. August daily BTC mined averaged 21.26 and reached a
high of 22.11.
Operational updates
Sandersville.
Construction is underway at the Company's newest expansion in
Sandersville, GA. Concrete has
been poured for Building 1, and construction on subsequent
buildings begins this week. Materials are arriving on site daily
and all ten data centers are expected to be completed later this
year. Once finished, the site will be home to 230MW of the most
efficient bitcoin mining machines available, making it
one of the largest bitcoin mining data centers in the
southeastern United States. The
expansion itself is 150MW and is expected to house 45,000
miners.
Concurrently, the Municipal Energy Authority of Georgia (MEAG) has been constructing a 200MW
substation and related infrastructure that will power the
Sandersville expansion. The
utility has informed the Company that it expects to complete the
substation in 2023, but the related power-line project that
connects to the substation is expected to push into early 2024,
after which time miners will be promptly energized to achieve
CleanSpark's target of 16 EH/s of operational hashrate.
Additional commentary about the Sandersville expansion, including recent
photos, are available here and here.
Fall Investor Conference Schedule
3rd Annual Needham Virtual Crypto
Conference, September 7,
2023
- CleanSpark Executive Chairman Matthew
Schultz
- The conference is open to clients of Needham & Company
by invitation only.
- For more information, please call (212) 371-8300 or visit
www.needhamco.com.
H.C. Wainwright 25th Annual Global Investment
Conference (New York),
September 11 - 13, 2023
- Company Presentation: Executive Chairman Matthew Schultz and CFO Gary A.
Vecchiarelli
- Panel: CEO and President Zach Bradford
- Interested investors can access CleanSpark's presentation
beginning September 15, 2023, by
visiting the events page on CleanSpark's website
at www.cleanspark.com.
AIM Summit (Dubai), October 30 - 31, 2023
- Fireside Chat: CEO and President Zach Bradford
- For more information, visit www.aimsummit.com.
26th Annual Needham Growth Conference
(New York), January 16 - 19, 2024
- Company Presentation: Executive Chairman Matthew Schultz and Chief Financial Officer Gary
A. Vecchiarelli
- Needham & Company's flagship conference is one of the
country's largest growth stock investing events, with over 375
companies participating in 2023.
- The 25th Annual Needham Growth Conference is open to
clients of Needham & Company by invitation only.
- For more information, please call (212) 371-8300 or
visit www.needhamco.com.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is America's Bitcoin
Miner™. We own and operate data centers that primarily run on
low-carbon power. Our infrastructure responsibly supports
Bitcoin, the world's most important digital commodity
and an essential tool for financial independence and inclusion. We
cultivate trust and transparency among our employees and the
communities we operate in. 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 9.3 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.