Software optimizations continue to drive
strong efficiency gains; fleet wide efficiency now estimated at
27.8 joules per terahash (J/TH)
LAS
VEGAS, Oct. 27, 2023 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today
announced it has surpassed a total hashrate of 10 exahashes per
second (EH/s), reaching a milestone that few publicly traded
bitcoin mining companies have ever achieved.
Software optimizations continue to drive
gains; fleet wide efficiency now estimated at 27.8 joules per
terahash (J/TH)
CleanSpark is one of the most efficient and fastest-growing
publicly traded bitcoin miners in North America. The Company increased its
hashrate by nearly 50 percent in the last five months alone and is
more than halfway to its planned capacity of 16 EH/s.
CleanSpark's recent incremental growth comes from a combination
of software optimizations and fleet improvements. Operational teams
are swapping out older ASICS for the newer, more efficient Antminer
XPs. CleanSpark's fleet wide efficiency is estimated at 27.8 joules
per terahash (J/TH).
CleanSpark recently purchased 4.4 EH/s of Antminer S21
bitcoin mining machines, which are scheduled to be
delivered in early 2024. Once plugged in, the Company expects to
reach a total hashrate of more than 20 EH/s. The efficiency rating
of the S21 is 17.5 J/TH, nearly 20% more efficient than the XP.
"Our talented teams are driving incredible optimizations at our
existing data centers while also executing a massive expansion at
our Sandersville location," said Zach
Bradford, CEO. "Both efforts—efficiency optimizations on the
one hand, and expansions on the other—are helping us to achieve the
scale and position that we expect will make us among the best
prepared for the upcoming halving."
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 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 increases in our capacity,
reductions in power consumption and energy costs per
bitcoin mined and margin improvements expected to
result from our purchase of the Antminer S21 bitcoin
miners, statements regarding sources of funds for the purchases and
other statements regarding 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
performance of the Antminer S21 bitcoin miners; the
timing for the arrival and installation of those miners; the risk
that the electrical power available to our existing or new
facilities does not increase or become available as expected;
fluctuations in the costs of that electrical power; the success of
its digital currency ( bitcoin ) 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, uncertainties and other factors
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 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
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni
Stylianou
702-989-7692
pr@cleanspark.com
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SOURCE CleanSpark, Inc.