The Company mined 633 bitcoin in
October and increased its bitcoin holdings to
2,311
Hashrate surpassed 10 exahashes per second
(EH/s), with nearly 89,000 miners operational
LAS
VEGAS, Nov. 2, 2023 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today
released its unaudited Bitcoin (or "BTC") mining and
operations update for the month ending October 31, 2023.
CleanSpark mined 633 bitcoin
in October and increased its bitcoin holdings to
2,311.
"Our recent achievement of 10 EH/s, with nearly 89,000
operational machines, demonstrates our ability to maximize
efficiency to produce more hashrate using the same amount of
energy. Energy and capital efficiency are paramount to our
operations," said Zach Bradford,
CEO. "A combination of software optimizations and hardware upgrades
have led to impressive gains in our total hashrate without
requiring additional power at our existing sites. Our fleet-wide
efficiency is now estimated at 27.32 J/Th (joules per terahash)
and, with the ongoing arrival of new XPs and in anticipation of the
Antminer S21s we ordered in October, we expect to continue to build
on these accomplishments across one of the largest and most
efficient mining operations in the industry.
"Our expected efficiency of 23.5 J/Th, once all new machines are
deployed, not only reduces operational costs but it also ensures we
are well prepared for the Bitcoin halving next year.
We're proud of our data-driven achievements and remain committed to
embedding efficiency throughout our operational framework."
October Bitcoin Mining Update
(unaudited)
- Bitcoin mined in October: 633
- CY2023 bitcoin mined: 6,005
- Total BTC holdings as of October
31: 2,311
- Total BTC sold in October: 562
- Deployed fleet: 88,825
- Month-end fleet efficiency: 27.32 J/Th
- Current hashrate: 10.02 EH/s
The Company sold 562 BTC in October
2023 at an average of approximately $28,600 per BTC. Sales of BTC equated to
proceeds of approximately $16
million. October daily BTC mined averaged 20.42 and reached
a high of 22.
Operational update
Sandersville. No serious
delays have been reported and site construction remains on track
for an expected yearend completion. Notable updates include: steel
and roof structures are complete for Buildings 1, 2, and 3; racks
have also been installed for these buildings. Most of the conduit
has been installed site wide and the majority of concrete has been
poured for the remaining buildings.
"I'm pleased to report that construction is on schedule for our
Sandersville expansion," said
Scott Garrison, senior vice
president of growth. "Over the coming weeks, the remaining
structures are expected to rapidly pass through various stages of
construction as multiple trades work together to build what we
believe will be the largest digital asset data center in
Georgia."
For updates on our progress in Sandersville, check out the Company's official
YouTube account here.
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 10 EH/s of operating hashrate, achievement and timing
of reaching 23.5 J/Th and the resulting reduction in costs, the
receipt and deployment of Antminer XPs and Antminer S21s, the
expansion and timing of such expansion of the Bitcoin
mining facilities in Sandersville,
Georgia, and the resulting anticipated benefits to
CleanSpark (including 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
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.