Company mined 417 bitcoin; total
bitcoin holdings now at 6,154
LAS
VEGAS, June 4, 2024 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today
released its unaudited bitcoin mining and operations
update for the month ending May 31,
2024.
"We have outperformed industry expectations as well as our peers
in our first full month of production after the block reward
halving," said Zach Bradford, CEO.
"Remarkably, our post-halving production has also outpaced what
some of our peers achieved prior to the halving. We have continued
with our progress and are making meaningful gains and upgrades. For
example, we achieved a new high mark of nearly 18 exahashes per
second while driving our efficiency even further to 23.05 joules
per terahash. As we continue to grow our hashrate, we are on a
trajectory to rapidly recover our production to pre-halving
levels.
"Meanwhile, as we maximize the performance of our existing
fleet, we remain highly active in the M&A space. We expect to
close on the first site in Wyoming
in the coming days and continue to aggressively seek additional
opportunities that align with the CleanSpark way. We will continue
to provide transparency and updates as we have them. In fact, we
recently had our first-ever retail investor day, held at our
immersion-cooled facility in Norcross,
Georgia. I'd like to thank our investors who were able to
take time out of their busy schedules to attend and meet with
us."
May Bitcoin Mining Update (unaudited)
- Bitcoin mined in May: 417
- CY2024 bitcoin mined: 3,169
- Total bitcoin holdings as of May 31: 6,154
- Total bitcoin sold in May: 2.43
- Deployed fleet: 134,464
- Month-end fleet efficiency: 23.05 J/Th
- Current hashrate: 17.97 EH/s
The Company sold 2.43 bitcoin in May 2024 at an average price of approximately
$59,000 per bitcoin. May
daily bitcoin mined averaged 13.45 and reached a high
of 15.0.
Operational Update
Dalton expansion. Grading is
complete and building permits have been issued. Conduit
installation for the primary cables is complete and concrete forms
are being installed. Once complete, the expansion will run a fleet
of S21s in a 15MW facility for a hashrate of approximately 0.8
exahashes per second (EH/s). After the expansion is complete,
CleanSpark's Dalton campus, which consists of four independent data
centers, is expected to operate at 2.4 EH/s.
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. In this press release,
forward-looking statements include, but may not be limited to,
statements regarding the Company's expectations, beliefs, plans,
intentions, and strategies. 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. The forward-looking
statements are subject to a variety of 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 and timing of the Dalton expansion; our
merger and acquisition activity and closings; anticipated additions
to CleanSpark's hashrate and the timing thereof; 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 for the fiscal year ended
September 30, 2023, and any
subsequent filings with the SEC. Forward-looking statements
contained herein are made only as to the date of this press
release, and we assume no obligation to update or revise any
forward-looking statements as a result of any new information,
changed circumstances or future events or otherwise, except as
required by applicable law.
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.