CleanSpark Hashrate Exceeds 26 EH/s

Rhea-AI Summary

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner®, has announced significant expansions and acquisitions that have boosted its hashrate to over 26 EH/s. The company has recently energized the final 50 MW phase of its 150 MW expansion in Sandersville, GA, and completed expansions in Dalton, along with acquiring seven facilities in Tennessee. These developments have increased the company's capacity by 65 MW and 3.2 EH/s. CEO Zach Bradford expects CleanSpark's hashrate to reach 37 EH/s before the end of 2024, highlighting the rapid growth and successful partnerships with local communities.

Positive

• Hashrate increased to over 26 EH/s, with expected growth to 37 EH/s by end of 2024
• Completed 150 MW expansion in Sandersville, GA
• Acquired seven new facilities in Tennessee
• Total capacity increase of 65 MW and 3.2 EH/s

Negative

• None.

Recent expansions totaling 65 MW of capacity increase Company hashrate by 3.2 EH/s

LAS VEGAS, Sept. 12, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company") today announced it has energized the 50 MW final phase of its 150 MW expansion in Sandersville, GA.

"This past week has been monumental for CleanSpark, marked by the full energization of our expansions in Sandersville and Dalton, along with the acquisition of seven facilities in Tennessee. These efforts have allowed us to rapidly expand our hashrate, which we now expect to reach 37 EH/s before the end of 2024," said Zach Bradford, CEO. "I'm incredibly grateful to the local community. Our partnership with Sandersville is a prime example of how Bitcoin miners and communities can thrive together."

About CleanSpark 
CleanSpark (Nasdaq: CLSK) is America's Bitcoin Miner®. We own and operate multiple 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: closing on the acquisition of the seven facilities in Tennessee; anticipated additions and targets 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.

FAQ

What is CleanSpark's current hashrate after recent expansions?

CleanSpark's hashrate has exceeded 26 EH/s following recent expansions and acquisitions.

How much additional capacity did CleanSpark (CLSK) add in its recent expansions?

CleanSpark added 65 MW of capacity, increasing its hashrate by 3.2 EH/s through expansions in Sandersville, Dalton, and acquisitions in Tennessee.

What is CleanSpark's (CLSK) projected hashrate by the end of 2024?

CleanSpark expects its hashrate to reach 37 EH/s before the end of 2024, according to CEO Zach Bradford.

Where did CleanSpark (CLSK) complete its 150 MW expansion?

CleanSpark completed its 150 MW expansion in Sandersville, Georgia, with the final 50 MW phase recently energized.