Cleanspark Inc Stock Price, News & Analysis

CleanSpark, Inc. (Nasdaq: CLSK) announced that its Executive Chairman Matthew Schultz and CFO Gary Vecchiarelli will participate in investor conferences this September to discuss the company's financial strengths and recent acquisitions. The conferences include:

• H.C. Wainwright 24th Annual Global Investment Conference on September 13
• BTIG Future of Digital Assets Conference on September 19
• B. Riley Securities 2nd Annual Crypto Conference on September 29

Mawson Infrastructure Group (MIGI) has announced a deal to sell its Sandersville, Georgia Bitcoin Mining Facility and 6,468 ASIC miners to CleanSpark (CLSK) for up to $42.5 million. The sale includes approximately $33 million for the facility and $9.48 million for the miners. Proceeds will be used to reduce debt and expand mining operations in Pennsylvania, where Mawson has 220 megawatts of energy capacity. The transaction is expected to close in early October, pending customary conditions. Mawson aims to operate at 12.0 Exahash across its various sites.

CleanSpark, Inc. (Nasdaq: CLSK) announced an acquisition of Mawson Infrastructure Group Inc.'s bitcoin mining facility in Sandersville, Georgia, for up to $33 million. This facility, with current capacity of 80 MW, is expected to enhance CleanSpark's hashrate by up to 7.0 EH/s by the end of 2023. The deal includes the purchase of 6,468 ASIC miners for approximately $9.5 million. CleanSpark aims to expand its operations in Georgia, capitalizing on favorable conditions in the state.

CleanSpark (NASDAQ: CLSK) has announced a significant expansion in its bitcoin mining capacity through a purchase agreement with Cryptech Solutions. The company is acquiring 10,000 Antminer S19j Pro units for $28 million, adding 1 EH/s to its current hashrate of 3.8 EH/s. This purchase was made at a substantially discounted price compared to earlier this year, enabling CleanSpark to optimize its investments during challenging market conditions. The units are expected to be delivered by late October or early November 2022.

CleanSpark, Inc. (CLSK) reported substantial growth in its bitcoin mining operations for August 2022, achieving a hashrate of 3.4 EH/s, up 19% from July 2022. The company mined 395 bitcoins in August, a 109% increase year-over-year. Year-to-date, it has mined 2,642 bitcoins and holds a total of 526 BTC. CleanSpark's operational growth is supported by the sale of 388 BTC for approximately $8.9 million. The company also welcomed new VP of Mining Technology, Taylor Monnig, to enhance its operations.

CleanSpark (NASDAQ: CLSK), a leading Bitcoin miner, reported a significant increase in its hashrate, now exceeding 3 EH/s, tripling in under a year. This growth is attributed to strategic partnerships and a robust financial roadmap. The company operates three facilities with over 31,000 mining machines, achieving a daily production peak of 13.25 bitcoins. Recent acquisitions include a facility in Washington, expected to add 1.1 EH/s, and discounted mining machines that boosted capacity by 93 PH/s. CleanSpark is now ranked among the top five Bitcoin miners in North America.

CleanSpark, Inc. (Nasdaq: CLSK) has successfully completed the acquisition of a bitcoin mining facility in Washington, Georgia, ahead of schedule. This site will add approximately 2.6 EH/s to CleanSpark’s hashrate. The facility, powered predominantly by carbon-free energy, plans to energize 3,400 on-site machines soon, with an additional 8,283 machines arriving shortly. The move aligns with CleanSpark's commitment to sustainable bitcoin mining and is expected to create around 20 local jobs. An open house for the community is scheduled for September 8.

CleanSpark reported third quarter revenue of $31.0 million, a 243% increase from the previous year. However, the company experienced a net GAAP loss of $(29.3) million, a 76% increase from the same period last year.

Adjusted EBITDA stood at $15.2 million, down 30% sequentially. CleanSpark mined 964 Bitcoin and increased its hashrate by 22%, raising its year-end hashrate guidance to 22.4 EH/s. The company announced it is selling its energy assets to focus solely on bitcoin mining.

CleanSpark, Inc. (Nasdaq: CLSK) has announced the acquisition of a bitcoin mining facility in Washington, Georgia, for $16.2 million. This acquisition is expected to enhance CleanSpark's hashrate by 1.1 EH/s, representing a 38% increase. The company has also purchased 3,400 Antminer S19 machines for $8.9 million, adding over 340 PH/s. The site has potential for expansion to 86 MW and is CleanSpark's third campus in Georgia, utilizing low-carbon energy sources, mainly nuclear.