Cleanspark Inc Stock Price, News & Analysis

Mawson Infrastructure Group (NASDAQ:MIGI) announced the completion of its sale of the Sandersville, Georgia facility and up to 6,468 ASICs to CleanSpark (NASDAQ:CLSK) for approximately $40 million. This strategic move allows Mawson to focus on expansion in Pennsylvania, where it has secured low-cost energy for its Midland facility. The company anticipates a preliminary profit of around $18 million from the sale, impacting Q4 2022 earnings positively. Mawson expects its Self-Mining and Hosting Co-location capacity to reach 4.5 Exahash by Q1 2023 and 8.0 Exahash by Q4 2023.

CleanSpark Reports Strong Growth in Bitcoin Mining for September 2022

CleanSpark (Nasdaq: CLSK) announced a hashrate increase of 21% to 4.16 EH/s since August 2022. The company mined 448 bitcoins in September, marking a 132% year-over-year increase, pushing total mined this year to 3,090 bitcoins. Their HODL (Hold On for Dear Life) balance grew 13% to 594 bitcoins. The company sold 380 bitcoins at an average price of $19,783, generating approximately $7.5 million to fund operations and growth.

CleanSpark (Nasdaq: CLSK) has seen its bitcoin mining hashrate surge over 30% in less than a month, now exceeding 4 EH/s. The company aims to achieve a year-end guidance of 5 EH/s for 2022 and 22.4 EH/s for 2023, positioning itself among the largest publicly traded bitcoin miners. With a fourth facility set to be operational by early October, CleanSpark expects an additional 1.4 EH/s from this acquisition. It emphasizes low-carbon energy as a key component of its growth strategy.

Mawson Infrastructure Group (NASDAQ:MIGI) reported a total installed operational capacity of 3.7 Exahash at the end of August 2022. The company generated approximately $1.8 million from its Energy Market Program in August, matching July's revenue. Mawson produced a total of 170 Bitcoin in August, with 90 from self-mining and 80 via the Energy Market Program. The company is relocating miners from Georgia to Pennsylvania, focusing on high-margin operations. A sale of Georgia assets to CleanSpark (NASDAQ:CLSK) is expected to close in early October for up to $42.5 million.

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.