Cleanspark Inc Stock Price, News & Analysis

CleanSpark, Inc. (Nasdaq: CLSK) announced participation in the Water Tower Research Virtual Conference on June 7, 2021, at 1:00 pm ET, featuring CEO Zach Bradford and Executive Chairman Matt Schultz. Key topics include recent partnership agreements and developments in energy and Bitcoin operations. The event will also discuss CleanSpark’s role in 'Think Microgrid'. Investors can register for the live event or access a replay. CleanSpark focuses on advanced software solutions and operates Bitcoin mining facilities in Georgia.

CleanSpark, Inc. (Nasdaq: CLSK) announced an expanded contract manufacturing agreement with Pioneer Power Solutions, Inc. (Nasdaq: PPSI) to enhance their collaboration through 2023. This agreement allows Pioneer to utilize CleanSpark's proprietary software, mPulse and GridFabric's OpenADR solutions, which will be integrated into Pioneer’s PowerBloc charging solution for electric vehicles (EVs). CleanSpark will also serve as a preferred distributor for PowerBloc. Additionally, CleanSpark has joined Think Microgrid, aimed at promoting legislative support for microgrid technology.

Pioneer Power Solutions has expanded its agreement with CleanSpark to utilize proprietary software for the new PowerBloc, designed for EV charging infrastructure. This innovation aligns with market demands for customizable power solutions. Additionally, the Board declared a special cash dividend of $0.12 per share, amounting to over $1 million in distributions. The developments signal a strategic shift towards the growing EV market.

CleanSpark (Nasdaq: CLSK) has signed a memorandum of understanding (MOU) with FlowGen Ltd. to incorporate CleanSpark's mPulse controls in FlowGen's global microgrid projects. The partnership grants CleanSpark exclusive rights to distribute FlowGen's advanced wind turbine solutions in North and South America. This collaboration aims to combine CleanSpark's software technologies with FlowGen's wind-centric solutions to deliver efficient microgrid systems. The partnership is expected to enhance both companies' competitiveness in the renewable energy market.

CleanSpark (Nasdaq: CLSK) announced the completion of a $4.71 million purchase of a six-acre property housing ATL Data Centers. This acquisition, finalized on May 20, 2021, allows CleanSpark to save over $50,000 monthly in rent, reducing operating expenses by more than 20%. The company plans to use the extra land for renewable energy sources, supporting its goal of carbon neutrality by 2022. CleanSpark's CEO emphasized that owning the property enhances its net-asset value and provides opportunities for expansion.

CleanSpark (Nasdaq: CLSK) announces a partnership with FAFCO to expand CoolPV operations in California's Malibu, Santa Barbara, and San Fernando Valley. The initiative aims to provide cost-effective renewable energy solutions for homeowners by installing solar and storage systems. CoolPV panels enhance energy generation by 20% and capture four times more solar energy compared to traditional systems, significantly reducing utility bills. This partnership aligns with the U.S. goal to halve carbon emissions by 2030, addressing rising demand for affordable residential energy solutions.

CleanSpark, a diversified energy services and Bitcoin mining company, announced CEO Zach Bradford's participation in the Water Tower Research Virtual Conference on May 18, 2020, at 3:00 pm ET. The discussion will focus on the company's Bitcoin mining operations and its commitment to achieving near-zero emissions. Moderated by Shawn Severson, the event is open to all, but registration is required. CleanSpark aims to address modern energy challenges with innovative software and technology solutions and operates a Bitcoin mining facility near Atlanta, Georgia.

CleanSpark, Inc. (Nasdaq: CLSK) announced the acquisition of 2,400 S19-Pro Bitcoin mining rigs, aiming to enhance the efficiency of its mining operations. Set for delivery in June 2021, this move supports the Company's strategy to maximize energy efficiency aligned with its ESG objectives. The new rigs will replace older models, reducing energy consumption by approximately 1 MW while improving production efficiency by 37.5%. CEO Zach Bradford highlighted the anticipated increase in hash rate capacity to over 400 PH/s, potentially boosting daily bitcoin production by half a coin.

CleanSpark, Inc. (Nasdaq: CLSK) reported its Q2 2021 results with a net income of $7.4 million, translating to $0.28 per share, marking a significant turnaround from a loss of $(5.8) million in Q2 2020. Quarterly revenues surged 122% to $8.1 million. For the six months ended March 31, 2021, revenue rose 124% to $10.4 million. The company produced over 144 Bitcoins in Q2. Key assets included $157.2 million in cash and total assets of $292.6 million. CleanSpark also closed a $200 million public offering to fuel expansion in Bitcoin mining and energy initiatives.