Cleanspark Inc Stock Price, News & Analysis

CleanSpark, Inc. (NASDAQ:CLSK) will present at the LD 500 investor conference on September 3, 2020, at 3:40 p.m. ET. The presentation, hosted by Chairman Matthew Schultz, will be available via live webcast, with an archive accessible for 90 days. This virtual conference, occurring from September 1-4, aims to provide an engaging experience amid COVID-19 restrictions. CleanSpark specializes in software for microgrid management and energy optimization, offering solutions across various sectors. For more details on the event, register at LD Micro.

On August 31, 2020, CleanSpark (CLSK) announced the completion of its strategic acquisition of GridFabric, a software solutions provider for energy management. This acquisition aims to enhance CleanSpark's Demand Response offerings through its mPulse platform. GridFabric's products, including Canvas and Plaid, are integral to energy load management. The deal is expected to generate nearly $1 million in revenue in the next year, alongside existing cash flows. Key personnel from GridFabric will join CleanSpark to leverage their technology, promoting industry competitiveness and cross-selling opportunities.

CleanSpark (Nasdaq: CLSK) has entered an exclusive agreement with International Land Alliance (OTCQB: ILAL) to provide sustainable power solutions to over 400 residential properties in Baja, Mexico. This includes deploying microgrid solutions to 252 off-grid cabins and 152 luxury villas within the Valle Divino and Plaza Bajamar developments. The projects aim to enhance energy infrastructure and affordability for residents, with commissioning expected by September 30, 2020. This partnership is anticipated to generate significant revenue for CleanSpark, enhancing its market position.

CleanSpark, Inc. (Nasdaq: CLSK) has entered into an exclusive partnership with Sunshine Energy Corp. to market and sell its products and services in Costa Rica. Sunshine will receive exclusive rights to use CleanSpark's mVSO energy modeling software and procure energy systems directly from CleanSpark. The agreement aims to enhance microgrid solutions in a country known for its renewable energy, with Sunshine's CEO praising CleanSpark's superior technology. CleanSpark's CEO sees this partnership as a significant step towards international expansion and supporting Sunshine's existing $20 million microgrid sales pipeline.

CleanSpark (CLSK) has reported a record-breaking eighth consecutive quarter, showcasing a remarkable 283% increase in revenue, reaching $8.07 million for the nine-month period ending June 30, 2020. The company highlights its custom electric switchgear sales exceeding $6.4 million and strong performance in its mPulse software, resulting in a total backlog of $10 million. Continued growth from the acquisition of p2klabs is also noted, contributing $600,000 in revenue. Despite a net loss of $(2.32) per share, the management remains optimistic about future growth and profitability.

CleanSpark, Inc. (Nasdaq: CLSK) announced it secured a contract for a microgrid project in Southern California, expected to generate over $300,000 in initial revenue along with a long-term software subscription. The project aims to enhance economic optimization, resiliency, and cost savings through CleanSpark's patented mPulse controls platform, managing a Battery Energy Storage System paired with solar panels. CEO Zach Bradford emphasized the project’s quick execution timeline and CleanSpark's competitive advantage in energy management.

CleanSpark, Inc. (Nasdaq: CLSK) announces the launch of its partnership program aimed at enhancing collaboration with battery manufacturers, energy developers, and solar installers. This initiative will provide access to mVSO energy project modeling software, proposal support, and co-marketing opportunities. The program includes a new online portal for partners, offering preferred pricing and marketing resources. CEO Zach Bradford highlighted this milestone for expanding market reach, with the first partner being Bay Area Energy Solutions, which specializes in microgrid services.

On July 1, 2020, CleanSpark (Nasdaq: CLSK) announced enhancements to its mVSO (microgrid Value Stream Optimizer) software, aimed at aiding solar developers and battery suppliers in optimizing distributed energy assets. The updated features improve modeling for California's Self-Generation Incentive Program, which provides rebates for energy storage systems to enhance power resiliency. This initiative targets customers in high fire-risk areas, offering significant cost reductions for eligible projects. CEO Zach Bradford expressed optimism that these improvements will boost demand for mVSO software.

CleanSpark, Inc. (NASDAQ: CLSK) has successfully commissioned its mPulse software for an off-grid energy system in California City, CA, integrating solar PV, battery storage, and generators. This project, executed in collaboration with Good Energy Solar, highlights CleanSpark's expertise in energy resiliency and cost-saving solutions. CEO Zach Bradford noted expected revenue increases due to mPulse deployments, projecting year-to-date revenues to exceed $8 million. The company aims to expand its operations and maintain growth in demand across all business lines.