Cleanspark Inc Stock Price, News & Analysis

CleanSpark, Inc. (Nasdaq: CLSK) will be a Platinum Sponsor at the Microgrid Knowledge 2020 Global Conference from November 17-19. This event will gather key industry leaders focused on microgrids and distributed energy solutions. CleanSpark's CTO, Amanda Kabak, will participate in a roundtable discussing advancements in microgrid controls. CEO Zachary Bradford highlighted the conference as an opportunity to strengthen partnerships and connect with potential clients in the energy sector. The event aims to enhance knowledge sharing and networking among energy innovators.

CleanSpark, a software and services company for microgrid solutions, will participate in the Water Tower Research Virtual Conference on November 3, 2020, at 3:00 pm ET. CEO Bradford will discuss technology innovations for microgrid control optimization and the company's recent growth through funding and acquisitions. The global microgrid market is expected to grow at a 28% CAGR, nearing $40 billion by 2029. The event registration is limited, and interested participants can register for the live or replay event.

CleanSpark (Nasdaq: CLSK) announced two contracts with Electric Vehicle companies for its 'Plaid' software product, facilitating cloud-based subscriptions through its subsidiary GridFabric. This transition from a one-time sale to a SaaS model aims to create long-term, recurring revenue. CEO Zach Bradford emphasized that this new model reduces entry costs for clients, potentially boosting market growth. The contracts are expected to enhance the platform's maintenance and security while attracting a broader customer base, supporting further product development.

CleanSpark, Inc. (Nasdaq: CLSK) reported preliminary unaudited revenue exceeding $10 million for the fiscal year ended September 30, 2020, marking a 222% increase from 2019. This achievement represents the company's fourth consecutive year of record growth. The company has set a target of $20 million in gross revenue for fiscal 2021 and holds a contracted backlog of over $6 million and a proposal pipeline exceeding $12 million. Institutional capital of $40 million secured earlier supports ongoing growth initiatives.

CleanSpark, Inc. (Nasdaq: CLSK) announced a $370,000 order for its intelligent automatic transfer switchgear, which ensures uninterrupted power supply during outages. This order is from a Houston-based energy developer specializing in microgrids powered by natural gas turbines and will be deployed at various locations for a major retail chain in Texas. CEO Zachary Bradford indicated that increasing power outages drive demand for CleanSpark's solutions, highlighting a strong revenue outlook as they enter the new fiscal year.

CleanSpark, Inc. (Nasdaq: CLSK) announced a contract extension valued at over $1 million for its subsidiary p2klabs with LAWCLERK.LEGAL. This 16-month extension will enhance LAWCLERK's digital platform and bolster its position in the legal marketplace. p2klabs will provide services including business strategy and technical support. The partnership reflects p2klabs' value as a trusted partner and its ability to attract new business, even amid economic challenges.

CleanSpark, Inc. (Nasdaq: CLSK) has successfully closed its public offering of 4,444,445 shares of common stock at a price of $9.00 per share, generating approximately $40.0 million in gross proceeds. H.C. Wainwright & Co. was the sole book-running manager for the offering. The company plans to utilize the net proceeds for working capital, enhancing its sales and marketing efforts, product development, and potential strategic mergers or acquisitions. As of the offering date, CleanSpark had no current commitments to any mergers or acquisitions.

CleanSpark, Inc. (Nasdaq: CLSK) announced the pricing of its underwritten public offering of 4,444,445 shares at $9.00 per share, aiming for gross proceeds of approximately $40.0 million. The offering is set to close around October 9, 2020, subject to customary conditions. Proceeds will be directed towards working capital, expanding the sales and marketing team, software enhancements, and general corporate purposes, including strategic mergers and acquisitions, although no specific commitments currently exist.

CleanSpark, Inc. (Nasdaq: CLSK) announced plans for an underwritten public offering of its common stock, subject to market conditions. H.C. Wainwright & Co. will serve as the sole book-running manager. Proceeds from the offering, if completed, will be allocated for working capital, sales and marketing growth, product development, and general corporate purposes, with no current commitments for mergers or acquisitions. A shelf registration statement has been filed, with the offering being made through a prospectus supplement. No assurances are given regarding the timing or size of the offering.