Welcome to our dedicated page for Cleanspark news (Ticker: CLSK), a resource for investors and traders seeking the latest updates and insights on Cleanspark stock.
CleanSpark develops and operates digital infrastructure for bitcoin mining, AI, and high-performance computing across a U.S. portfolio of power, land, and data centers. Company updates frequently cover monthly bitcoin production, hashrate and utilization, power capacity under contract, data center campus expansion, and the use of mining cash flow to fund infrastructure development.
CleanSpark news also includes quarterly financial results, balance sheet actions, digital asset management, share repurchases, capital allocation, and AI compute infrastructure initiatives. Coverage may also include securities-market products linked to CLSK, such as single-stock leveraged ETFs launched by third-party fund sponsors.
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.
On October 6, 2020, CleanSpark (Nasdaq: CLSK) announced its entry into the Electric Vehicle (EV) charging market via its subsidiary, GridFabric, LLC. This move comes following California's initiative to phase out gasoline cars by 2035. GridFabric specializes in OpenADR compliance, crucial for integrating EV charging with the grid. The initiative aims to manage the expected increase in power demand from EVs and enhance grid stability. Since its acquisition, GridFabric has provided OpenADR software to two EV charging companies and has pending proposals with others.
CleanSpark, Inc. (Nasdaq: CLSK) announced its support for FERC Order 2222, a ruling that allows aggregated Distributed Energy Resources (DERs) to compete with traditional utilities. CEO Zach Bradford highlighted that this is a transformative step for the microgrid industry, aiming to eliminate longstanding barriers. The ruling is expected to enable DERs, like solar and battery providers, to participate in energy markets, thus fostering competition, enhancing grid resilience, and lowering costs for consumers. Additionally, the acquisition of GridFabric is anticipated to offer CleanSpark a competitive edge in these markets.
CleanSpark (Nasdaq: CLSK) secured a 5-year contract to upgrade and support switchgear controls for a US Embassy in Africa. This agreement includes technical support and maintenance from CleanSpark's trained technicians. CEO Zach Bradford highlighted the contract's significance for their intelligent switchgear business and acknowledged strong sales in hardware solutions. The Company specializes in energy management systems for diverse sectors, enhancing operational resilience and economic optimization.
CleanSpark (Nasdaq: CLSK) announced a new contract for five units of intelligent switchgear from a Houston-based energy development partner. This collaboration marks over 100 microgrid projects completed. The latest contract includes installations at a surface water pumping station and a Texas grocery chain, contributing to expected revenue recognition in the upcoming quarter. This year, CleanSpark has shipped more than $7.4 million in switchgear. The CEO noted that this project marks entry into a new market segment, highlighting the company's expanding applications for its technology.
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.