This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for expansions of the Company’s Washington, Georgia bitcoin mining facilities, the resulting anticipated benefits to CleanSpark (including as to anticipated additions to CleanSpark’s hashrate and the timing thereof), and the timing of miner deliveries. For more information about CleanSpark, please visit our website at Forward-Looking Statements CleanSpark is a Forbes 2022 America’s Best Small Company and holds the 44th spot on the Financial Times’ List of the 500 Fastest Growing Companies in the Americas. We cultivate trust and transparency among our employees, the communities we operate in, and the people around the world who depend on Bitcoin. We strive to leave the planet better than we found it by sourcing and investing in low-carbon energy, like wind, solar, nuclear, and hydro. In 2020, we transitioned that expertise to develop sustainable infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Since 2014, we’ve helped people achieve energy independence for their homes and businesses. This strategy, coupled with the Company’s proprietary mining model, allowed CleanSpark to exceed its year-end guidance in 2022, tripling its hashrate during that period and achieving one of the highest hashrate realization rates among its peers during the crypto bear market.ĬleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. Importantly, we’ve already fully funded and paid for the first half of this purchase, or approximately 6,650 machines, most of which are expected to ship next month.”ĬleanSpark mines bitcoin with predominantly low-carbon energy sources, which account for over 90% of its energy mix, and continues to follow a balanced capital management strategy by selling a portion of its mined bitcoins to reinvest in growth. “This order of XPs not only adds to our hashrate, but the efficiency of these machines also results in less power consumed per bitcoin mined compared to older generation miners, which should translate to higher margins. “We continue to make use of opportunities created by the current market conditions to prepare for next year’s bitcoin halving,” said Gary A. CleanSpark also purchased 45,000 brand-new Antminer S19 XP units for $23/TH in April, and has since made significant progress on the payment schedule as it works to build one of the most efficient bitcoin mining fleets in the world. The Company purchased 20,000 brand-new Antminer S19j Pro+ units for $13.15/TH in the month of February, all of which have been fully paid for. This purchase is the latest in a series of discounted machine purchases and other acquisitions made by CleanSpark since the crypto bear market began. “This additional machine purchase also gives us substantial optionality to replace the units in our existing fleet that consume more than 30 joules per terahash while allowing us to maintain less efficient machines only if the economics support doing so.” “This purchase ensures that we are prepared to meet and potentially exceed our year-end target of 16 EH/s and also positions us to be one of the most power-efficient miners on an energy-per-hashrate basis,” said Zach Bradford, CEO of CleanSpark. The units are expected to be deployed across the Company’s state-of-the-art mining facilities. The Antminer S19 XP units have a power-efficiency rating of 21.5 joules per terahash (J/TH) and a bitcoin mining compute power (or hashrate) of 141 terahash per second (TH/s) each, for a combined total hashrate of 1.76 exahashes per second (EH/s).Īccording to the purchase agreement, 6,000 of the 12,500 machines are scheduled to be shipped by the manufacturer in June, while the remaining 6,500 machines are set for shipping in August. (Nasdaq: CLSK), America’s Bitcoin Miner™, today announced a purchase of 12,500 brand-new units of the Antminer S19 XP bitcoin mining machine for a total price of $40.5 million, or $23 per terahash ($/TH), which is lower than the current average market price. LAS VEGAS, J(GLOBE NEWSWIRE) - CleanSpark Inc.
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