All statements other than statements of historical facts contained in this press release may be forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for expansion of the Company’s Washington, Georgia bitcoin mining facility, the resulting anticipated benefits to CleansSpark (including as to anticipated additions to CleanSpark’s hashrate and the timing thereof) and plans to expand the facility. For more information about CleanSpark, please visit our website at Forward-Looking Statements CleanSpark holds the 44th spot on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas and ranks thirteenth on Deloitte’s Fast 500.
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 allowed the company to increase its hashrate from 2.1 EH/s, in January 2022, to 6.2 EH/s, in December 2022, despite a downturn in the cryptocurrency markets.ĬleanSpark (NASDAQ: CLSK) is America’s bitcoin miner. “This partnership will go a long way in not only the timely completion of the next phase but also making it one of the most reliable mining operations.”ĬleanSpark mines predominantly with renewable or low-carbon sources of energy and continues to follow a capital management strategy of selling a major portion of its mined bitcoins to reinvest in growth. “The community of Washington and the team on site have played a crucial role in the successful deployment of the first phase of the site, which uses mainly low-carbon sources of power, employs newest generation tech, and is among the most power-efficient and sustainable bitcoin mining operations,” said Scott Garrison, Vice President of Business Development. We are looking forward to expanding our relationship with the Washington City community and to be able to support the construction jobs that will come with this expansion.” “This second phase more than doubles the size of the existing operation. “When we purchased the Washington site in August, we were confident about our ability to quickly expand, adding this 50MW to the existing 36MW of infrastructure,” said Zach Bradford, Chief Executive Officer. Depending on the final number of each model in the mix, the total computing power that will be added to CleanSpark’s bitcoin mining capacity will range from 1.6 EH/s to 2.2 EH/s - a 25% to 34% increase from its current hashrate of 6.5 EH/s.
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The mining machine fleet at the new phase will consist of Antminer S19j Pro and Antminer S19 XP models, the newest and most power-efficient models of bitcoin mining machines available today. Upon completion, the new phase, which is expected to employ only the newest generation of bitcoin mining machines, will add up to 2.2 exahashes per second (EH/s) of computing power to the Company’s mining capacity. The Company acquired this campus in August of 2022 as part of its recent bear-market growth campaign. (Nasdaq: CLSK) (“CleanSpark'' or the “Company”), America’s Bitcoin Miner™, announced today that it has started construction on the second phase of one of its newest sites in Washington, Georgia. 19, 2023 (GLOBE NEWSWIRE) - CleanSpark Inc. The nearly $16M expansion, with projected completion in late spring, will hold up to 16,000 miners and cements CleanSpark’s position among North America’s top bitcoin miners Once completed, the Company’s hashrate is expected to reach as high as 8.7 EH/s
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