The Company mined 806 bitcoin in
March, up 24% from February; total bitcoin holdings
now at 5,021
LAS
VEGAS, April 1, 2024 /PRNewswire/
-- CleanSpark Inc. (Nasdaq: CLSK), America's
Bitcoin Miner™, today released its unaudited
bitcoin mining and operations update for the month
ending March 31, 2024.
"March results were the pay-off for our hard work and tremendous
growth over the last few months as it was the first full month with
the Sandersville expansion and our
newly acquired sites in Mississippi online, bringing our entire
operating hashrate to over 16 EH/s, with 17 EH/s imminent. The
result was a record amount of bitcoin mined in the
last full month before halving," said Zach
Bradford, CEO. "I'm also pleased to report that our
bitcoin treasury has grown to over 5,000
bitcoin. Pair that with our current cash balance of
over $300 million and we are well on
our way to taking advantage of what we expect to be one of the most
active merger and acquisition seasons ever experienced in our
industry.
"With the capital on hand we have now fully funded the remaining
payments of all 160,000 S21s that we announced in January. We are
prepared to thrive post-halving. We are now looking beyond halving
and expect to be highly active over the coming months given that we
have the balance sheet and capital tools to make us one of the most
aggressive acquirers in the industry.
"Opportunities are prevalent, and we believe the consolidation
prospects, which have been discussed abundantly throughout the
industry for some time, are more relevant than ever before. Being
prepared to act on the opportunities that meet the CleanSpark
standard will be our focus for the balance of the year. We now have
all the tools in place to be best positioned for action. We look
forward to sharing more in the coming weeks and months as we
continue our extraordinary journey to 50 EH/s while maintaining one
of the most energy efficient bitcoin mining fleets in
the world."
March Bitcoin Mining Update (unaudited)
- Bitcoin mined in March: 806
- CY2024 bitcoin mined: 2,031
- Total bitcoin holdings as of March 31: 5,021
- Total bitcoin sold in March: 3.37
- Deployed fleet: 133,963
- Month-end fleet efficiency: 24.63
- Current hashrate: 16.4
The Company sold 3.37 bitcoin in March 2024 at an average of approximately
$58,800 per
bitcoin. March daily bitcoin mined
averaged 26 and reached a high of 28.14.
Operational Update
Dalton energization.
Construction of the Company's
recent Dalton acquisition is nearing completion. Fifteen megawatts
of power are scheduled to be turned on early this week; we expect
to promptly begin racking miners upon energization. Once miners are
racked, this site will bring CleanSpark's operating hashrate to
over 17 EH/s. It is expected to be fully operational on or before
April 12. This site marks the first
step of adding 3 EH/s in the coming quarter to reach 20 EH/s.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is America's Bitcoin
Miner™. We own and operate data centers that primarily run on
low-carbon power. Our infrastructure responsibly supports
Bitcoin, the world's most important digital commodity
and an essential tool for financial independence and inclusion. We
cultivate trust and transparency among our employees and the
communities we operate in. Visit our website at
www.cleanspark.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. In this press release, forward-looking statements include,
but may not be limited to, statements regarding the Company's
expectations, beliefs, plans, intentions, and strategies. In some
cases, you can identify forward-looking statements by terms such as
"may," "will," "should," "expects," "plans," "anticipates,"
"could," "intends," "targets," "projects," "contemplates,"
"believes," "estimates," "forecasts," "predicts," "potential" or
"continue" or the negative of these terms or other similar
expressions. The forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other
important factors that may cause our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to:
anticipated additions to CleanSpark's hashrate and the timing
thereof; the risk that the electrical power available to our
facilities does not increase as expected; the success of its
digital currency mining activities; the volatile and unpredictable
cycles in the emerging and evolving industries in which we operate;
increasing difficulty rates for bitcoin mining;
bitcoin halving; new or additional governmental
regulation; the anticipated delivery dates of new miners; the
ability to successfully deploy new miners; the dependency on
utility rate structures and government incentive programs;
dependency on third-party power providers for expansion efforts;
the expectations of future revenue growth may not be realized; and
other risks described in the Company's prior press releases and in
its filings with the Securities and Exchange Commission (SEC),
including under the heading "Risk Factors" in the Company's Annual
Report on Form 10-K for the fiscal year ended September 30, 2023, and any subsequent filings
with the SEC. Forward-looking statements contained herein are made
only as to the date of this press release, and we assume no
obligation to update or revise any forward-looking statements as a
result of any new information, changed circumstances or future
events or otherwise, except as required by applicable law.
Investor Relations Contact
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.