CleanSpark is on a mission to mine Bitcoin responsibly utilizing clean energy and at the lowest energy cost possible. To achieve that vision, CleanSpark intends to employ our microgrid technologies and our mPulse controls platform at Bitcoin mining facilities. We took the first step towards that vision with the December 2020 acquisition of a Data Center.
Why Bitcoin Mining?
Both the popularity and the value of cryptocurrency is continually increasing and is expected to grow for the foreseeable future. Over the past 10 years, cryptocurrencies have seen exceptional returns even after volatility and continue to prove their resiliency. This is partly due to institutional investors’ support of Bitcoin’s long-term value and a notable amount of adoption as significant publicly-traded companies including Tesla, MicroStrategy, Square, PayPal and many more have added Bitcoin to their operational strategy or Balance sheets.
Bitcoin mining is simply the means of getting compensated to process data (on the blockchain). Bitcoin Miners are awarded Bitcoin as payment for completing blocks of verified transactions to be added to the blockchain.
Why would a Clean Energy Company Start Bitcoin mining?
Because it’s a big problem we intend to help solve. CleanSpark’s microgrid technologies can provide sustainable, affordable, and renewable energy solutions to support Bitcoin mining data centers. We expect to demonstrate these concepts at our Data Center facilities located in Atlanta, Georgia.
Reducing the Carbon Footprint of Bitcoin Mining
Throughout the Bitcoin mining industry, there is already a movement for miners to power their operation using renewable energy sources, with a focus on reducing the carbon footprint of mining. When the power sources are from surplus sources it can also help offset grid imbalances for utilities. Certain factors within the industry are driving this shift: availability of hydropower; cost reduction and efficiency of solar; emergence of storage systems; integration of generators, and federal actions under the Biden Administration that are expected to facilitate the deployment of additional renewable energy. Not only will the economy benefit from reduced emissions from fossil fuels, but it will effectively provide cheaper energy to the consumer.
While movement to purchasing renewable energy from the grid for Bitcoin mining is a step in the right direction, we believe that pairing renewable focused purchasing with an onsite microgrid at mining centers to work in conjunction with the grid will prove to be the optimal solution. The advantages of deploying a CleanSpark controlled microgrid at a Bitcoin mining facility may include:
Our Competitive Advantage
ATL Data Centers and CleanBlok are wholly owned CleanSpark subsidiaries that provide customers with traditional on-site and cloud-based data center services in addition to operating our own a fleet of Bitcoin miners currently producing between 1.8-2.1 bitcoins a day as of April 12, 2021.
CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States.