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December 1, 2022
News Release
CleanSpark Expands Board of Directors with Appointment of Bitcoin Policy Expert Amanda Cavaleri
Cavaleri, board chair of the non-profit Bitcoin Today Coalition, brings extensive advocacy and policy experience to CleanSpark’s board of directors.
CleanSpark Executives to Discuss Fiscal Full Year and Fourth Quarter 2022 Financial Results Via Webcast
Fiscal full year and fourth quarter 2022 financial results will be discussed via a live webcast beginning 4:30 p.m. EST / 1:30 p.m. PST on Wednesday, December 14, 2022.
Axios: Looking at Bitcoin Mining Under the Surface
Axios reporter Brady Dale explains the basics of Bitcoin and what he learned about CleanSpark during a visit to our immersion-cooled facility in Norcross.
Finally Fair Value: FASB Changes Accounting Standards for Crypto Assets
Our CFO Gary A. Vecchiarelli explains the new rule by the Financial Accounting Standards Board (FASB), which now allows crypto assets to measured with fair value accounting.
Bloomberg Quicktake: The Ethereum Merge, Miners & Making Bitcoin Greener | Crypto IRL
CleanSpark CEO Zach Bradford joined reporters Katie Greifeld and Tim Stenovec at the Bloomberg Quicktake studios to have a conversation about Bitcoin and its energy usage.
Bitcoin Amsterdam Panel: "The Energy Crisis & Bitcoin" with CleanSpark CEO/ President Zach Bradford
Zach spoke on a panel at Bitcoin Amsterdam about grid stability, renewable energy abundance and bitcoin mining. He describes how miners can propel clean energy infrastructure.
CleanSpark Exceeds Hashrate Guidance with Over 4 EH/s of Low-Carbon Network Strength
Our hashrate, the majority of which is drawn from low-carbon sources, has grown over 30% in less than a month and we're on track to meet our EOY guidance of 5 EH/s.
Bitcoin Magazine: How Bitcoin Miner CleanSpark Keeps Building in the Bear Market
This op-ed by a fellow Bitcoin industry thought leader discusses the bear market and how CleanSpark has created a successful strategy during this time.
CleanSpark Announces Agreement with Mawson Infrastructure Group to Acquire Turnkey Bitcoin Mining Facility
The already operational site in Sandersville, Georgia, includes 80 MW of total capacity supporting 2.4 EH/s of bitcoin mining; Total expected support of 7.0 EH/s.
WJBF-TV: A New Bitcoin ‘Mining’ Facility Comes to Community in Wilkes County
We've acquired and are expanding a bitcoin mining facility in Washington, GA, by employing locals. TV station WJBF stopped by to interview CleanSpark management and film on site.
CleanSpark Completes Acquisition of Recently Announced 86MW Facility in Georgia
Transaction closes ahead of schedule, paving way for energization of 3,400 on-site machines in coming days; additional 8,283 machines to arrive on site within the week.
CleanSpark Reports Third Quarter FY2022 Financial Results
Third quarter revenue was $31 million with an adjusted EBITDA of $15.2 million. CleanSpark's assets total $411.1 million with working capital at $9.5 million.
CleanSpark Acquires Plug-in Ready Bitcoin Mining Facility Scalable to 86 Megawatts, or 2.6 EH/s
The new site in Washington, Georgia, currently at 36 megawatts, is expected to add 1.1 EH/s to CleanSpark’s hashrate in current quarter, a 38% increase.
It’s hard to believe during MiningDisrupt a year ago, we met representatives from Lancium and the Sustainable Bitcoin Protocol who are both highly valued CLSK partners today!
Yahoo! Finance: CleanSpark Exec on Mining Outlook, Expanding During Bear Market
Our executive chairman Matt Schultz spoke with CoinDesk TV's Christine Lee about some of our business strategies and recent bitcoin news, which was picked up by Yahoo! Finance.
CleanSpark Expands Bitcoin Mining Capacity by over 90 Petahashes with Acquisition of Latest Generation Machines
CleanSpark's computing power has increased by 47% over the last six months, while our monthly bitcoin production has grown 50% over the same time period.
Bloomberg: Crypto Miner Will Use Batteries to Ease Strain on Texas Grid
CleanSpark partner Lancium signed a deal to use power from utility-scale batteries (charged mostly by wind and solar) for bitcoin mining when demand on the grid is high.
CoinDesk: Crypto Miners Face Margin Calls, Defaults as Debt Comes Due in Bear Market
Our executive chairman Matt Schultz contributed great thought leadership to this article discussing the bitcoin mining space, responsible debt and strategic operations.
Business Insider: Energy Costs Are Soaring, Bitcoin’s Price Is Plummeting — And That’s Why Big Crypto Miners Are Selling Tokens at a Discount
"A string of publicly-traded miners that once held all their coins have been forced to sell, some at quite deep discounts," says CleanSpark Executive Chairman Matt Schultz.
CleanSpark Executive Chairman Matt Schultz recently sat down with SRAX to discuss our energy background and how we've evolved into a successful bitcoin miner.
CleanSpark Acquires Contract for Best-in-class Mining Machines, Partners with TMGcore to Expand Immersion-cooled Operations
We have secured the fastest and most power-efficient bitcoin mining machines at a significantly discounted price—along with immersion-cooling infrastructure.
Bloomberg: Bitcoin Miners Are Selling Tokens as Prices Linger Near Lows
Small miners are at risk of needing to liquidate mined bitcoin, says our executive chairman Matt Schultz to Bloomberg. Meanwhile, CleanSpark's holdings increased 23% in May.
CleanSpark Reports Second Quarter FY2022 Financial Results
Second quarter revenue of $41.6 million, net loss of $(0.17) million and Adjusted EBITDA of $22.5 million; Company continues to execute its strategic plan and make significant headway in mining operations.
Bitcoin Magazine: Building New Grids to Support Local Communities and Strengthen the Bitcoin Network
CleanSpark CEO Zach Bradford’s Bitcoin 2022 panel was covered by Bitcoin Magazine. The article highlighted key points from Bradford as well as the other panelists.
CoinDesk: Bitcoin Mining and ESG -- A Match Made in Heaven
As clean energy gradually gets cheaper, mining operations will help subsidize green projects, writes the CEO of CleanSpark. This op-ed is part of CoinDesk’s Mining Week.
Bloomberg: Margins of Up to 90% Give Energy Firms That Mine Bitcoin an Edge
CleanSpark hasn't sold a single share of equity since November and operates at a 90% bitcoin mining profit margin, according to our executive chairman Matt Schultz.
Proactive: Cleanspark Says “Everything Going According to Plan” as It Reveals February Bitcoin Mining Numbers
CleanSpark Executive Chairman Matt Schultz spoke with Proactive's Christine Corrado about recent company news including the Q1 earnings call, February's bitcoin production, immersion cooling updates, salary increases for bitcoin mining employees, and more.
WSB-TV: This Is How Georgia Is Becoming One of the Biggest Hubs for Bitcoin Mining, Digital Investing
WSB-TV aired a segment discussing Georgia as a booming hub for bitcoin miners and interviewed CleanSpark Executive Chairman Matt Schultz at our facility in College Park.
10 Natural Resources the Metaverse Will Use - Part 2
It’s easy to get lost in the futuristic world of Bitcoin, NFTs and metaverse technology but something that will never change is our reliance on natural resources.
10 Natural Resources the Metaverse Will Use - Part 1
It’s easy to get lost in the futuristic world of Bitcoin, NFTs and metaverse technology but something that will never change is our reliance on natural resources.
Bitcoin Magazine: Illinois, Georgia Want to Give Tax Cuts for Bitcoin Miners
Illinois and Georgia recently introduced legislature to provide tax incentives for bitcoin miners. CleanSpark uses the long-standing Georgia Territorial Electric Service Act for our bitcoin mining facilities. This Bitcoin Magazine article features a quote from CleanSpark Executive Chairman Matt Schultz.
CoinDesk: Bitcoin Miner CleanSpark Surges on Plan to Sell Legacy Energy Business
Shares of CleanSpark rose sharply on news that the company plans to sell its legacy energy business in order to focus on faster-growth bitcoin mining operations.
CleanSpark Reports Record First Quarter FY2022 Financial Results
Company reports record revenues of $41.2 million, Significant gross and net margin expansion; Management to communicate revised strategy and long-term vision on earnings call.
Bisnow: 'Sleepy Rural Settlements' Becoming Crypto Boomtowns In Cheap-Power States
The "cheap" electricity in Georgia combined with clean energy has been instrumental in the success of our bitcoin mining operations. It has also allowed us to give back to the community via employment opportunities, upgraded power lines, scholarships and beyond. This Bisnow article features quotes from CleanSpark CEO Zach Bradford.
Gwinnett Technical College Students Awarded Scholarships As Part of CleanSpark’s Community Commitment
CleanSpark established the CleanSpark Scholarship for Technological Innovation at Gwinnett Technical College for five students seeking an associate degree in the computer sciences program.
Industries That Decarbonize Will Revitalize the Economy
CleanSpark recognizes fundamentally that as the economy changes due to the rise in decentralized currency’s popularity that decarbonization must carry over into the new economy as well.
CleanSpark Announces New 20 MW Immersion Cooling Initiative at Norcross Bitcoin Mining Facility
The new data center’s immersion cooling technology is expected to increase bitcoin mining efficiency by 20% or more, according to industry standards and the manufacturer.
CoinDesk: Bitcoin Miner CleanSpark Buys New Machines to Take Advantage of Spot Market Prices
CleanSpark purchases 2,597 Antminer S19 bitcoin mining machines, in addition to 2,711 already being delivered this month. This increases the company’s current hashrate of 1.3 EH/S by almost 20%.
Cointelegraph: To the Roots of Mining -- Bitcoin Going Green Faster Than Ever
Cointelegraph discusses the shift to clean energy in cryptocurrency mining. CleanSpark CEO Zach Bradford details how bitcoin mining can make use of abandoned energy sources while also contributing to local utilities that need extra energy.
Utah Business: CleanSpark Wants to Make Bitcoin Mining Sustainable
Utah Business interviews CleanSpark Co-Founder and Executive Chairman Matt Schultz about the company's past, present and future. Motivated by its roots in renewables and energy storage, CleanSpark is making the notoriously energy-consuming process of bitcoin more planet-friendly.
Proactive: CleanSpark Leverages Its Mined Digital Currency to Fund 4,500 Newest Generation Miners
Proactive’s Christine Corrado interviews CleanSpark Executive Chairman Matt Schultz about our new order of 4,500 S19 bitcoin mining units and how CleanSpark leverages the value of the bitcoin that we hold.
Bitcoin Magazine: Bitcoin Miner CleanSpark to Expand Mining Capacity by 45%
Bitcoin Magazine covers the news of CleanSpark’s bitcoin mining expansion with the purchase of more S19 Antminer machines. An increase in computing power by 450 PH/S is expected for the mining operations, which take part in Georgia’s Simple Solar program.
Renewable energy has evolved and expanded over the last two decades. It is now a force in both the environment and the economy, but such gains have not been without growing pains.
Creating Energy Resiliency Amid an Unreliable Power Grid
Resilient energy is energy which can operate independently or adapt under the weight of external forces. For a business like a winery or a home, it means the ability stay open and keep the lights on during a natural disaster, power surge, rogue wind, or even a raging fire. Power outages in California have become a massive issue in the past couple of years, most notably due to the growing number of wildfires. As a result, California, and especially Napa Valley, are leading the push for resilient energy.
CleanBlok Shares Approach to Sustainable Bitcoin Mining at Digital Mining Energy Conference 2021
Bitcoin is more mainstream than ever, but there’s a certain stigma that surrounds mining the popular cryptocurrency due to its high energy consumption.
Efficient Change: Senate Introduces Tax Relief Bill Incentivizing Clean Energy Use
In March of 2021, U.S. Senators Tom Carper, Martin Heinrich and Sheldon Whitehouse introduced the Save America’s Clean Energy Jobs Act to help recover almost 430,000 clean energy jobs lost from February to December of last year.
Residential Solar and Battery Rebates Across Country Support Growing Renewable Energy Sector
Renewable energy sources can work together in a residential microgrid to help a homeowner save money as well as provide backup power when the utility grid is shutdown.
Updates to CleanSpark Energy Modeling Software Explained
CleanSpark’s microgrid modeling and design tool was created for Developers, EPCs, and Energy Consultants to help accurately plan projects that utilize multiple distributed energy resources recently underwent upgrades.
The California Self-Generation Incentive Program encourages residential storage deployments in California. The program provides incentives to help reduce the costs of energy storage (batteries) to consumers. Residential storage (batteries) reduce strain on utilities and provide resiliency for homeowners.
An aging infrastructure, unplanned natural disasters, and increased pricing are constantly putting a strain on traditional power sources and consumers alike. Why risk your electricity when you can opt for your very own residential microgrid?
Automated grid flexibility is critical to a renewable energy powered grid by ensuring electricity is used when it is cleanest and cheapest. Automating via Open Standards reduces implementation costs and improves interoperability of programs, which means more money can go towards incentivizing the participation and innovation necessary to support the clean energy transition.
FERC Order Number 2222 that will help aggregated distributed energy resources (DERs) compete alongside and work with traditional power grid resources. The FERC ruling will promote competition in electric markets by removing the barriers preventing distributed energy resources (DERs) like CleanSpark and its partners from competing in an organized capacity in energy and ancillary services markets run by regional grid operators.
Many states and utilities have created net-metering programs, which provide energy credits for solar generation exported to the utility grid, but as more renewables have come online, this has become more difficult to manage as the curve of the typical load profile across the utility has changed. The California Independent System Operator (CAISO) has been tracking their “duck curve” of actual and projected net loads across their infrastructure.
