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Sep 16, 2021 9:00 AM

CleanSpark Joins with Partnership Gwinnett to Announce $145 Million in Capital and Human Investments

SALT LAKE CITY, Sept. 16, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and diversified energy company, joined Partnership Gwinnett to announce expected capital and human investments of nearly $145 million over the next five years at CleanSpark's data center in Norcross, Georgia.

The $6.55 million purchase of the former Sprint/Nextel data center, announced earlier in August, is expected to bring 20 skilled and highly skilled jobs to the community, at an average yearly wage of approximately $50,000. CleanSpark expects the facility to be operational by late 2021.

CleanSpark is working with Partnership Gwinnett because of the organization's substantial role in the county and surrounding area. Partnership Gwinnett is supported by over one hundred companies, municipalities, and educational institutions to strengthen Gwinnett County's diverse economy and ability to compete in the global marketplace.

"Gwinnett County's momentum as a major player in job creation is distinct," said Gwinnett County Chairwoman Nicole Hendrickson. "With CleanSpark coming to Norcross, it means economic stability in a workforce tailored to providing solutions to modern energy challenges."

In addition to direct upgrades to the facility, CleanSpark is partnering with Georgia Power to invest in a $2 million power expansion. Improvements are expected to benefit power customers and community members living near CleanSpark's new facility. The Company will also participate in Georgia's Simple Solar program and anticipates the addition of onsite renewables, solar installations, and other microgrid energy solutions. The mining operations are expected to be 100 percent carbon neutral.

"We believe bitcoin mining can make a positive contribution to the neighborhoods we operate in," said Zach Bradford, CleanSpark CEO and President. "We are committed to being socially and environmentally responsible partners and are proud to work with Partnership Gwinnett as we grow our relationships with other businesses and governmental organizations in Georgia."

Over the next five years, CleanSpark's community investment is expected to include:

  • $7.5 million in property investment
  • $132 million in equipment & hardware investments
  • $4.1 million in people
  • 20 highly skilled and skilled jobs, ~$50,000 average annual wage
  • $2 million investment in power expansion with Georgia Power
  • Expectation of 100% net carbon-neutral

"We are delighted to add another company into the fold that reflects our commitment to sustainability," said Norcross Mayor Craig L. Newton. "We are also exceptionally honored that such an innovative and forward-looking corporation as CleanSpark intentionally selected Norcross as home to its newest data center. Economic viability and environmental stability are directly tied together, and Norcross is fortunate that a growing number of companies recognize our dedication to both. We look forward to welcoming CleanSpark and the many jobs it will bring to our city later this year."

Partnership Gwinnett also worked with Gateway 85 CID.

"Gateway85 CID and Partnership Gwinnett have been working hard to attract innovative companies like CleanSpark to the district," said Emory Morsberger, executive director - Gateway85 CID. "We're thrilled to have a company not only focused on solving today's energy challenges, but also adding more jobs to our economic base."

Deven Cason, Director of Business Retention and Expansion, represented Partnership Gwinnett in conjunction with the Metro Atlanta Chamber and Georgia Power on the project.

"In Gwinnett County, we are focused on technological innovation and creating an environment of advancement," said Cason. "We are excited to welcome CleanSpark to Norcross and Gwinnett County."

Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

About CleanSpark
CleanSpark, Inc., a Nevada corporation, is a clean bitcoin mining and energy technology company that is focused on solving modern energy challenges.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
(801) 244-4405

Press:
Isaac Holyoak
pr@cleanspark.com

About Partnership Gwinnett

Partnership Gwinnett is a public-private initiative dedicated to bringing new jobs and capital investment to Gwinnett County, Georgia. Since 2006, Partnership Gwinnett has worked with its local partners to attract and retain jobs, cultivate capital investment, support educational institutions, foster workforce development, and contribute to the exceptional quality of life found in Gwinnett. Fueled by the support of over one hundred companies, municipalities, Gwinnett County, K-12 and higher education systems, the mission of Partnership Gwinnett is to strengthen the community's diverse economy to compete in the global marketplace and position Gwinnett as the premiere place to live, work and play.

Media Contact:
Jaclyn Allison
Partnership Gwinnett, Director of Marketing, Communications & Events
jallison@partnershipgwinnett.com
770-232-8814


Isaac Holyoak CleanSpark, Inc. pr@cleanspark.com Jaclyn Allison Partnership Gwinnett jallison@partnershipgwinnett.com 
News Provided by GlobeNewswire via QuoteMedia

Aug 23, 2021 9:30 AM

CleanSpark to Discuss its Bitcoin Mining Growth with Water Tower Research

SALT LAKE CITY, Aug. 23, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and diversified energy company, announced today that CEO Zach Bradford will participate in Water Tower Research's Sustainable Investing Fireside Chat Series on Tuesday, August 24, 2021, at 1:30 p.m. EDT.

The fireside will take a deep dive into CleanSpark's bitcoin mining operation focusing on the recent increase in bitcoin production and hashrate capacity, the associated margin opportunity, and outlook for this business. The conversation will be moderated by Shawn Severson, Water Tower's Head of Sustainable Investing.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay. The event is open for all.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1490991&tp_key=d8efe322fe

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .


About CleanSpark

CleanSpark, Inc., a Nevada corporation, is an energy technology and clean bitcoin mining Company that is focused on solving modern energy challenges.

For more information, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Aug 19, 2021 9:25 AM

CleanSpark Rolls Out Smart Residential Microgrid Solution and Mobile App, mVoult

CleanSpark Rolls Out Smart Residential Microgrid Solution and Mobile App, mVoult

PR Newswire

SALT LAKE CITY , Aug. 19, 2021 /PRNewswire/ --  CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced an update to ongoing roll-out of mVoult, the Company's smart energy system and companion mobile app designed specifically for homes and small businesses.

mVoult is built off of the same platform as CleanSpark's existing, patented mPulse product, which is tough enough for the military and is also flexible enough to be used in commercial, industrial, and estate home applications.

mVoult is a single solution for resilient, reliable, and cost-effective energy for residential properties of all sizes. The system is fully configurable according to the user's needs. Homeowners can start small and expand the modular system without significant design changes as their goals or requirements grow. mVoult enables a system to use power generated from multiple sources, including the main utility, solar, or battery. It also supports storing energy for use during utility disruptions or when economic opportunities exist to lower utility bills.

"We've anticipated using our microgrid technologies to create a cost-effective product offering which can add significant value to the residential energy sector by giving homeowners the choice of power so that they can determine the best application for their individual needs," said CleanSpark President and CEO Zach Bradford . "The pandemic made it more apparent how important self-reliance can be, by giving our customers the opportunity to generate, use and store energy with a focus on renewable resources. CleanSpark is committed to supporting that process."

The companion mobile app connects to the mVoult smart power system and is the window into the homeowner's power system. With the app, users can see how their systems are performing, understand all-time and month-to-date energy cost savings, and view and change system settings, including battery reserve, and monitor the system's energy usage in real-time. The mobile app is available for download in both the Apple and Google Play app stores.

The Company is focusing on California for its first phase of installations as much of the state continues to face disastrous wildfires and power outages. mVoult provides resiliency and cost savings whether the traditional grid is up or down.

The Company has a significant supply of batteries either in transit, or in the Carlsbad warehouse, which are continuing to be deployed as quickly as permitting and personnel allow.

Despite global battery supply shortages, CleanSpark has solidified partnerships with multiple top-tier residential battery manufacturers providing ample supply to meet our growing customer demand.

"We are seeing positive improvements to the overall global supply chains and have been rapidly deploying batteries," said Amer Tadayon , CleanSpark Chief Revenue Officer and Energy Division President. "We expect continued normalization, adding momentum to our residential energy initiative."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .


About CleanSpark
CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on solving modern energy challenges.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
(801) 244-4405

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-rolls-out-smart-residential-microgrid-solution-and-mobile-app-mvoult-301358869.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 17, 2021 9:25 AM

CleanSpark, Inc. Reports Financial Results for its Third Quarter Ended June 30, 2021

Nine-month revenue increased 176% to $22.3 million from one year ago period

CleanSpark, Inc. Reports Financial Results for its Third Quarter Ended June 30, 2021

Three-month revenue increased 250% to $11.9 million from one year ago quarter

Nine-month revenue increased 176% to $22.3 million from one year ago period

PR Newswire

SALT LAKE CITY , Aug. 17, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a clean Bitcoin mining and diversified software and services company, yesterday reported results after the close of the US markets for the three and nine months ended June 30, 2021 .

The Company's Quarterly Report on Form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/ .

As previously announced, the Company held its third quarter 2021 live virtual earnings presentation and business update for investors and analysts on August 16, 2021 , at 1 p.m. PDT / 4 p.m. EDT . A recording of the call is available for replay at:

https://globalmeet.webcasts.com/viewer/event.jsp?ei=1486534&tp_key=e7f1f1fab1

A transcript of the event is available on the Company's website.

Financial Highlights

Nine months ended June 30, 2021

  • Revenues for the nine months ended June 30, 2021 , were $22.3 million , an increase of $14.2 million , or 176%, from $8.1 million for the same prior year period.
  • Net loss for the nine months ended June 30, 2021 , was ($16.4) million , or ($0.60) loss per share, compared to a loss of ($16.3) million , or ($2.32) loss per share, for the same prior year period, an improvement of $1.72 per share.
  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss for the nine months ended June 30, 2021 , of ($2.7) million , or ($0.10) loss per share, compared to a loss of ($4.1) million , or ($0.58) loss per share, for the same prior year period.
  • Adjusted EBITDA after incorporation of non-recurring costs, a non-GAAP term, resulted in a non-GAAP net income for the nine months ended June 30, 2021 , of $6.2 million , or $0.23 earnings per share, compared to a net loss of ($3.9) million , or ($0.56) loss per share, for the same prior year period-an improvement of $0.79 per share.

Three months ended June 30, 2021

  • Revenues for the three months ended June 30, 2021 , were $11.9 million , an increase of $8.5 million , or 250%, from $3.4 million for the same prior year period.
  • Net loss for the three months ended June 30, 2021 , was ($16.7) million , or ($0.49) basic loss per share, compared to a loss of ($8.5) million , or ($0.77) loss per share, for the same prior year period-an improvement of $0.28 per share.
  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss for the three months ended June 30, 2021 , of ($3.6) million , or ($0.11) loss per share, compared to a loss of ($1.1) million , or ($0.10) loss per share, for the same prior year period.
  • Adjusted EBITDA after incorporation of non-recurring costs, a non-GAAP term, resulted in a non-GAAP net income for the three months ended June 30, 2021 , of $2.3 million , or $0.07 earnings per share, compared to a net loss of ($1.1) million , or ($0.10) loss per share, for the same prior year period-an improvement of $0.17 per share.

Bitcoin Mining Production

  • In the quarter ended June 30, 2021, the Company produced more than 191 Bitcoins and has produced an aggregate of 598 Bitcoins since acquiring its mining operations on December 10, 2021, through August 14, 2021 .

Balance Sheet Highlights as of June 30, 2021

Assets:

  • Cash: $22.2 Million
  • Digital Currency: $10.4 Million , or 301.4 Bitcoin
  • Total Current assets: $51.9 Million
  • Total Mining assets (Prepaid Deposits/Deployed Miners): $188.2 Million
  • Total Assets: $297.5 Million

Liabilities and Stockholders' equity:

  • Current Liabilities: $11.9 Million
  • Total Liabilities: $15.7 Million
  • Total Stockholders' Equity: $281.8 Million

Working capital

Working capital of $39.9 million as of June 30, 2021 , compared to $2.9 million as of September 30, 2020 , for an increase of $37.0 million .

Operational Highlights - Quarter ended June 30, 2021

  • Current hashrate capacity now exceeds 820 PH/s, which is nearly double the capacity just 46 days ago. The Company anticipates achieving 1.0 EH/s in production capacity within the coming month when the balance of the mining rigs scheduled to be hashing in August are installed. To put this in perspective, the Company produced just over 3 BTC on June 30 . It is now capable of producing between 6 and 7 Bitcoin per day. At current difficulty rates, 1.0 EH/s would result in approximately 8-9 bitcoins per day, which would result in $376,000 to $423,000 per day, or $137 million to $154 million in annualized revenue, using a bitcoin price of $47,000 .
  • CleanSpark continues to work on expanding its total energy capacity to accelerate the growth of its bitcoin mining operations in Atlanta this fall. The expansion will bring this site's total capacity to 50 MW. In addition to this expansion, a partnership with Coinmint has allowed the Company to continue growth while construction is ongoing. All the new mining rigs received this summer were promptly deployed with Coinmint. This partnership has increased the total available power for mining by approximately 25 MW.
  • CleanSpark has over 22,000 of the latest generation Bitmain S19 and S19 Pro mining rigs scheduled to arrive and be installed over the next 12 to 14 months, and the Company expects to place additional orders in the near future to continue growing its mining fleet beyond what it has currently ordered. As a result of these pre-orders, the hashrate is expected to increase to 3.4 EH/s.  For perspective, at current difficulty rates, if the full 3.4 EH/s of capacity were in place today it would result in 26 to 28 bitcoins per day. This capacity, in turn, would result in $1.2 to $1.3 million per day, or $446 million to $480 million in annualized revenue, using a Bitcoin price of $47,000 .
  • CleanSpark has seen continued growth in its Electric Vehicle (EV) charging initiative, with 15 EV companies now using the Company's OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.
  • The Company continues to see strong growth trends in the energy business. CleanSpark executed over $6.0 million in additional energy-related contracts last quarter and increased its quarter-over-quarter revenues by 61%. This strong sales growth has resulted in a very robust backlog that is expected to result in positive revenue growth over the next several quarters. Although the Company is seeing strong sales growth, the energy industry as a whole is still encountering certain global supply chain constraints, such as the tight battery supply experienced in the Company's past quarter. Fortunately, the supply chain is being shored up and a large number of batteries were received into inventory in June and July. CleanSpark expects positive improvements to the overall global supply chain and continued normalization through the balance of 2021.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or by visiting the Company's website.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on solving modern energy challenges. The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facilities outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the Company. The Company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense, other non-cash expenses, certain non-recurring expenses, and expenses related to discontinued operations.

Adjusted EBITDA and Adjusted EPS is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CleanSpark management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the Company's core business operating results and those of other companies, as well as providing the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.

The Company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The Company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CleanSpark management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.



Three Months Ended



June 30,
2021


June 30,
2020

Net Income/(Loss) attributable to shareholders (US GAAP)

$

(16,677,127)

$

(8,551,301)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


3,656,757


745,244

Stock based compensation


3,399,371


261,432

Impairment expense


3,720,481


-

Interest, financing charges, non-cash amortization of debt discounts


(28,625)


7,066,496

Unrealized (gain)/loss on equity/derivative security


2,231,360


(638,794)

Non-cash amortization of right of use assets


105,255


11,274

Total:

$

13,084,599

$

7,445,652






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(3,592,528)

$

(1,105,649)






One-time and non-recurring expenses

$

5,895,239

$

-






Non-GAAP Adjusted EBITDA (after elimination of onetime and non-recurring expenses)

$

2,302,711

$

(1,105,649)






Weighted average common shares outstanding - basic


34,014,221


11,119,288






Non-GAAP Adjusted EBITDA earnings/(loss) per common share - basic

$

(0.11)

$

(0.10)

Non-GAAP Adjusted EBITDA (after elimination of non-recurring expenses) earnings/(loss) per common share - basic

$

0.07

$

(0.10)






Nine Months Ended



June 30, 2021


June 30, 2020

Net Income/(Loss) attributable to shareholders (US GAAP)

$

(16,622,124)

$

(16,282,653)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


6,883,020


2,126,313

Stock based compensation


8,599,029


1,171,632

Impairment expense


3,720,481


-

Interest, financing charges, non-cash amortization of debt discounts


(101,367)


10,518,094

Unrealized (gain)/loss on equity/derivative security


(5,418,275)


(1,622,553)

Non-cash amortization of right of use assets


271,715


33,000

Total:

$

13,954,603

$

12,226,486






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(2,667,521)

$

(4,056,167)






One-time and non-recurring expenses

$

8,851,137

$

130,000






Non-GAAP Adjusted EBITDA (after elimination of non-recurring expenses)

$

6,183,616

$

(3,926,167)






Weighted average common shares outstanding - basic


27,355,111


7,003,927






Non-GAAP Adjusted EBITDA earnings/(loss) per common share - basic

$

(0.10)

$

(0.58)

Non-GAAP Adjusted EBITDA (after elimination of non-recurring expenses) earnings/(loss) per common share - basic

$

0.23

$

(0.56)

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-inc-reports-financial-results-for-its-third-quarter-ended-june-30-2021-301356492.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 10, 2021 9:29 AM

CleanSpark Acquires Second Data Center to Increase Bitcoin Mining Capacity

CleanSpark Acquires Second Data Center to Increase Bitcoin Mining Capacity

The new facility's mining operations are expected to operate at 100% net carbon-neutral

PR Newswire

SALT LAKE CITY , Aug. 10, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a clean Bitcoin mining and diversified software and services company, today announced that it has closed on its acquisition of an additional nearly 87,000 square foot data center in Norcross, Georgia , to substantially increase the Company's Bitcoin mining operation.

The $6.55M purchase of the former Sprint/Nextel data center situated on over 7 acres in Norcross, Georgia closed on August 6, 2021 . The facility, located 33 miles from the current ATLData Center and CleanBlok operations in Atlanta , will provide 20 MW of additional power to CleanSpark's mining business with the opportunity for significant expansion. The Company expects to complete the installation of the mining infrastructure and have the miners running by late 2021.

The new facility's mining operations are expected to operate at 100% net carbon-neutral, achieved through its participation in Georgia's Simple Solar program.  The program allows CleanSpark to offset any carbon-based energy included in the regional energy mix with solar power. The Company also anticipates adding onsite renewables, including rooftop and ground mount solar and other microgrid energy solutions.

CleanSpark President and CEO Zach Bradford said, "This facility, with its 20 MW of power, will allow us to put over 6,000 additional S19s into operation. It is expected to produce over 650 PH/s upon installation. Based on current difficulty rates, this processing power would result in an additional 5 to 6 bitcoins per day. This, along with our other initiatives, is expected to result in 2.0 EH/s by the end of 2021, which, at current difficulty rates would result in 17 to 18 bitcoin per day."

Bradford continued, "We have been working on a number of opportunities to increase our Bitcoin production capabilities, including energy expansion in Atlanta , our partnership with Coinmint, and now the purchase of this facility to increase the total energy capacity in our portfolio. We have over 23,500 S19 ASICS miners that will be delivered over the coming year-planning for responsible energy expansion has been paramount. Our focus on ESG has been at the forefront of all our efforts and we expect to lead sustainable practices in the industry. CleanSpark now directly owns and operates facilities that will bring a combined 70MW of 95%-plus carbon-free energy capacity, with the ability to further expand."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark
CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on solving modern energy challenges.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
(801) 244-4405

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-acquires-second-data-center-to-increase-bitcoin-mining-capacity-301352003.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 4, 2021 9:30 AM

CleanSpark Announces its Third Quarter 2021 Earnings Call Date and Time

SALT LAKE CITY, Aug. 04, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a clean Bitcoin mining and a diversified software and services company, today announced that it will hold the Company's third quarter 2021 live virtual earnings presentation and business update for investors and analysts on August 16, 2021 at 1 p.m. PST/4 p.m. EST.

To participate in our virtual meeting, please visit: https://globalmeet.webcasts.com/starthere.jsp?ei=1486534&tp_key=e7f1f1fab1

This URL can be used for live event or to watch the recorded version. A transcription will be available on our investor website after the event.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on solving modern energy challenges. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Aug 3, 2021 9:25 AM

CleanSpark Provides Updates on Bitcoin Mining and Energy Operations

CleanSpark Provides Updates on Bitcoin Mining and Energy Operations

Mining Hashrate Capacity Now Exceeds 740 PH/s, Daily Bitcoin Production Tops 6 BTC per day, Over 200 Batteries installed for Fire Prone CA Homes During the Month of July.

PR Newswire

SALT LAKE CITY , Aug. 3, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a clean Bitcoin mining and a diversified software and services company, today announced updates to a number of strategic initiatives related to its Bitcoin and Energy business units.

CleanBlok, the Company's Bitcoin mining division, now has over 7,500 of the latest generation mining units deployed with a hashrate capacity of over 740 PH/s, currently producing approximately 6 Bitcoin per day at today's difficulty rates.  Another 1,670 units, capable of producing approximately 148 PH/s or approximately 1.4 Bitcoin per day, have just been received and are expected to be installed this month.  Additional units are scheduled for delivery in late August. Upon deployment of these units, the Company expects to exceed a hashrate capacity of 1.0 EH/s, which would produce approximately 9.3 Bitcoin per day assuming current difficulty.  With a Bitcoin price of $40,000 and current difficulty rates, 1.0 EH/s would result in an annual run rate of $136 million of revenue, in the mining segment alone. CleanSpark expects to approach 2.0EH/s by the close of calendar 2021, and 3.2EH/s by the end of September 2022 .

The Company produced 147.8 Bitcoins during the month of July. Cumulatively, the company has mined more than 520 Bitcoins since entering the mining sector last December. The significant increase in production for the month of July was due to a substantial increase in the number of miners deployed over the past 30 days. In addition, the difficulty of mining has decreased sharply over the past two months resulting in increased production.

CleanSpark's Chief Executive Officer Zach Bradford stated, "We have experienced tremendous growth over a relatively short period of time, and we are very enthusiastic about the results. In just the month of July, we have already produced nearly 70% of the Bitcoins that we mined over the entire prior quarter, and we expect to continue to grow at a strong pace.  We're on track to receive over 20,000 additional miners over the coming 12 months."

CleanSpark's Bitcoins are mined using approximately 95% carbon-free energy.  The Company has a goal to achieve 100% carbon-free mining through the installation of an on-site microgrid featuring efficient solar and energy storage at its Atlanta facility, participation in renewable energy credit programs, and, as previously announced, CleanSpark plans to deploy its energy solutions at co-located facilities operated by Coinmint.  Upon deployment of its microgrid project in Atlanta , which is planned for 2022, the Company intends to showcase the facility's overall energy efficiency in a public-facing dashboard.

CleanSpark's energy and microgrid services business unit integrated over 180 batteries on more than 50 California locations during the month of July, a significant increase from the previous entire quarter's total residential battery installations of just 52. Unaudited revenues generated from residential energy solutions for the month of July was equal to 80% of total energy revenue for the entire quarter ended June 30, 2021 .

CleanSpark's Chief Revenue Officer and Energy Division President, Amer Tadayon , said, "Our strong balance sheet enabled us to resolve supply chain constraints, resulting in the delivery of more than 1,100 batteries to our facilities. The majority of our new integrations were for our neighbors in fire-prone communities throughout California . Our team has been able to install a number of residential systems providing critical energy resiliency for families with medical needs that require consistent and reliable power. We expect the momentum to continue through the current quarter and through the end of the year, with our contracted energy backlog now in excess of $20 million ."

The Company previously discussed the rollout strategy for its residential microgrid solution, mVoult.  The user application is now in late-stage testing for its inclusion to the Apple and Google app stores.  Advanced orders are now available in select markets.

Tadayon added, "Battery energy storage systems continue to be delivered to our warehouse on time and as expected and are being installed as rapidly as possible. Due to the growth of our California operations, the company recently relocated to a larger 12,704 square foot facility in Carlsbad.  The new facility includes offices, warehouse and training facilities.  We intend to install a full, mPulse-controlled microgrid in the coming months. This microgrid will allow us to demonstrate energy savings and optimization in real time to our partners, potential customers, and the general public."

The Company achieved its single largest revenue month in history in July.

CEO Bradford said, "Our growth has not been without its challenges, however. The Company successfully navigated the volatility of Bitcoin, managed supply chain constraints, and resolved a legal dispute.  Additionally, we were able to aggressively expand our sales and marketing efforts and increase our labor force for energy products."

"Also, CleanSpark, like all companies holding large amounts of digital currency, is required to measure impairment risks to the value of Bitcoin and other intangible assets pursuant to US accounting rules," Bradford said. "We are also required to value certain investments at the end of each reporting period.  As a result of market volatility in both Bitcoin and other investments last quarter, we anticipate reporting losses on the impairment of Bitcoin and recognizing unrealized losses on certain investments. We also incurred costs related to employee pay and stock-based compensation that were largely onetime events. These activities and other growth-based initiatives contributed to non-cash and one-time cash expenses last quarter that will have a negative impact on the reported results for the prior fiscal quarter."

"Despite the challenges of last quarter," Bradford added, "we believe our efforts will translate to a strong future and increased stockholder value. Our growing mining fleet, California's Self-Generation Incentive Program supporting energy storage, and our backlog of executed contracts of over $20 million should contribute to record growth continuing throughout the balance of 2021. We are really thankful for the support of our stockholders, suppliers and customers and look forward to a strong future."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark
CleanSpark, Inc., a Nevada corporation, is an energy technology and clean Bitcoin mining Company that is focused on solving modern energy challenges.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
ir@cleanspark.com

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-provides-updates-on-bitcoin-mining-and-energy-operations-301347086.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 15, 2021 9:30 AM

CleanSpark's 95% Carbon-Free Bitcoin Mining Division to Showcase at Mining Disrupt®

SALT LAKE CITY, July 15, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services and clean Bitcoin mining company, today announces its exhibition of CleanBlok at Mining Disrupt® on July 21st in Miami, Florida. CleanSpark is also a sponsor of this year's conference.

CleanBlok by CleanSpark is an Atlanta-based cryptocurrency operation running mostly on a carbon-free energy mix. Attendees are encouraged to visit CleanBlok's booth to learn how mining cryptocurrency responsibly can drive rapid ROI on energy investments while helping the planet. The Company's advanced energy software and microgrid control technologies enable energy optimization at mining centers and other power intensive operations. CleanBlok SVP Bernardo Schucman alongside other team members will be available for meetings during the event. Schucman brings more than two decades of experience as a world-renowned tech entrepreneur, consultant and blockchain engineer to the Company.

"Cryptocurrency mining is the critical support system for the blockchain and provides significant value for both the miners and the blockchain community. Mining operations can have a negative impact on the environment if non-renewables or inefficient practices are used. This is a big problem to solve, but we're well-suited to solve it with our unique and innovative microgrid solutions," says CleanSpark President and CEO Zachary Bradford.

For more information about CleanSpark's Bitcoin operation and to download a brochure, visit https://www.cleanblok.com/ . Mining Disrupt® tickets are available for purchase at https://miningdisrupt.com/ .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services. The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations/ .

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jul 14, 2021 6:29 AM

CleanSpark Announces Agreement with ESG-Focused Crypto-Miner, Coinmint

CleanSpark Announces Agreement with ESG-Focused Crypto-Miner, Coinmint

CleanSpark and Coinmint to Collaborate on Goal of Mining with Zero Carbon Footprint

PR Newswire

SALT LAKE CITY , July 14, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services and Bitcoin mining company, today announced that it has entered into an agreement with a new partner, Coinmint, pursuant to which it expects to deploy nearly 25 MW of its highly efficient Bitmain S19 Pro miners at a location operated by Coinmint.

CleanSpark plans to deploy approximately 750 PH/s in hashrate capacity at Coinmint's facility in Massena, New York between July and September 2021 . To support this hashrate, Coinmint has agreed to provide 25 MW of power, provide operations support and commit to 98% uptime. The Company expects this agreement to rapidly increase its overall hashrate across all Bitcoin mining locations to 1.2 EH/s upon installation and believes that it will allow CleanSpark to maximize its Bitcoin production while maintaining all aspects of the Company's ESG-based mining philosophy.

Coinmint operates the largest private digital currency data center in the world. The power is primarily derived from hydroelectric power, and, including all sources, achieves an energy mix that is 94% carbon-free. Coinmint is focused on all aspects of environmental, social and corporate governance ("ESG"); in addition to operating a site powered primarily by renewable energy, Coinmint focuses on sustainability and providing jobs within their community. Additionally, CleanSpark and Coinmint intend to collaborate on further expansion of their green energy initiatives, with a goal of reaching 100% renewable power.

Coinmint CFO Michael Maloney stated, "Space and power for mining is in high demand, but we choose our partners carefully, we selected CleanSpark as a partner due to their alignment on ESG and sustainable mining practices. Coinmint is uniquely positioned in the market to offer sizable amounts of energy and superior operational excellent to cryptocurrency miners focused on green energy.  We also are looking into to transforming the remaining 6% of non-renewable energy with onsite renewables and we believe CleanSpark is the right partner to help us achieve this goal.  Coinmint looks forward to working with their energy professionals and proprietary energy solutions to expand our renewable energy infrastructure."

CleanSpark President and CEO Zach Bradford added, "This is a very exciting opportunity for CleanSpark. We are pleased to align ourselves with a company that has a similar ESG approach and a strong history of performance as a mining service provider. We anticipate that this agreement will enable us to expedite the time to reach 1.2 EH/s. All of our recent shipments of mining rigs have arrived as agreed under our purchase agreements. Over the course of the next three months, we plan to redirect our shipments to the Coinmint facilities to maximize the contracted 25 MW of clean power. Once we have reached full allocated capacity under the Coinmint agreement, we will then direct shipments of the new units to our Atlanta facilities."

Mr. Bradford further commented, "The 30MW energy expansion of our wholly-owned facilities is progressing and will be finalized in the coming months to bring our Atlanta facilities to 50MW of total capacity. We intend to deploy miners to utilize the total available capacity in Atlanta with the units scheduled to arrive between September 2021 and January 2022 . Upon installation, CleanSpark's total deployed hashrate is expected to exceed to 2.1 EH/s. Due to the rapid exodus of Chinese miners, an industry-wide shift has taken place, and we believe that this is the perfect time to align with a partner to secure additional capacity to create flexibility and sustainability in our overall operations. This partnership is expected to provide us additional flexibility over time with a like-minded partner to continue the growth of our mining operations. We anticipate that this flexibility will allow us to continue to deploy capital on new facilities and power expansion. The CleanSpark energy team is excited by the opportunity to support Coinmint in achieving their goal of 100% carbon-free operations, an objective shared across all of our business units."

Since the acquisition of ATL Data Centers, CleanSpark has exceeded 470 PH/s in hashrate capacity, mined more than 410 Bitcoins, and is currently mining an average of more than four (4) Bitcoins per day. For more information about CleanSpark's Bitcoin operation, visit https://www.cleanblok.com/ .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

About Coinmint

Coinmint designs, builds and manages large-scale, secure and sustainable data centers across the United States . Since 2016, these centers have focused on the production of efficient computational processing power (or hash rate) as well as the creation of digital asset infrastructure - principally in the form of Bitcoin and other leading digital currencies. In 2017, Coinmint acquired the Alcoa East Facility to supply its 435 Megawatt mining center, making it the world's largest green digital currency data processor, based on capacity. Find out more at www.coinmint.one

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, operating results, business strategy, partnership with Coinmint, deployment of miners, digital currency mining activities, the growth of its facilities and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications; the fitness of the Company's energy hardware, software and other solutions for this particular application or market; the success of its digital currency mining activities; the expectations of future revenue growth may not be realized; ongoing demand for the Company's software products and related services; the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
(801) 244-4405

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-agreement-with-esg-focused-crypto-miner-coinmint-301333316.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 12, 2021 1:37 PM

CleanSpark CEO to Participate in Water Tower Research Fireside Chat

Company Executive Chairman Will Also Present in Renmark's Virtual Roadshow

SALT LAKE CITY, July 12, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services and clean Bitcoin mining company announced today that CEO Zach Bradford will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Wednesday, July 14, 2021 at 11:30 am EDT.

Topics covered are expected to include CleanSpark's increasing Bitcoin mining hashrate capacity, the positive impacts of decreasing Bitcoin difficultly, the impacts of China's bitcoin ban, the Company's carbon-neutral mining strategy. The conversation will be moderated by Shawn Severson, Water Tower's Head of Sustainable Investing. The chat is also expected to discuss industry topics like regulation, mining difficulty rate fluctuation, and relocation of Chinese mining companies.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay. The event is open for all.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1481172&tp_key=611d013677

Additionally, CleanSpark's Executive Chairman Matthew Schultz will be presenting at the Renmark Virtual Roadshow event on Thursday, July 15, 2021 at 12:00 PM EDT. Information about the event and registration can be found HERE .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its residential energy and microgrid initiatives, revenue expectations, the launch of its mVoult product line and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jul 7, 2021 9:30 AM

CleanSpark Updates Performance of Newly-Commissioned Southern California Microgrid

Solar and Storage Microgrid Project Delivers Significant First Month Energy Cost Savings

SALT LAKE CITY, July 07, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and bitcoin mining company, today announced the operating results of a microgrid project recently commissioned in San Diego. The Company and its wholly-owned subsidiary, Solar Watt Solutions, partnered with RSI Roofing on implementation of the solar-plus-storage microgrid system.

The microgrid project was designed for WS Display/San Diego Sign Company to provide economic optimization and cost avoidance, as well as cleaner energy for their facility. Once the energy systems were deployed, a 75-80% reduction in monthly energy costs was realized by the customer during the first month of operation.

To satisfy the preliminary requirements set forth by San Diego Gas and Electric (SDG&E) and the California Energy Commission (CEC) for NEM paired storage systems, CleanSpark's mPulse microgrid control system was tested and approved by a National Recognized Testing Laboratory (NRTL). Based on the testing results, SDG&E approved the mPulse platform not only to manage microgrid operations at the site, but also to export stored energy to the grid.

Additionally, because the location is directly adjacent to the Carlsbad Airport, a Federal Aviation Administration study was conducted to verify that flight operations were undisturbed as a result of the rooftop installation that included 1,200 solar panels. RSI Roofing, also a San Diego company, partnered with Solar Watt Solutions on this contract. The agreement included the installation of a new energy efficient roofing system that contains two layers of insulation and meets Title 24 energy efficiency standards mandated by the California Energy Commission. Currently at the site, CleanSpark's patented mPulse controls platform manages 482.4 KW rooftop solar panels and a 250KW/548KWH Battery Energy Storage System ("BESS") that was installed to help further reduce demand charges.

John Sawaya, RSI CEO, commented, "This is an example of a good combination of companies working together to achieve a goal and which far exceeded the customer's expectations in the end."

Eric Van Velzer, WS Display Principal and CFO said, "With the new program, we saw a reduction in our first month's power bill from the previous average of $13K to $15K down to just over $3K. We also realized significant savings on the cost of the microgrid with a 30% solar credit and battery incentive through SGIP. We plan for future expansion with additional backup power and storage for resiliency during power outages."

Zach Bradford, CleanSpark's Chief Executive Officer stated, "WS Display is a leader in providing high-quality trade show banners & displays whose operational costs were significantly decreased as a direct result of a smart-controlled microgrid provided by Solar Watt Solutions and CleanSpark. mPulse optimizes and directs the microgrid to provide resiliency during utility outages, and cost savings during normal operations. WS Display is also able to export energy from the battery to the utility grid to create greater savings." Adding, "CleanSpark is proud of the results the mPulse directed system has achieved. CleanSpark anticipates reoccurring revenues from ongoing software subscriptions."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services. The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the Company, please visit the Company's website at https://ir.cleanspark.com/ .

About Solar Watt Solutions:

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for residential or commercial projects.

Solar Watt Solutions helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. We help customers realize all the local, state, and Federal incentives, which make solar energy more affordable than ever before. Our customers can take pride in knowing that they are part of the solution, not the problem.  For more information, visit https://www.solarwattsolutions.com

About RSI Roofing:

RSI Roofing is a commercial roofing contractor based in San Diego, California. The company is locally owned and operated and has been in business since 1993. Services include commercial and multi-family re-roofing, roof maintenance, and emergency leak service and repairs. RSI Roofing is a leading partner in BOMA San Diego, CAI San Diego, IFMA San Diego, IREM San Diego, the San Diego Building Engineers Association, the San Diego Roofing Contractors Association, and the National Roofing Contractors Association. Visit https://thinkrsi.com/ for more information.

About WSDisplay:

Also known as San Diego Sign Company, WSDisplay is one of the leading providers of large format digital printed trade show displays in North America. They were founded in 2001 out of the owners garage, and incorporated in San Diego in 2005. The company has grown to over three facilities on both the west and east coasts. They have been named to the Inc 5000 Fastest Growing Companies in the U.S. list six times in a row from 2012 to 2017. For more information: https://www.wsdisplay.com/ and https://www.sdsign.com/

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its residential energy and microgrid initiatives, revenue expectations, the launch of its mVoult product line and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Jun 23, 2021 9:30 AM

CleanSpark Named to Russell 2000® Index and Welcomes Blockchain Expert Bernardo Schucman as Senior Vice President

Bernardo Schucman to Lead CleanSpark's Atlanta Bitcoin Mining Center as the Company Expands its Bitcoin Mining Data Operations

SALT LAKE CITY, June 23, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services and clean Bitcoin mining company, today announced that it is set to join the Russell 2000 ® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28. The Russell 2000 is a benchmark stock index comprised of 2,000 publicly-traded small-capitalization companies. The Company also recently appointed industry veteran Bernardo Schucman as the Senior Vice President of its Atlanta-based Bitcoin mining center.

As a new addition to the management team at CleanSpark, Schucman will oversee its Bitcoin mining and data center operations. He brings with him over seven years of Bitcoin mining and cryptocurrency data center operations experience and most recently served as the co-founder and CEO of both Fastblock and ATL Data Centers ("ATL") prior to ATL being acquired by CleanSpark. In addition to his cryptocurrency expertise, Schucman has more than 20 years of experience as a tech entrepreneur, software engineer and blockchain engineer in the U.S. and Brazil.

CleanSpark President and CEO Zachary Bradford says, "Bernardo has been consulting with the Company since we purchased ATL Data Centers. We are thrilled to officially welcome him and his wealth of experience to lead our Atlanta mining team as we continue to grow rapidly, profitably and as efficiently as possible. CleanSpark succeeded in its bid to purchase ATL last December because of CleanSpark's proven track record in energy, which is the backbone of cryptocurrency mining. We also shared a common belief with Bernardo on the importance of renewable and carbon free energy sources to support the future of the blockchain. Bernardo's impressive background and industry expertise will be an asset to the Company."

Mr. Bradford added, "CleanSpark's presence in the Russell 2000 ® index is another monumental moment that is a result of the considerable growth over the past year."

The Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000Ò Index or small-cap Russell 2000Ò Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

CleanSpark has now exceeded 400 PH in hashrate capacity and mined over 341 Bitcoin since the acquisition of ATL Data Centers. For more information about CleanSpark's Bitcoin operation, visit https://www.cleanblok.com/ .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press:
Trish DaCosta
KCD PR
Cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Jun 4, 2021 12:46 PM

CleanSpark Management to Appear in Water Tower Research Fireside Chat

SALT LAKE CITY, June 04, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and clean Bitcoin mining company today announced that CEO Zach Bradford and Executive Chairman Matt Schultz will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Monday, June 7, 2021, at 1:00 pm ET.

Topics covered will include the Company's recent partnership agreements, shelf registration, small-cap index rebalances and more. The conversation will be moderated by Shawn Severson, Water Tower's Head of Sustainable Investing. The chat is expected to also discuss CleanSpark's status as a founding member of "Think Microgrid" as well as new developments in the energy and Bitcoin business units.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay. The event is open for all.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1471287&tp_key=8a2ddff07a

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Jun 3, 2021 6:00 AM

CleanSpark Announces New Developments in its Microgrid Division

SALT LAKE CITY, June 03, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and clean Bitcoin mining company today announced that it had extended and expanded its contract manufacturing agreement with Pioneer Power Solutions, Inc., (Nasdaq: PPSI). The Company is also proud to announce its membership in Think Microgrid, a group of leading Microgrid and Energy companies, organized to advance state and federal policies.

'Think Microgrid' fills the need for a coordinated voice supporting the fast-growing microgrid sector in critical policy, legislative and regulatory discussions currently underway. More information can be found at Think Microgrid's website HERE .

CleanSpark's President and Chief Executive Officer, Zachary Bradford said, "We are excited and motivated to join Think Microgrid, a group that acts as an educational resource for policy makers and regulators on critical issues pertaining to energy generation, storage, distribution and management. The organization's stated goal is to help facilitate improvements to the domestic power grids, incorporation of renewables and distributed energy, bring cost savings to customers and stakeholders and increase the visibility of clean energy initiatives worldwide."

The Company also executed an updated Distribution Agreement with Pioneer Power Solutions, Inc. that extends and expands the relationship between the two companies through the end of 2023. As part of the new agreement, Pioneer Power has been granted expanded rights to utilize CleanSpark's proprietary software products, including mPulse and GridFabric's OpenADR solutions. Pioneer plans to bundle the solutions with PowerBloc, PPSI's integrated charging and power solution for EV (electric vehicle) infrastructure. In addition, CleanSpark has been granted expanded rights and opportunities to serve as a preferred distributor of the PowerBloc solution.

PowerBloc addresses the increasing demand from customers and government initiatives for large-scale electric charging capabilities that are cost effective and can be rapidly deployed. PowerBloc can grow with changes to a site allowing for easy plug-in of on-site solar, wind, peak shaving or back-up generation.

CleanSpark's Chief Revenue Officer, Amer Tadayon, stated, "The expanded partnership allows us to combine mPulse and GridFabric within multiple EV integrations for Pioneer Power. CleanSpark will also add PowerBloc to our microgrid solutions to assist both new and existing customers to affordably add EV charging across all of their targeted portfolio locations. Both initiatives are expected to drive new sales revenue for CleanSpark."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company's principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com

About Think Microgrid

The microgrid industry is at an inflection point. Proven technologies are being deployed in response to critical needs, such as resiliency and reliability in the face of wildfires. Most states, however, have not determined how microgrids will be incorporated into the physical grid and the market design. Think Microgrid will do more than address specific projects, utility proposals or critical situations. The organization will strive to cultivate new policy opportunities by engaging with government change makers even before they begin to consider action on microgrids. To learn more or become a member, visit www.thinkmicrogrid.org.

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jun 2, 2021 8:00 AM

Pioneer Power Introduces PowerBloc in Response to Industry Demand

Extends and Expands Relationship with CleanSpark;
Declares One-Time Special Cash Dividend of $0.12 per Common Share

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it has extended and expanded its agreement with CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark").

The Company also announced that it has launched a new integrated power systems solution, PowerBloc 1 , to address customer needs in the rapidly growing electric vehicle ("EV") charging infrastructure market.

In addition, the Company's Board of Directors has declared a one-time special cash dividend of $0.12 per common share. The special dividend will result in an aggregate distribution slightly exceeding $1 million based on the current number of shares outstanding.

Extends and Expands Distribution Agreement with CleanSpark

The Company signed a Distribution Agreement with CleanSpark, a diversified energy software, services and clean bitcoin mining company, that extends and expands the relationship between the two companies beyond their original agreement to the end of 2023. As part of this new agreement, Pioneer Power has expanded rights to use CleanSpark's proprietary software, mPulse and GridFabric OpenADR solution and bundle it with PowerBloc, Pioneer's integrated charging and power solution for EV infrastructure. In addition, CleanSpark received expanded rights to serve as a preferred distributor of PowerBloc.

Introduces PowerBloc, a Customizable 'Grid-on-a-Skid'

The introduction of PowerBloc, which is supported by further investment in product dedicated sales and engineering talent, marks a strategic pivot for the future direction of Pioneer Power. PowerBloc is a solution engineered in response to increasing requests by EV infrastructure providers for a rapidly deployable, and customized product.

In addition, PowerBloc provides future adaptability to an EV charging site allowing for easy connection of on-site solar, wind, peak shaving or back-up generation.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, "We are pursuing this new market opportunity with EV charging as a direct response to requests from EV charging equipment and service providers. Many large electric vehicle infrastructure projects require equipment and engineering knowledge to manage the scale and complexity of their power requirements. Our decades of experience designing, integrating, and managing highly engineered power solutions enabled us to develop PowerBloc, our ' Grid-on-a-Skid, ' as a direct response to the power challenges of the EV charging market. "

Dividend Declared

On June 1, 2021, the Company's Board of Directors declared a one-time special cash dividend of $0.12 per common share. The dividend will be paid on July 7, 2021 to shareholders of record as of June 22, 2021. The dividend will be funded with surplus cash on the Company's balance sheet.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company's principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com .

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services. The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. More information at www.cleanspark.com .

Safe Harbor Statement:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company's operating results, (iv) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (v) the Company's dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company's ability to realize revenue reported in the Company's backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company's chairman, who controls a majority of the Company's voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company's common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov . The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

1 Trademark Pending

Brett Maas, Managing Partner
Hayden IR
(646) 536-7331
brett@haydenir.com

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May 27, 2021 9:29 AM

CleanSpark Executes Partnership with FlowGen Adding Advanced Renewables to Business Portfolio

CleanSpark Executes Partnership with FlowGen Adding Advanced Renewables to Business Portfolio

CleanSpark and FlowGen Collaborate to Offer Advanced Wind Turbine Solutions Worldwide

PR Newswire

SALT LAKE CITY , May 27, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, and FlowGen Ltd. ("FlowGen") an international wind turbine technology company, based in Zug, Switzerland , today announced they have entered into a collaborative memorandum of understanding ("MOU"). Under the terms of the MOU, FlowGen has agreed to use CleanSpark's mPulse controls solution in all of its microgrid projects worldwide. In addition, CleanSpark was granted the exclusive distribution rights for FlowGen's advanced wind turbine solutions throughout North and South America.

The agreement is expected to benefit both companies through combining CleanSpark's industry leading software and controls technologies with FlowGen's proprietary system of highly advanced, wind-centric microgrid solutions. The companies believe that the blending of technologies will enable both enterprises to leverage engineering, design, modeling, software and controls strengths, to deliver reliable, efficient and resilient systems to their collective customer base as a result.

The parties are jointly marketing solutions featuring a hardware combination of FlowGen's wind turbine systems, solar, and battery energy storage systems (BESS). These solutions will be fully supported by CleanSpark's patented mPulse control platform to maximize power optimization and resiliency. FlowGen's goal is to implement cleaner renewable energy sources at sites that are currently powered by gas generators and other non-renewable energy sources.

FlowGen's innovation came from its founder and Chief Executive Officer Dirk Küster's extensive racing history leading, among others, Porsche's GT3 race team to achieve tremendous success on the track. Through Dirk's expertise in mass production processes, coupled with an award-winning team of experts from the motorsport aerodynamics, automotive and aerospace industries, FlowGen's revolutionary design, innovative engineering, and advanced analytical tools help achieve industry leading performance levels and efficiency. Their wind turbine systems can be incorporated into microgrids around the world in combination with solar, storage and other renewables. FlowGen's technology is extremely versatile as it is powerful enough for very large installations, but its small size and low weight also enable easy installation where space is restricted. Its focus on aerodynamic efficiency also allows it to provide power in areas where sustained wind-levels are lower.

FlowGen's CEO Dirk Küster said, "FlowGen's board of directors is very enthusiastic about this unique combination and believes it will provide value for shareholders of both companies. This agreement has significant strategic and financial benefits, and the combined companies are expected to be better positioned to anticipate and serve the needs of a global customer base in the highly competitive microgrid market."

Zach Bradford , CleanSpark's Chief Executive Officer stated, "This partnership further demonstrates the flexibility of our controls technologies. The partnership with FlowGen demonstrates mPulse's versatile capabilities with the addition of wind turbines. We believe this will expand the customer base for our offerings in areas less conducive to solar for distributed power generation solutions. Wind energy is a powerful resource that has the ability to enhance the operating characteristics of microgrids across a variety of applications. The profitability from our Bitcoin division continues to enable us to advance forward additional renewable energy sources to further improve the value of renewable energy solutions. Driving renewable energy technology advancement and adoption is key to our continued growth, and the results of these efforts are expected to positively impact all of our business units."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

About FlowGen:

FlowGen, a swiss-based clean power company, provides turnkey microgrid solutions combining its scalable small wind turbine systems with solar and storage

Parties interested in learning more about the company's products and services are encouraged to visiting the Company's website at https://www.flowgen.com/ .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: the successful deployment of FlowGen's wind turbine solutions for the United States and worldwide applications, the fitness of the FlowGen's wind turbine solutions for this particular application or market, delays in equipment and products availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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May 26, 2021 9:30 AM

CleanSpark Finalizes Purchase of ATL Data Center Real Estate

SALT LAKE CITY, May 26, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, today announced that it had completed the purchase of the six acre property which houses ATL Data Centers LLC and the 41,387 square foot data center building.

As a part of the transaction in December of 2020, CleanSpark acquired the existing Bitcoin mining 'mobile data centers' within the facilities. The Company is in the process of expanding the number of mobile units deployed on-site in support of its focus on maximizing value and minimizing operating expense. A purchase option for the building and site was included in the original lease agreement at closing, and the resulting purchase transaction was finalized May 20, 2021 at a price of $4.71M. Obtaining ownership of the property will save the Company over fifty thousand dollars per month in rent resulting in a reduction of overhead and expenses by more than 20% in our mining segment. The Company will leverage the additional acreage to add renewables on site and to maximize the value of its substantial power purchase agreement. Each of these steps are in support of the Company's disclosed intent to reach carbon neutrality at the facility in 2022, demonstrating what is believed to be the lowest cost/cleanest mix of any American Bitcoin miner operating at scale.

CleanSpark President and CEO Zach Bradford said, "Ownership of the real estate at the data center location provides the flexibility for expansion within the massive footprint of the property. The strategy will incorporate the addition of energy storage and renewables to the previously announced new facilities to be completed on site, the future home of CleanBlok." Adding, "We believe that these steps significantly enhance the net-asset-value of the facility, further adding to the benefit to all of our stakeholders."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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May 25, 2021 9:30 AM

Solar Watt Solutions and FAFCO Team Up To Expand CoolPV Solar Operations in Southern California

The partnership brings cost-effective renewable electric & thermal solar panels to Malibu, Santa Barbara and San Fernando Valley customers

CHICO, CA and SALT LAKE CITY, UT, May 25, 2021 (GLOBE NEWSWIRE) -- Solar Watt Solutions , a wholly owned subsidiary of CleanSpark, Inc (Nasdaq: CLSK), today announced a new partnership initiative with FAFCO, the nation's oldest and largest solar thermal manufacturer, to expand CoolPV Operations into Malibu, Santa Barbara and the San Fernando Valley in California. Solar Watt Solutions will increase solar and storage installations for its customers into the regions bringing cost-effective and sustainable backup energy solutions to Southern California homeowners.

Solar Watt Solution's customers can now access the company's sustainable methods of heating residential pools using renewable solar CoolPV panels provided by FAFCO. CoolPV, an enhanced solar electric system that provides improved electrical output and energy to heat pool water, utilizes a single panel that optimizes the homeowner's solar roof space. CoolPV customers generate 20 percent more energy with the solar electric system and thermal energy to heat the pool. Additionally, CoolPV captures four times more energy from the sun than a traditional solar electric system, resulting in significant cost savings for customers.

The United States' agenda to halve carbon emissions by 2030 coupled with the Federal solar tax credit program have driven up demand for affordable, residential energy solutions across the state. Solar Watt Solutions President, David Watt comments, "Renewable energy sources will be a critical part of reversing the damaging effects of climate change. Our conscientious customers are prepared to make the necessary changes to their homes in an effort to combat climate change for future generations. Solar Watt Solutions is helping California residents make significant strides toward these goals. Our partnership with FAFCO will enable us to support more homeowners by adding solar CoolPV systems that heat their swimming pools while providing significant cost savings on their monthly utility bill."

Since 2009, Solar Watt Solutions and FAFCO have increased solar and storage installations to San Diego, California residents. Solar Watt Solutions is the number one installer of CoolPV systems in the United States and FAFCO has been a leading provider of solar pool heating equipment for over fifty years.

"Homeowners across Southern California are eager to power their homes and heat swimming pools in the same roof space. Residents in Malibu, Santa Barbara and San Fernando Valley in particular, are driving up demand for our solutions, making this the perfect time to expand operations into these regions with Solar Watts Solutions," said Phil DelNegro, Chief Revenue Officer, FAFCO.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the website at www.cleanspark.com .

About Solar Watt Solutions

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for residential or commercial projects.

Solar Watt Solutions helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. We help customers realize all the local, state, and Federal incentives, which make solar energy more affordable than ever before. Our customers can take pride in knowing that they are part of the solution, not the problem.  For more information, visit https://www.solarwattsolutions.com

About FAFCO ®

FAFCO® is the nation's oldest and largest solar thermal manufacturer and has been producing solar water heating systems since 1969, with an installed base of 250,000 customers. Its products include solar thermal systems for homes, swimming pools and commercial applications, as well as thermal energy storage.  In 2015, FAFCO introduced and started selling and installing CoolPV® ( https://www.coolpv.com ) which is based on a US Navy contract and R&D begun at FAFCO in the late 1990's. All FAFCO products are made in the United States of America at FAFCO's headquarters in Chico, CA. To learn more about FAFCO, please visit https://www.fafco.com , or call (800) 994 - 7652.

About CleanSpark Inc.

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services. The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia. For more information about the Company, please visit the Company's website at https://ir.cleanspark.com/ .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its residential energy and microgrid initiatives, expected revenues, the launch of its mVoult product line and other statement regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Press Contact:

Trish DaCosta for CleanSpark

(619) 955-7759

cleanspark@kcdpr.com


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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May 25, 2021 9:00 AM

International Land Alliance and CleanSpark Provide Community Microgrid Update

Exclusive Agreement Provides Advanced Energy Solutions to ILA 's Plaza Bajamar

SAN DIEGO, CALIFORNIA, and SALT LAKE CITY, UTAH, May 25, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB: ILAL) , ("ILA"), an international land investment and development firm, and CleanSpark, Inc. (Nasdaq: CLSK ) , ("CleanSpark"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, are pleased to provide an update surrounding CleanSpark's advanced solar-plus-storage power solutions at ILA's Plaza Bajamar development.

CleanSpark serves as the exclusive partner for the engineering, design, development, and controls of all renewable energy solutions across ILA's property portfolio.

"Solar is the premier electricity solution for sustainable housing and a key differentiating component for our developments in Baja California," said Roberto Valdes, Chairman & Chief Executive Officer of ILA. "With CleanSpark at the forefront of the microgrid and renewable energy applications industry, they continue to be an ideal partner for ILA as we complete the installation of renewable solar solutions on our Merlot model homes at Plaza Bajamar. CleanSpark's team has been assisting ILA throughout the entire process, as we progress towards a self-sustaining community."

"CleanSpark has redefined energy infrastructure for residential homes across North America, providing cost-effective solutions that enable truly sustainable development," said Zach Bradford, Chief Executive Officer of CleanSpark. "We have already successfully deployed a microgid on ILA's model home and we are now moving to the next phase in which we will provide all of the units in ILA's Plaza Bajamar community with solar microgrid installations which will be supported by our software solutions. We have been pleased with the progress of this mutually beneficial agreement with ILA, even in the face of a global pandemic. Our contracted agreement represents significant revenue potential for CleanSpark and allows ILA to realize its goal of providing affordable, environmentally sound housing to the Baja California region."

The Plaza Bajamar community is located within the internationally renowned Bajamar Ocean Front Hotel and Golf Resort. The Bajamar Ocean Front Golf Resort is a master planned guarded and gated wine and golf community located 45 minutes south of the San Diego-Tijuana Border along the scenic toll road to Ensenada on the Pacific Ocean.

Pricing for this highly desired Merlot floorplan currently start at $199,000 with a variety of financing and payment options. Additionally, ILA is providing its shareholders a $10,000 promotional discount through the end of May 2021. Interested buyers and brokers are encouraged to visit: https://ila.company/plaza-at-bajamar/ . To speak to a sales representative and make an appointment to tour the community, contact Analo Valdes at sales@ila.company or (858) 900-8056.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About International Land Alliance, Inc.:

International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. As its' core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company .

About CleanSpark:

CleanSpark, Inc. (Nasdaq: CLSK), a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about CleanSpark, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Safe Harbor Statement

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: Expected sales of ILA' real estate portfolio, the successful deployment of CleanSpark's energy solutions for ILA's intended applications, delays in equipment and products availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of Cleanspark's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the CleanSpark's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 CleanSpark and ILA's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

CONTACT:
ILA Investor Relations:
Brooks Hamilton
MZ Group - MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us

CleanSpark Investor Relations:
S. Matthew Schultz
CleanSpark, Inc.
(801) 244-4405
IR@Cleanspark.com


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May 17, 2021 2:46 PM

CleanSpark to Participate in Water Tower Research Fireside Chat Series on CleanSpark's Bitcoin Mining and Enterprise Computing Initiative Towards Zero-Emissions

SALT LAKE CITY, May 17, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or "the Company"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, today announced that CEO Zach Bradford will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Tuesday, May 18, 2020, at 3:00 pm ET.

Topics covered will include the Company's bitcoin mining operation, the enterprise computing industry's need to manage its emissions, and CleanSpark's efforts to mine at or near zero-emissions. The chat will feature CleanSpark Chief Executive Officer Zach Bradford, and will be moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay. The event is open for all.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1464712&tp_key=5150a40e2b

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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May 13, 2021 6:00 AM

CleanSpark Acquires Additional S19-Pro Bitcoin Mining Rigs to Further Enhance Energy Initiative

CleanSpark Acquires Additional S19-Pro Bitcoin Mining Rigs to Further Enhance Energy Initiative

Fleet Upgrade Expected to Improve Replaced Bitcoin Mining Rig Efficiency by More Than 37%

PR Newswire

SALT LAKE CITY , May 13, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or "the Company"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, today announced the purchase of 2,400 additional S19-Pro rigs for delivery in the coming month to increase the overall hashrate efficiency of its mining fleet. The replacement of older-generation equipment is a strategic step in the Company's efforts to maximize energy efficiency in conjunction with its ESG focused approach to Bitcoin mining.

The new miners will be deployed immediately upon arrival at the Company's Bitcoin mining facilities outside of Atlanta, Georgia . These new units are expected to be delivered during the first week of June 2021 . Additionally, the Company has entered into an agreement to sell a portion of the replaced, prior generation rigs which consume more power and produce a much lower hashrate. CleanSpark anticipates that the exchange will decrease overall energy consumption approximately 1 MW while increasing corresponding production efficiency of the replaced equipment by over 37.5%.

The Company also expects to recognize a significant profit on the sale of the displaced units, most of which were purchased as part of the acquisition of ATL Data Center, LLC in December of 2020.

CleanSpark's Chief Executive Officer Zach Bradford stated, "This is an additional step in making our mining operation more efficient, which further aligns with our previously stated objective of operating all company-owned facilities at or near carbon neutral. We have publicly disclosed our current energy mix of 95% carbon-free power, at a fixed price of $0.0285 kWh. In the current climate, being sufficiently capitalized to secure and quickly install this additional order of highly sought after S19 Pro 110 TH/s units is a significant accomplishment. The 1 MW that will be made available as a result of the increased efficiency will now be used to power additional S19 units slated for arrival over the coming months. Additionally, because of the market and global increase in bitcoin prices and demand for rigs, we are able to sell our prior-generation, less-efficient models at substantial gains. This transition to the upgraded equipment is expected to increase our hash rate capacity to over 400 PH/s while using the same amount of power that we previously used to generate 330 PH/s. At current difficulty rates this improvement will increase our daily production by an estimated half of a bitcoin per day."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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May 6, 2021 7:20 PM

CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021

CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021

CleanSpark Achieves Profitability

Three-month revenue increased 122% to $8.1 million from one year ago quarter

Six-month revenue increased 124% to $10.4 million from one year ago period

PR Newswire

SALT LAKE CITY , May 6, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the three and six months ended March 31, 2021 .

The Company's Quarterly Report on Form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/ .

As previously announced, the Company will be holding its second quarter 2021 live virtual earnings presentation and business update for investors and analysts on May 7, 2021 at 8 a.m. PST / 11 a.m. EST .

To participate in our virtual meeting, please visit: https://globalmeet.webcasts.com/starthere.jsp?ei=1408452&tp_key=56b26c1000

This URL can be used to access the live event or to watch the recorded version. A transcription of the event will be available on our website after the event.

Financial Highlights

Three months ended March 31, 2021

  • CleanSpark more than doubled its comparable quarterly revenues, with three-month revenues of $8.1 million , an increase of $4.4 million or 122% from $3.6 million for the same prior year period.
  • Net income for the three months ended March 31, 2021 was $7.4 million or $0.28 basic earnings per share and $0.22 fully-diluted earnings per share compared to a loss of $(5.8) million or $(1.13) basic and diluted earnings per share for the same prior year period, an improvement of $1.41 basic earnings per share and $1.35 fully-diluted earnings per share.
  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net income for the three months ended March 31, 2021 of $1.7 million or $0.06 basic earnings per share and $0.05 fully-diluted earnings per share, compared to a loss of $(1.3) million or $(0.26) basic and diluted earnings per share for the same prior year period, an improvement of $0.32 basic earnings per share and $0.31 fully-diluted earnings per share.

Six months ended March 31, 2021

  • CleanSpark more than doubled its comparable six-month revenues, with six-month revenues of $10.4 million , an increase of $5.7 million or 124% from $4.6 million for the same prior year period.
  • Net income for the six months ended March 31, 2021 was $0.2 million or $0.00 basic earnings per share and $0.00 fully-diluted earnings per share compared to a loss of $(7.7) million or $(1.56) basic and diluted earnings per share for the same prior year period, an improvement of $1.56 basic earnings per share and $1.56 fully-diluted earnings per share.
  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net income for the six months ended March 31, 2021 of $1.0 million or $0.04 basic earnings per share and $0.03 fully-diluted earnings per share, compared to a loss of $(2.95) million or $(0.60) basic and diluted earnings per share for the same prior year period, an improvement of $0.64 basic earnings per share and $0.63 fully-diluted earnings per share.

Bitcoin Mining Production

  • In the quarter ended March 31, 2021, the Company produced more than 144 Bitcoins, and has produced an aggregate of 241 Bitcoins since acquiring its mining operations on December 10, 2021 through May 4, 2021 .

Balance Sheet Highlights as of March 31, 2021

Assets:

  • Cash: $157.2 Million
  • Digital Currency: $5.7 Million , or 115.2 Bitcoin
  • Total Current assets: $178.5 Million
  • Total Assets: $292.6 Million

Liabilities and Stockholders' equity:

  • Current Liabilities: $7.3 Million
  • Total Liabilities: $8.9 Million
  • Total Stockholders' Equity: $283.7 Million

Working capital

We had working capital of $171.1 million as of March 31, 2021 compared to $2.9 million as of September 30, 2020 , an increase of $168.2 million .

Operational Highlights - Quarter ended March 31, 2021

  • In March 2021 , the Company closed an underwritten public offering and received gross proceeds of $200 million , before deducting underwriting expenses and fees. This has been a catalyst to create significant growth. We have focused a large portion of the capital to expand our Bitcoin mining operations along with supporting our expanded sales and marketing initiatives for our Energy business.
  • Our project to add 30MW of additional power to support additional CleanSpark Bitcoin mining operations is ongoing. Upon completion of the project, this will bring the total power available for mining and data centers for CleanSpark subsidiaries from 20MW to 50MW. The capacity increase is underway and is expected to be complete by summer 2021. In addition to the 30 MW of additional power to be delivered by the local utility, CleanSpark expects to subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls.
  • We have seen rapid growth in our Electric Vehicle (EV) charging initiative, and we now have 11 Companies that are using our OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.
  • We implemented new sales and marketing initiatives resulting in increased sales and contracted backlog. Contracted backlog consists of executed and binding contracts that will result in future delivery of products and services. As of March 31, 2021 , our contracted backlog was $21.6 million . This backlog has continued to grow as we further expand our sales efforts and as of May 6, 2021 , our contracted backlog was $24.5 million .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or by visiting the Company's website.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the Company. The Company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA and Adjusted EPS is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CleanSpark management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the Company's core business operating results and those of other companies, as well as providing the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.

The Company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The Company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CleanSpark management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.



Three Months Ended



March 31, 2021


March 31, 2020

Net Income/(Loss) attributable to shareholders (US GAAP)

$

7,222,535

$

(5,815,098)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


2,147,834


674,587

Stock based compensation


849,015


273,931

Interest, financing charges, non-cash amortization of debt discounts


28,382


1,891,283

Unrealized (gain)/loss on equity security


(343,000)


210,000

Unrealized (gain)/loss on equity security


(8,400,629)


1,441,763

Non-cash amortization of right of use assets


154,596


10,995

Total:

$

(5,563,803)

$

4,502,559






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

1,658,732

$

(1,312,539)






Weighted average common shares outstanding - basic


25,925,259


5,135,802

Loss per common share - basic

$

0.06

$

(0.26)

Weighted average common shares outstanding - diluted


32,678,863


5,135,802

Loss per common share - diluted

$

0.05

$

(0.26)



Six Months Ended



March 31, 2021


March 31, 2020

Net Income/(Loss) attributable to shareholders (US GAAP)

$

55,005

$

(7,731,352)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


3,226,263


1,381,069

Stock based compensation


5,199,658


910,200

Interest, financing charges, non-cash amortization of debt discounts


29,721


3,451,598

Unrealized (gain)/loss on equity security


(269,500)


(158,868)

Unrealized (gain)/loss on equity security


(7,380,135)


(824,891)

Non-cash amortization of right of use assets


166,460


21,726

Total:

$

972,466

$

4,780,834






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

1,027,471

$

(2,950,518)






Weighted average common shares outstanding - basic


25,925,259


5,135,802

Loss per common share - basic

$

0.04

$

(0.60)

Weighted average common shares outstanding - diluted


32,678,863


5,135,802

Loss per common share - diluted

$

0.03

$

(0.60)

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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May 5, 2021 10:51 AM

CleanSpark Announces its Second Quarter 2021 Earnings Call Date and Time

SALT LAKE CITY, May 05, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today announced that it will hold the Company's second quarter 2021 live virtual earnings presentation and business update for investors and analysts on May 7, 2021 at 8 a.m. PST/11 a.m. EST.

To participate in our virtual meeting, please visit: https://globalmeet.webcasts.com/starthere.jsp?ei=1408452&tp_key=56b26c1000

This URL can be used for live event or to watch the recorded version.  A transcription of event will be available on our website after the event.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls, and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Apr 26, 2021 12:25 PM

CleanSpark CEO to Present at H.C. Wainwright Cryptocurrency, Blockchain, and Fintech Conference on April 27, 2021

SALT LAKE CITY, April 26, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced that CEO Zach Bradford will be presenting at the virtual H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference, Tuesday, April 27, 2021.

CleanSpark's CEO Zach Bradford will be a speaker during the Crypto Mining: Technology, Flexibility, and Sustainability Panel at 10:00 a.m. Eastern time. The panel will feature other Blockchain and Mining industry CEOs and experts. Bradford will also be available for meetings with institutional investors and analysts throughout the conference.

To attend the conference, or learn more, visit: https://hcwevents.com/crypto/#toggle-id-2

Also this week, CleanSpark Executive Chairman Matthew Schultz will be presenting on Wednesday, April 28 at RenMark's Virtual Roadshow Series for investors. The discussion will focus on CleanSpark's growth plans and Bitcoin mining operations in the first public speaking engagement since the Company announced $200M in additional funding.

REGISTER HERE: https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-nasdaq-clsk-2021-04-28-120000 The link will be available for replay after the event on CleanSpark's Investor Relations website, HERE .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations.

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Apr 19, 2021 8:00 AM

CleanSpark Announces $16.2 Million Increase in Microgrid Contracts, a 220% Improvement

CleanSpark Announces $16.2 Million Increase in Microgrid Contracts, a 220% Improvement

Company also Updates Bitcoin Production and Announces its Quarterly Earnings Release Date

PR Newswire

SALT LAKE CITY , April 19, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced an update on its business operating units, including microgrids, unaudited Bitcoin ("BTC") production and holdings through March 31, 2021 and April 18, 2021 .

Financial Update

CleanSpark expects to file its Quarterly Report on Form 10-Q for the Second Fiscal Quarter of 2021 on May 7 , 2021.  The Company anticipates that it will be holding an earnings call to discuss quarterly financial results, its outlook and updated guidance on the same day. CleanSpark will publish detailed call-in information under a separate release.

Microgrid Business Sales Update

  • As of April 18, 2021 , the Company's backlog of executed contracts has grown to over $23.5 million . Representing an increase of $16.2 million or 220% from $7.3 million , as mostly recently announced on February 12, 2021 .
    • Approximately, $14.3 million relates to the Company's residential microgrid and energy storage initiatives. The Company expects these microgrids to be completed over the next 12 months or less.
    • Approximately, $4.6 million relates to the Company's commercial and industrial microgrid and switchgear offerings. The Company expects these contracts to be completed over the next 18 months or less.
    • Approximately, $4.0 million relates to international microgrid development contracts. The Company expects these microgrids to be completed in a phased approach over multiple years.
    • Approximately, $0.6 million relates to the P2K software and services business. The Company expects these contracts to be completed over the next 12 months or less.

Amer Tadayon , CleanSpark's Chief Revenue Officer, stated, "We are very pleased with the results being generated by our sales and marketing teams. All of our efforts have begun to bear fruit, especially our residential initiative, which has been yielding incredible results."

Bitcoin Production and Operations Updates

  • In the quarter ended March 31, 2021 , the Company produced more than 144 Bitcoins and has produced 205 Bitcoins since acquiring its mining operations on December 10, 2021 .
  • As of April 18, 2021 , CleanSpark is holding more than 143 Bitcoins on its balance sheet, all of which have been produced by its mining operations.
  • Total hashrate capacity is expected to increase to over 1.1 EH/s by August 2021 and exceed 3.2EH by September 2022 .
  • At current difficulty rates, 1.1 EH/s would represent 6-7 Bitcoins a day and a hashrate at 3.2 EH/s it would represent 18-20 Bitcoins per day.
  • The growth from 1.1 EH/s to 3.2 EH/s is expected to occur at an average rate of 160 PH/s per month from September 2021 to September 2022 . At current difficulty rates, this would result in Bitcoin production increasing by approximately one additional Bitcoin per day every month.

CLSK Hash Rate Growth Schedule

The Company plans to continue to regularly provide Bitcoin operational updates and unaudited production results. These updates are intended to keep shareholders informed of CleanSpark substantial growth as it continues to deploy its expanding mining fleet.

Matthew Schultz , CleanSpark's Executive Chairman, stated, "From having 95% non-carbon-based electricity powering our mining operations, to our rapidly-growing partnership program, it's clear that our focus on an ESG-centered approach to growth continues to be validated.   Global events, from the recent power disruptions, taking Chinese BTC mining offline, to the massive, sustained outages in our own country have resulted in a significant increase in inquiries surrounding our microgrid and energy offerings as residential, industrial and commercial customers recognize the fragile state of the current power distribution model. Our recent financing transactions have positioned the Company to continue to make strategic, accretive moves, and we look forward to sharing the results with our shareholders."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, its goal to achieve carbon-neutrality, deployment of Bitcoin miners, the growth of the facility, the timing of completing contracted work, revenue expectations, Bitcoin mining production amounts, and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in mining equipment and battery energy storage systems availability and delivery, the price volatility and potential increase in difficulty rate of Bitcoin, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, the availability of clean energy sources, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services, future Bitcoin mining difficulty 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Apr 15, 2021 9:25 AM

CleanSpark Purchases 22,680 Additional Bitcoin Miners and Anticipates 3.2 EH/s Capacity After Deployment

CleanSpark Purchases 22,680 Additional Bitcoin Miners and Anticipates 3.2 EH/s Capacity After Deployment

PR Newswire

SALT LAKE CITY , April 15, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced that it has secured multiple contracts for mining equipment.

The Company has now secured contracts for all of the equipment necessary for CleanSpark's mining operation to increase its Bitcoin mining capacity to meet its stated objective of a total hash rate capacity of more than 1.1 EH/s by summer of 2021. Additionally, CleanSpark has now secured a total of 22,680 S19j Pro and S19 Pro Antminers for future delivery under annual contracts.  The Company contracted directly with Bitmain Technologies Ltd. for 7,200 Sj19 Pro Antminers and has executed two additional contracts with a premier cryptocurrency mining equipment dealer for a total of 15,480 S19j Pro and S19 Pro Antminers. These annual contracts are expected to provide an additional 2.23 EH/s in hash rate capacity. The units purchased under these contracts are expected to be delivered at an average rate of approximately 1,620 units per month over a 14-month period, with the first batch scheduled for delivery in August 2021 . The Company expects that these new units will enable CleanSpark to increase its total mining production capacity to over 3.2 EH/s, following the delivery and deployment of all the equipment.

Zach Bradford , CleanSpark's Chief Executive Officer, stated, "We are pleased to announce that we have secured mining equipment for more than 1.1 EH/s of Bitcoin mining production capacity for deployment this summer, which is a significant milestone for the Company. Time is money in this industry, and we wanted to ensure that we have both our immediate needs covered but we also wanted to look to the future to ensure we had a reliable baseline supply of future miner deliveries secured to support our long-term growth. In addition to these orders, we will continue to source miners on a periodic basis to further increase or upgrade our total mining capacity. The miners we have secured are expected to allow us to increase our total mining capacity ten times by mid-2022. As part of our expansion plans, we are actively evaluating multiple locations for additional expansion with a focus on sites supplied by clean energy sources."

Recently, CleanSpark announced that the energy mix for its Atlanta location is 95% carbon free, sourced primarily from nuclear, hydroelectric, solar and other renewables. These emission calculations are before any of the planned solar, storage and other clean energy assets are added to the site. The Company aims to achieve carbon-neutrality from its current cryptocurrency operations in the near future.

Mr. Bradford commented, "We believe that being a good corporate citizen is imperative and will continue to focus on the Company's environmental impact at future sites. We are already mining at scale with a very small carbon footprint and expect to have approximately 45MW of 95% carbon free power dedicated to Bitcoin mining under management by summer 2021, with hopes to achieve 98% carbon free mining in the coming months."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations.

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, its goal to achieve carbon-neutrality, deployment of Bitcoin miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, the availability of clean energy sources, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services, 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 26, 2021 9:25 AM

CleanSpark Purchases Bitcoin Mining Equipment and Infrastructure; Discloses Current 95% Carbon-Free Mining

CleanSpark Purchases Bitcoin Mining Equipment and Infrastructure; Discloses Current 95% Carbon-Free Mining

PR Newswire

SALT LAKE CITY , March 26, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced the order of 4,778 additional Bitmain S19 model Bitcoin mining rigs. The Company expects to receive 1,298 of the units for deployment in summer 2021 and the remaining 3,480 units in twelve equal monthly shipments starting in November 2021. These rigs are expected to deliver an estimated 740 PH/s of additional mining capacity. CleanSpark also purchased 48 custom-designed mobile mining data centers to house the units. The Company also updated current energy data on the carbon impact of its facility, progressing towards the stated goal of being the lowest energy cost, cleanest Bitcoin miner in the United States .

CleanSpark 's local power supplier provided data to the Company this week on the current energy mix provided to its facilities. The sources of power are comprised of nuclear power, hydro-electric power, and solar, resulting in 95% of the electricity utilized for mining to qualify as carbon-free, with only 5% of the supply provided by coal. Within the coming quarter, it is expected that 3% of the energy, currently provided from coal will be taken off-line and replaced with carbon-free sources, such as solar. As a result, the Company expects to be mining Bitcoin with more than 98% Carbon-Free power. CleanSpark plans to install onsite renewable microgrids to further reduce its carbon footprint with a goal of off-setting the remaining coal sources to effectively mine Bitcoin carbon-free.

CleanSpark currently operates Bitcoin mining rigs capable of processing approximately 315 PH/s within its Atlanta complex, and as previously announced, it intends to reach between 1.0 and 1.3 EH/s by the end of summer, 2021.

Zach Bradford , CleanSpark's Chief Executive Officer stated, " Matthew Schultz , Lori Love and I spent this week at our Atlanta, GA facilities, working alongside our team with electrical, engineering, procurement and construction professionals to ensure our growth plans are completed on time.  We're fortunate to have the available acreage to maximize the value of our unique power agreement in a region so conducive to carbon free power sources. With capital provided by the funding completed last week, we've focused aggressively on securing additional locations, miners, and facilities to rapidly expand our Bitcoin operations. The CleanSpark mining operations team is led by world-renowned operators, so identifying opportunities close enough geographically to leverage the knowledge base of our team has been a priority. We are extremely proud to have CleanSpark achieve what we believe to be the only Bitcoin miner to achieve 95% carbon-free operations at scale in the United States . We have a goal of pushing it further to achieve full carbon neutrality in the coming years."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://ir.cleanspark.com/ .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its energy initiatives, deployment of miners, the growth of the facility and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 18, 2021 11:26 AM

CleanSpark Announces Closing of $200 Million Underwritten Public Offering of Common Stock

CleanSpark Announces Closing of $200 Million Underwritten Public Offering of Common Stock

PR Newswire

SALT LAKE CITY , March 18, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark"), a diversified software, services, and bitcoin mining company, today announced the closing of its previously announced underwritten public offering of 9,090,910 shares of common stock at a public offering price of $22.00 per share for aggregate gross proceeds of approximately $200 million , before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

CleanSpark intends to use the net proceeds from the offering for working capital and general corporate purposes, including infrastructure expansion, the acquisition of additional cryptocurrency miners and further development of its mVoult product lines, as well as acquisitions or strategic investments in complimentary businesses, products, services or technologies.

An automatic shelf registration statement on Form S-3 (File No. 333-254290) relating to the securities was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 15, 2021 and became effective upon filing.  The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the automatic shelf registration statement.  Electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (212) 856-5711.

Katten Muchin Rosenman LLP served as legal counsel to CleanSpark in connection with the offering, Procopio, Cory, Hargreaves & Savitch LLP also represented CleanSpark in respect of matters relating to the offering, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to H.C. Wainwright & Co. in connection with the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  CleanSpark has a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia .

Forward-Looking Statements:
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations, beliefs, plans, intentions and strategies of the Company.  The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements.  Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, risks relating to the use of proceeds from the offering and other risks described in the Company's prior press releases and in its filings with the SEC, including under the heading "Risk Factors" in the Company's prospectus supplement and accompanying prospectus related to the offering and any other filings with the SEC.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.  Furthermore, the Company cannot guarantee future results, events, levels of activity, performance, projections or achievements.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 23, 2021 9:25 AM

CleanSpark Provides Residential Sales Update Following Solar Watt Solutions Acquisition

CleanSpark Provides Residential Sales Update Following Solar Watt Solutions Acquisition

PR Newswire

SALT LAKE CITY , March 23, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and bitcoin mining company, today announced that it has executed more than 50 new contracts under its residential initiative in less than one month following its acquisition of Solar Watt Solutions (Solar Watt). These additional CleanSpark and Solar Watt contracts for residential microgrids and battery energy storage solutions executed since February 24th have a face value exceeding $1,700,000 .

A substantial percentage of the new contracts are related to California's Self Generation Incentive Program (SGIP), which provides a rebate to homeowners in fire-prone areas to add energy storage backup systems. These rebate programs offset a significant portion of the purchase price of battery energy storage systems to provide critical power to homes in the event of a utility grid disruption. CleanSpark and Solar Watt are currently running co-branded marketing campaigns to educate homeowners on the availability of these incentives for home microgrids and battery backup systems. The Company's goal is to provide reliable power solutions in the face of expected and unexpected disruptions or in extreme weather situations for residential and commercial applications.

CleanSpark is actively delivering the existing pipeline of projects and, as discussed in a recent interview with NBC News, has experienced a ten-fold increase in residential microgrid inquiries. Additional marketing campaigns are expected to commence in support of both the Company's residential initiative, as well as the launch of the Company's planned mVoult software and controls solution.

Zach Bradford , CleanSpark's Chief Executive Officer stated, "Acquiring an existing partner was a deliberate move to further our reach into the residential markets as our cross-functional teams already had experience working together. This experience enabled us to decrease our collective teams relative 'learning curve' and accelerate our growth without missing a beat." Adding, "We intend to continue to be focused on SGIP in the near term as we continue our progress towards the planned launch of mVoult, CleanSpark's residential microgrid product line."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia.

For more information about the Company, please visit the Company's website at https://ir.cleanspark.com/ .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its residential energy and microgrid initiatives, revenue expectations, the launch of its mVoult product line and other statements regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation: delays in equipment and battery energy storage systems availability and delivery, the successful deployment of energy solutions for residential and commercial applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 15, 2021 9:57 PM

CleanSpark Announces Pricing of $200 Million Underwritten Public Offering

CleanSpark Announces Pricing of $200 Million Underwritten Public Offering

PR Newswire

SALT LAKE CITY , March 15, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark"), a diversified software, services, and bitcoin mining company, today announced the pricing of its previously announced underwritten public offering of 9,090,910 shares of common stock at a public offering price of $22.00 per share.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The gross proceeds are expected to be approximately $200 million , before deducting underwriting discounts and commissions and other offering expenses payable by the Company.  The offering is expected to close on or about March 18, 2021 , subject to satisfaction of customary closing conditions.

CleanSpark intends to use the net proceeds from the offering for working capital and general corporate purposes, including infrastructure expansion, the acquisition of additional cryptocurrency miners and further development of its mVoult product lines, as well as acquisitions or strategic investments in complimentary businesses, products, services or technologies.

An automatic shelf registration statement on Form S-3 (File No. 333-254290) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 15, 2021 , which became effective upon filing.  The offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the automatic shelf registration statement.  Copies of the final prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.  Before you invest, you should read the final prospectus supplement and accompanying prospectus and the other documents that CleanSpark has filed with the SEC for more complete information about CleanSpark and the proposed offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  CleanSpark has a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's public offering and other statement regarding the expectations, beliefs, plans, intentions and strategies of the Company.  The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements.  Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, risks that the proposed offering is not completed due to market conditions, failure to satisfy the conditions to closing of the offering or other factors and other risks described in the Company's prior press releases and in its filings with the SEC, including under the heading "Risk Factors" in the Company's preliminary prospectus supplement and accompanying prospectus related to the proposed offering and any other filings with the SEC.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.  Furthermore, the Company cannot guarantee future results, events, levels of activity, performance, projections or achievements.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 15, 2021 4:10 PM

CleanSpark Announces Launch of Underwritten Public Offering

CleanSpark Announces Launch of Underwritten Public Offering

PR Newswire

SALT LAKE CITY , March 15, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark"), a diversified software, services, and bitcoin mining company, today announced that it has commenced an underwritten public offering of shares of its common stock.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

CleanSpark intends to use the net proceeds from the offering, if completed, for working capital and general corporate purposes, including infrastructure expansion, the acquisition of additional cryptocurrency miners and further development of its mVoult product lines, as well as acquisitions or strategic investments in complimentary businesses, products, services, or technologies.

An automatic shelf registration statement on Form S-3 relating to the securities being offered was filed with the U.S. Securities and Exchange Commission (the "SEC") on March 15, 2021 , which became effective upon filing.  The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the automatic shelf registration statement.  Copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.  Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and the other documents that CleanSpark has filed with the SEC for more complete information about CleanSpark and the proposed offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  CleanSpark has a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facility outside of Atlanta, Georgia .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's public offering and other statement regarding the expectations, beliefs, plans, intentions and strategies of the Company.  The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements.  Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, risks that the proposed offering is not completed due to market conditions, failure to satisfy the conditions to closing of the offering or other factors and other risks described in the Company's prior press releases and in its filings with the SEC, including under the heading "Risk Factors" in the Company's preliminary prospectus supplement and accompanying prospectus related to the proposed offering and any other filings with the SEC.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.  Furthermore, the Company cannot guarantee future results, events, levels of activity, performance, projections or achievements.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 9, 2021 9:25 AM

CleanSpark Bitcoin Mining Division Secures Additional Miners to Further Increase Hash Rate

CleanSpark Bitcoin Mining Division Secures Additional Miners to Further Increase Hash Rate

PR Newswire

SALT LAKE CITY , March 9, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified technology company today announced an additional purchase of 1,150 new miners capable of producing 100 PH/s, scheduled for delivery in June 2021 .

The Company has now secured a total of 3,650 miners or 318 PH/s of additional Bitcoin mining hash rate capacity over the past two weeks for delivery and deployment in June and July 2021.  Those orders, along with the Company's current mining fleet, are expected to bring the Company's total hash rate up to an estimated 633 PH/s. The order and delivery dates for miners are on schedule with the Company's previously stated goals for expansion, targeted to reach 1-1.3 PH/s this summer.

Zach Bradford , CleanSpark's Chief Executive Officer stated, "We are excited about our growing production capacity as we push towards our goal of reaching 1.3 EH/s by the end of summer 2021. We are also eager to add renewable energy resources to our existing mining facilities later this year. In addition to increasing on the hash rate at our Atlanta facilities we are analyzing opportunities to further expand to additional locations that would be supported by clean energy."

CleanSpark's goal is to operate the lowest-energy-cost Bitcoin mining facilities at scale in the nation. The Company  will work to accomplish this not only by securing advantageous power purchase agreements, but also by leveraging its patented microgrid energy solutions.

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facilities outside of Atlanta, Georgia , currently capable of producing an estimated 315 PH/s in hash rate capacity.

For more information about the Company, please visit the Company's website at https://ir.cleanspark.com/ .

Forward-Looking Statements:

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's plans and expectations for expansion of its bitcoin mining operations (including as to increases in hash rates and utilization of low-cost energy sources) and other statement regarding the expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "target," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, , including, without limitation: delays in equipment delivery, the value of Bitcoin, the successful deployment of energy solutions for bitcoin applications, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release (including any forward-looking statements contained herein) to reflect events or circumstances after the date hereof.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Mar 2, 2021 9:35 AM

CleanSpark Secures Additional Bitcoin Miners for Delivery and Deployment Early Summer

CleanSpark Secures Additional Bitcoin Miners for Delivery and Deployment Early Summer

PR Newswire

SALT LAKE CITY , March 2, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified technology company today announced that it has secured for delivery an additional 2,500 ASIC mining rigs which are expected to provide an estimated 218 PH/s of Bitcoin mining hash rate capacity. The miners are expected to be delivered and immediately deployed throughout June and July 2021 .

cleanspark_Logo

The delivery dates are aligned with the Company's expected completion of energy and infrastructure projects that will provide an additional 30 MW of electricity to the site at a rate of $0.0285 /kwh. This order, along with the Company's current mining fleet, is expected to bring the Company's total hash rate up to an estimated 533 PH/s. CleanSpark expects to make further orders in the coming weeks to secure up to an additional 800 PH/s of mining equipment. The Company has developed a network of dealers and distributors outside of the traditional manufacturing supply chain to secure these additional miners for deployment as the Company's energy infrastructure increases become available.

Zach Bradford , CleanSpark's Chief Executive Officer stated, "We continue to aggressively pursue the growth of our hash rate capacity and expect to reach 1 to 1.3 EH/s in total production capacity this summer. 'Time is money' in this sector, and these orders allow us to immediately put the 30 MW of increased power into use as soon as it comes online." Bradford continued, "The availability of low-cost energy for bitcoin mining facilities will be a constraining factor for the industry as it grows. Cryptocurrency mining operations will further be subjected to increased scrutiny on the sources of the incredible amount of power required for successful execution and they will need to ensure that there is an ongoing focus utilizing clean energy sources to mitigate these concerns.  CleanSpark has maintained its focus on responsible energy solutions since the initial diligence phases of the ATL acquisition. Currently, the municipality providing our power is backed largely by a wholesale provider that reports delivery of power that is 69% emission-free. We plan to incorporate additional renewables onsite in the near future. In addition to maximizing the energy use of our existing facilities, we are targeting additional locations that offer access to abundant, low-cost power, with an emphasis on sites that are backed by clean energy sources and allow us the opportunity to integrate our proprietary renewable energy solutions onsite."

CleanSpark's goal is to operate the lowest-energy-cost Bitcoin mining facilities at scale in the nation. The Company expects to accomplish this not only by securing advantageous power purchase agreements, but also by leveraging its patented energy solutions.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions. CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation and implementation services, traditional data center services and software consulting services.

The Company and its subsidiaries also own and operate a fleet of Bitcoin miners at its facilities capable of producing an estimated 315 PH/s in hash rate capacity. Hash rate capacity is expected to increase to over 1 EH/s in mining capacity in 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 . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: delays in equipment delivery, the value of Bitcoin, the successful deployment of energy solutions for bitcoin applications, the fitness of our energy hardware, software and other solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content: https://www.prnewswire.com/news-releases/cleanspark-secures-additional-bitcoin-miners-for-delivery-and-deployment-early-summer-301238610.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 24, 2021 9:25 AM

CleanSpark Completes Strategic Acquisition of Solar Watt Solutions

CleanSpark Completes Strategic Acquisition of Solar Watt Solutions

PR Newswire

SALT LAKE CITY , Feb. 24, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software and services company, today announced that it has completed the strategic acquisition of Solar Watt Solutions, Inc. ("Solar Watt"), a Commercial and Residential Solar and Energy Storage Developer. Based on achievement of certain performance objectives, total consideration for the transaction will be up to 477,703 shares of the Company's common stock, and up to $3,850,000 in cash.

Solar Watt is a Carlsbad, California based company, founded in 2009 by David Watt . Solar Watt provides solar and alternative energy solutions for homeowners and commercial businesses throughout Southern California . The acquisition is expected to immediately expand and accelerate CleanSpark's residential initiative by integrating an experienced energy storage and solar sales and installation team.

Solar Watt has been focused on serving the fire prone communities throughout California by utilizing the Self Generation Incentive Program ("SGIP"), which provides homeowners who have medical needs and reside in vulnerable zones with the opportunity to add energy storage to their homes at little or no cost. The Company's mVoult ( mvoult.com ) product line for residential microgrids will provide opportunities for both companies to expand quickly throughout the state of California and beyond.

David Watt , Founder of Solar Watt, said, "We are extremely excited to join the great team at CleanSpark. With their products and resources behind Solar Watt, we will be able to expedite growth in the California area. We anticipate scaling up and, being able to offer new product lines while continuing to provide the excellent service our customers have come to expect, which is the foundation for our success."

CleanSpark's President and CEO, Zachary Bradford , stated, "Over the past year, we have been working with Solar Watt as a partner to strategically expand our collective sales efforts. As a result, upon closing our transaction to acquire Solar Watt, we added more than $10 million dollars of executed contracts to our backlog. This backlog immediately positions CleanSpark as a player in the direct-to-consumer California residential microgrid market. In addition to executing on their existing pipeline, Solar Watt will form the backbone of the Southern California team for CleanSpark's new residential mVoult product line. We will continue to devote our efforts to the one-to-many sales approach nationwide through partnerships with companies similar to Solar Watt, but this acquisition will allow us to rapidly scale mVoult and residential sales in Southern California where we have a local presence and a large sales footprint."

"This acquisition brings a significant pipeline to drive strong revenue growth immediately as part of our new residential initiative," said Lori Love , Chief Financial Officer of CleanSpark. "We anticipate that the acquisition will contribute approximately $20 million in revenue over the next 12 to 18 months and potentially more as we expand into additional territories with critical energy needs."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/ .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation services, and software consulting services.

CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 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 . For more information, visit https://ATL-DATA.com .

About Solar Watt Solutions:

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for residential or commercial projects. Solar Watt helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. Solar Watt helps customers realize all the local, state, and Federal incentives, including going green benefits, which make solar energy more affordable than ever before. Solar Watt's customers can take pride in knowing that they are part of the solution, not the problem. For more information, visit https://www.solarwattsolutions.com .

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in CleanSpark's business, including, without limitation: the successful integration of Solar Watt into CleanSpark, the closing of the transaction, the fitness of its energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in the Company's prior press releases and in the Company's filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-completes-strategic-acquisition-of-solar-watt-solutions-301234663.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 17, 2021 4:14 PM

CleanSpark to Discuss Fiscal Quarterly Earnings and Positive 2021 Outlook with Water Tower Research

SALT LAKE CITY, Feb. 17, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in the Water Tower Research Fireside Chat Series on Thursday, February 18, 2021, at 3:00 pm ET. Topics covered will include a review of the most recent quarter's performance and an update on the 2021 outlook. The Company's residential initiative, new partnerships, and the growth and performance of its Bitcoin mining operations will also be highlighted.

The chat will feature Zachary Bradford, CleanSpark's Chief Executive Officer, the host and moderator will be Shawn Severson, Head of Sustainable Investing at Water Tower Research. A brief question and answer session to follow.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1433315&tp_key=00dcc8225d

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary, ATL Data Centers LLC, CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 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. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in the Company's business, including, without limitation: the successful deployment of energy solutions for residential and commercial applications or other sectors, the value of Bitcoin, the ability of the Company's products to integrate with new or existing energy management assets or systems, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of the Company's future performance and future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for the Company's products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Feb 17, 2021 9:25 AM

CleanSpark Launches mVoult, a Direct-to-Consumer Residential Microgrid Solution

CleanSpark Launches mVoult, a Direct-to-Consumer Residential Microgrid Solution

PR Newswire

SALT LAKE CITY , Feb. 17, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software and services company, today announced the launch of mVoult ( mvoult.com ) for home microgrids. mVoult is a standalone energy management controller that is capable of directing the operations of both existing and new energy assets. mVoult will be offered as a smart controller and mobile app specifically designed for residential applications. The Company also plans to launch a fully integrated mVoult branded battery energy storage and controls solution. The home power solution will enable the selection of optional add-ons such as solar integration or back-up generators. The systems are expected to continue to support the Company's energy and vendor agnostic solutions. CleanSpark's residential microgrids will be capable of integrating into new or existing energy management assets or systems.

CleanSpark's smart controls technology has been used in commercial applications, as well as mission-critical military deployments for a number of years, and the Company has identified a growing need for a product like mVoult in the residential market. There has been a significant increase in demand from homeowners, especially in California , to add solar and storage solutions to provide backup power due to blackouts or utility outages due to wildfire risks and high electricity usage rates during heat waves. A home microgrid with a smart controller can provide significant flexibility in managing cost savings and resilience for the homeowner. With the expected expansion of government incentive programs under the Biden administration and the decreasing cost of energy assets, a home microgrid has become an even more viable option for homeowners to consider.

CleanSpark has already been offering mPulse to large and estate-sized residential microgrids. The launch of mVoult is expected to significantly expand the Company's reach into the residential market and create a product that has the ability to help benefit homes of all sizes. CleanSpark has already created and staffed a direct-to-consumer sales division over the past 30 days to support the Company and its partners' growth.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "With the massive power-outages across the country caused by both scheduled and unexpected utility disruptions over the President's Day weekend, the need for this solution has never been more critical. This is not our first foray into residential energy systems, but the focus on revenue growth in the home microgrid solutions is expected to make significant contributions to the Company's revenue mix. mVoult is built upon the same foundation as our patented mPulse controls technology which has been used in critical military and commercial applications."

mVoult.com was launched today as an informational website with the opportunity for homeowners to request updates and get on the waiting list for the mVoult solution. We expect to begin taking pre-orders for both the stand-alone controls and the fully integrated solution in April 2021.  Installations of the solution are expected to begin summer 2021.

"We have received significant interest in home microgrids and we are excited to offer a more affordable solution for both homeowners and small businesses", commented Bradford.  "We expect that mVoult will open a host of new opportunities. The Company plans to announce further strategic expansion into the home microgrid sector over the coming weeks."

Parties interested in learning more about CleanSpark's products and services, including mVOULT, are encouraged to inquire the Company by contacting info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary, ATL Data Centers LLC, CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 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 . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in the Company's business, including, without limitation: the successful deployment of energy solutions for residential applications or other sectors, the ability of the Company's products to integrate with new or existing energy management assets or systems, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of the Company's future performance and future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for the Company's products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 12, 2021 6:15 AM

CleanSpark, Inc. Reports Quarterly Financial Results for the Three-Months Ended December 31, 2020

CleanSpark, Inc. Reports Quarterly Financial Results for the Three-Months Ended December 31, 2020

Quarterly revenue increased 130% from one year ago quarter and gross margin improved to 41%

PR Newswire

SALT LAKE CITY , Feb. 12, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the quarter ended December 31, 2020 .

The Company's form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/

Financial Highlights

  • CleanSpark more than doubled its comparable quarterly revenues, with quarterly revenue of $2.26 million , an increase of 130% from $0.98 million for the prior year.

  • Gross Margin increased to 41% to $0.92 million compared to 10% and $0.10 million to the prior year.

  • Loss from operations increased to $6.2 million compared to $3 million for the prior year.

  • Net loss for the three months attributable to common shareholders for the three months ended December 31, 2020 was $7.2 million or $(0.32) per basic and diluted earnings per share compared to a loss of $1.9 million or $(0.40) per basic and diluted earnings share for the same year-ago period, an improvement of $0.08 per share.

  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss attributable to common shareholders for the three months ended December 31, 2020 of $591,975 or $(0.03) per basic and diluted earnings per share, compared to a loss of $1,765,826 or $(0.37) per basic and diluted earnings share for the same year-ago period, an improvement of $0.34 per share.

  • The Company decreased its revenue concentration risk, for the three months ended December 31, 2020 37% of its revenues were derived from a single customer as compared to 91% in the same year-ago period.

Financial Summary

Revenues

The Company recognized $2.25 million in revenues during the three-months ended December 31, 2020 , as compared with $0.98 million in revenues for the three-months ended December 31, 2019 .

For the year ended December 31, 2020 and 2019 our revenue was derived from three business segments:

Energy Segment - Consisting of our CleanSpark, LLC, CleanSpark Critical Power Systems, Inc. and GridFabric, LLC lines of business, this segment provides services, equipment and software to the energy industry. The income from our Energy Segment is the result of contracts to sell switchgear equipment, perform engineering and design services, and provide software for distributed energy and microgrid systems.

Digital Agency Segment - The Company's wholly owned subsidiary p2klabs, Inc. provides design, software development and other technology-based consulting services.

Digital Currency Mining Segment - Through ATL Data Centers, the Company mines Bitcoin

Our Energy business segment contributed $1.2 million or 54% of consolidated revenue in three-months ended December 31, 2020 , compared to $0.93 million or 100% of consolidated revenue in the same year-ago period.

The Company's digital agency segment generated services revenue from our p2klabs subsidiary. This segment contributed $0.3 million or 13% of consolidated revenue in three-months ended December 31, 2020 .

The Company's Bitcoin mining segment generated revenue from our ATL Data Center subsidiary. This segment contributed $0.73 million or 32% of consolidated revenue in three-months ended December 31, 2020 .

Gross Profit

Our gross profit for the three-months ended December 31, 2020 was $0.92 million or 41% of revenue, as compared with gross profits of $0.09 million or 10% of revenue for the three-months ended December 31, 2019 . The increase in gross margin was largely driven by increased high-margin revenues derived from our Bitcoin mining and related revenue.

Operating Expenses

Our operating expenses for the three-months ended December 31, 2020 increased to $7.1 million from $3.1 million for the same period in 2019. The increase in operating expenses was largely driven by increased non-cash compensation, payroll expenses, general or administrative expenses, and increased depreciation and amortization.

Other income/(expense)

The Company's total other income/(expenses) in the three-months ended December 31, 2020 totaled approximately $(1.0) million as compared to $1.1 million in 2019. The increase in other expenses was mainly due to non-cash cash items, specifically our derivative loss and unrealized loss on equity securities.

Earnings/(Loss) Per share

Net loss for the three months attributable to common shareholders for the three months ended December 31, 2020 was $7.2 million or $(0.32) per basic and diluted earnings per share compared to a loss of $1.9 million or $(0.40) per basic and diluted earnings share for the same year-ago period, an improvement of $0.08 per share.

Non-GAAP figures

Adjusted EBITDA, a non-GAAP term, resulted in negative $0.6 million in three-months ended December 31, 2020 , as compared to negative $1.7 million in three-months ended December 31, 2019 .

Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss attributable to common shareholders for the three months ended December 31, 2020 of $591,975 or $(0.03) per basic and diluted earnings per share, compared to a loss of $1,765,826 or $(0.37) per basic and diluted earnings share for the same year-ago period, an improvement of $0.34 per share. (See details on Non-GAAP figures below)

Working capital

Cash and cash equivalents totaled $25.6 million as of December 31, 2020 , as compared to $3.1 million on September 30, 2020 , an increase of $22.5 million . We had working capital of $28.7 million as of December 31, 2020 compared to $2.9 million as of September 30, 2020 . An increase of $25.8 million .

Fiscal Quarter December 31, 2020 Operational Highlights

  • On October 9, 2020 , the Company closed an underwritten offering and received gross proceeds of $40 million , before deducting underwriting expenses and fees.

  • We completed the acquisition of ATL Data Center in an all-stock transaction. The Company has contracted with the local municipality to bring 30MW of additional power to a property adjacent to ATL property to support additional CleanSpark Bitcoin mining operations.  This will bring the total power available for mining and data centers for CleanSpark subsidiaries from 20MW to 50MW. The capacity increase is underway and is expected to be complete by mid-year 2021.  In addition to the additional power to be delivered by the local utility, CleanSpark expects to subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls. The Company intends to use the renewable energy to further increase its total energy capacity to support additional ASIC (application specific integrated circuit) mining units and increase bitcoin mining revenues.

  • We entered into the Electric Vehicle (EV) charging station market through a new initiative focused on providing OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.

  • We implemented new sales and marketing initiatives resulting in increased revenues, contracted backlog, and proposal pipelines.

  • We received a large switchgear order from a Houston, Texas developer in support of microgrids to be built for the nation's largest retail chain.

  • CleanSpark's strong presence at virtual conferences included Platinum Sponsorship at Microgrid 2020 Global, Exhibition at the Solar Power International, and speaking engagement by Amanda Kabak , CleanSpark CTO on "The Benefits of Solar plus Storage".

  • The CleanSpark team released a suite of usability enhancements to both their mPulse and mVSO products, including self-serve reporting of monthly and ad-hoc site telemetry as well as improvements in mVSO ease of use to allow developers to completed scenarios quickly and more efficiently. Updates to our mPulse forecasting and control algorithms ensures optimal site operation aligned with pre-determined targets. CleanSpark continues to grow its software team with specialists in web and cloud development.

Management-Commentary and Outlook

This was another record-breaking quarter for CleanSpark.  As we had discussed in our prior shareholder letter, the Company expected the somewhat cyclical nature of our business to continue, specifically related to our energy business segments.  In prior years we have recognized approximately 10% of our total annual revenues in the quarter ending December 31 . This trend has continued to be reflected in the results of our most recent fiscal quarter. These trends are largely due to the annual holiday slowdown and winter weather as energy systems are more easily deployed in warm weather. We continue to expect to see the strongest revenues related to our energy segments in our third and fourth fiscal quarters.  Our Bitcoin mining revenues contributed significant profitable revenue for the quarter, making up approximately 32% of our total quarterly revenues. This is especially meaningful considering our Bitcoin mining revenues consisted of only 21 full days of mining in December. We expect to recognize substantially more revenue from Bitcoin mining revenues in future quarters both as a result of recognizing revenues from the full period, but also due the expanded capacity expectations from approximately 200 PH/s in December to more than 315 PH/s in February 2021 .

We continue to expect to generate in excess of $30 million in total revenue in the fiscal year ending September 30, 2021 . Our backlog as of today remains strong at approximately $7.3 million as of the date of this release, an increase of $0.8 million from December 2020 .  This increase is directly attributable to our newly expanded sales team.  We expect our proposal closing rate to accelerate as COVID-19 vaccines begin to be made available to the public in the coming quarters. Our proposal pipeline remains strong at approximately $25.0 million as of the date of this release.  We believe our increase in contracted backlog and proposal backlog demonstrates the pent-up demand for resilient, distributed energy solutions as the pandemic begins to improve.

We continue to work diligently to expand the Company's total energy capacity and Bitcoin mining capacity. We expect to reach more than 315 PH/s within the month of February. We also expect to have the initial power capacity increase completed over the next two quarters and anticipate bringing additional mining equipment online in parallel with the available power.  We believe the improvements will add an additional 800 to 880 PH/s of processing capacity over the coming quarters. We expect this to bring the total capacity under CleanSpark's subsidiaries to between 1.0 to 1.3 EH/s by mid-summer.  Given the current difficulty rates, this is expected to result in the production of 6-9 Bitcoins per day.  At the current price of Bitcoin ($47,000) this would result in $115 to $150 million per year in Bitcoin mining revenue.  As stated, our goal is to mine Bitcoins at the lowest rates nationwide and we expect to achieve greater than 80% gross profit margin on our Bitcoin mining activities.

We are also expanding our residential initiatives, including the launch of a new offering which we look forward to discussing in greater detail next week.

Our focus continues to be on increasing our sales in each of our segments, enhancing the features and functionality of our software products as well as our aggressive pursuit of additional accretive acquisitions.

We remain deeply grateful for the continued support of all stakeholders of CleanSpark, most importantly, the shareholders who have entrusted the Company with their investment dollars. On behalf of our entire organization, we provide this update and outlook with extreme optimism for the future.

With Warmest Regards,

Zachary Bradford , CleanSpark's President and Chief Executive Officer and

Matthew Schultz , CleanSpark's Executive Chairman.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 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 . For more information, visit https://ATL-DATA.com

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the company. The company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense, unrealized gains and losses on securities, non-cash amortization of right of use assets, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CLSK management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the company's core business operating results and those of other companies, as well as providing the company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.


The company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CLSK management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.




December 31,
2020


December 31,
2019

Net loss (US GAAP)

$

(7,167,530)

$

(1,916,254)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


1,078,429


587,490

Software amortization


39,286


39,286

Stock based compensation


4,350,643


636,269

Interest, financing charges, non-cash amortization of debt discounts


1,339


1,560,315

Unrealized gain/(loss) on equity security


73,500


(368,868)

Unrealized gain/(loss) on derivative security


1,020,494


(2,266,654)

Non-cash amortization of right of use assets


11,864


10,731

Total:

$

6,575,555

$

198,569






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(591,975)

$

(1,717,685)

Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. CLSK management believes that exclusion of certain selected items assists in providing a more complete understanding of the company's underlying results and trends and allows for comparability with its peer company index and industry. CLSK management uses this measure along with the corresponding GAAP financial measures to manage its business and to evaluate the company's performance compared to prior periods and the marketplace. The company defines Non-GAAP (loss) income attributable to common stockholders as (loss) or income before amortization, stock-based compensation, expenses related to discontinued operations, impairment of long-lived assets and non-cash financing, unrealized gains and losses on securities, non-cash amortization of right of use assets and non-cash interest expense. Adjusted EPS expresses adjusted (loss) income on a per share basis using weighted average diluted shares outstanding.

Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The company expects to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from the company's presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

The following table sets-forth non-GAAP net loss attributable to common stockholders and basic and diluted earnings per share:



December 31,
2020


December 31,
2019

Net loss (US GAAP)

$

(7,167,530)

$

(1,916,254)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


1,078,429


587,490

Software amortization


39,286


39,286

Stock based compensation


4,350,643


636,269

Non-cash interest, financing charges, non-cash amortization of debt discounts


1,339


1,512,174

Unrealized gain/(loss) on equity security


73,500


(368,868)

Unrealized gain/(loss) on derivative security


1,020,494


(2,266,654)

Non-cash amortization of right of use assets


11,864


10,731

Total:

$

6,575,555

$

150,428






Non-GAAP Adjusted Loss

$

(591,975)

$

(1,765,826)






Weighted average common shares outstanding - basic and diluted


22,146,992


4,781,075

Loss per common share - basic and diluted

$

(0.03)

$

(0.37)

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, the successful and continued integration of acquired businesses, ongoing demand for its software products and related services, the price volatility of Bitcoin, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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Feb 9, 2021 9:25 AM

CleanSpark Issues Bitcoin Mining Expansion Update

CleanSpark Issues Bitcoin Mining Expansion Update

PR Newswire

SALT LAKE CITY , Feb. 9, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today provided a 60-day post-acquisition update on its Bitcoin mining operations and announces that it expects to further increase its Petahash rate in February 2021 , beyond prior projections.

CleanSpark has continued to procure and deploy mining equipment as part of its strategic growth initiative, purchasing its equipment mostly through dealer networks rather than directly through the manufacturers to ensure immediate availability. Orders for new mining equipment continue to be delivered in multiple shipments and are promptly commissioned as they arrive. Prior to the end of February, the Company expects to have in excess of 315 Ph/s of Bitcoin mining capacity deployed.  This will represent a greater than 65% increase in mining capacity since the December 10, 2020 acquisition.

CleanSpark has focused on increasing energy capacity in conjunction with the expanding mining capacity as it continues to progress toward its goal of mining at the lowest cost of energy for any domestic Bitcoin mining operation. Energy costs and power capacity, factored with the overall environmental impact of mining operations will become increasingly important as difficulty levels increase, and greenhouse gas emissions are more strictly regulated under the Biden administration.  In light of companies like MicroStrategy, PayPal, Square and Tesla making substantial investments into Bitcoin, demand is expected to increase which will certainly invite scrutiny surrounding the single biggest factor in mining operations that support the blockchain--energy.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "With companies such as Tesla making large strategic investments in Bitcoin, we believe the validation as a currency has only just begun. CleanSpark has been focused on increasing mining capacity but this hasn't changed any of the long-term plans for renewable energy implementation and deployment of our technologies and solutions to further decrease power costs."  Adding, "The mining capacity that is expected to be fully online by month-end should rival many of the 'pure play' publicly traded mining companies 'actual' deployed mining capacity. While other companies have focused on pre-ordering machines, we have focused on putting available capacity immediately to work."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 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 . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the value of Bitcoin, the successful deployment of energy solutions for bitcoin applications, the fitness of our energy hardware, software and ither solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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Feb 3, 2021 9:25 AM

CleanSpark Announces Multi-Unit Switchgear Order for Commercial Microgrids

CleanSpark Announces Multi-Unit Switchgear Order for Commercial Microgrids

PR Newswire

SALT LAKE CITY , Feb. 3, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that it has received a new purchase order from a Houston, Texas -based microgrid developer. CleanSpark has provided its ATS (automatic transfer switch) solutions to the developer and its customers for several years.

World's Largest Retailer to Deploy CleanSpark's Microgrid Switchgear.

The Company's switchgear units will be deployed alongside energy generation assets to provide resilient power and cost savings. The end-use customer is the world's largest retail chain, operating more than 11,500 locations worldwide. CleanSpark's ATS paired with other microgrid assets will help keep stores operational during utility outages.

This purchase order is expected to result in more than $1,500,000 of additional revenue for the Company.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "We are excited to continue to provide switchgear to support custom microgrid solutions for critical back-up power.  With the increasing frequency of grid disruptions, natural disasters and scheduled power-outages, the number of businesses relying on microgrids continues to rise. We anticipate additional switchgear orders from this customer and other partners, both as a result of the aforementioned events, as well as 'green' initiatives supported by the new administration that should pave the way for increased microgrid development."

Bradford concluded, "We believe the combination of our patented energy solutions together with our Bitcoin mining division, make us a true 'dual-threat' as we continue our rapid growth across all of our divisions. This order is a result of our focus on 'best-in-class' solutions, whether they result from hardware, software, residential or commercial initiatives. CleanSpark's unique approach to energy solutions are expected to continue to drive strong demand throughout our partnership networks. Recent announcements discussing our platform upgrades and additional distribution of our GridFabric software solutions are examples of this increased demand for our products and services."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 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 . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions for retail applications or other sectors, the fitness of our energy hardware, software and ither solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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Jan 28, 2021 9:25 AM

CleanSpark's GridFabric Completes OpenADR Certification for EV Charging Company, KIGT

CleanSpark's GridFabric Completes OpenADR Certification for EV Charging Company, KIGT

PR Newswire

SALT LAKE CITY , Jan. 28, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced that its wholly-owned subsidiary, GridFabric has completed the process of OpenADR certification for KIGT, Inc. KIGT is an electric vehicle (EV) charging, software and technology company focusing on charging stations and related software for commercial, fleet, and residential vehicles.

CleanSpark's EV Charging Solutions Set to Deploy Across California, Hawaii .

KIGT's charging platform and proprietary software have now been added to the official list of OpenADR certified products. The list of entities having achieved certification, including KIGT, can be found at https://products.openadr.org/product/kigt-inc-kigt_ven/

KIGT, an Ontario , California based firm, was founded as a reseller of EV charging equipment more than a decade ago. The principals of the company identified a need within the electric vehicle sector for a more efficient, faster charging and affordable solution. The team at KIGT successfully launched a proprietary platform and began manufacturing their own products in 2014. This Open ADR certification will enable KIGT to enter new markets, participating alongside other, older EV charging companies in serving entities including major California Utilities and HECO (Hawaiian Electric Company, Inc.).

We believe the electric vehicle market is poised for exponential growth. According to McKinsey & Company, "With consumer focus shifting towards sustainability, it is anticipated that expenditure on electric vehicles will double over the next 5 years."

Paul Francis , Co-Founder of KIGT, said of the announcement, "OpenADR certification will be a key driver for our growth in 2021, allowing us to work with leading utilities' demand response and incentive programs. GridFabric made the process easy, as we were able to become fully certified much quicker and at a significantly lower cost than attempting the certification process alone."

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "GridFabric's Plaid product is one of the fastest ways for a company like KIGT to achieve full OpenADR certification across their platform. This process allows them to participate in utility load shifting programs, rapidly. Alternatively, the process of achieving certification without this program can result in months-long delays and substantial capital expenditures. This project is yet another successful deployment of GridFabric's unique offering within the broader EV charging industry." Adding, "GridFabric, has continued to expand its network of customers since its acquisition by CleanSpark in 2020. Following President Biden's remarks this week committing to the replacement of the entire Federal fleet with electric vehicles, we believe the focus on rapid certification of EV charging systems is poised to accelerate over the course of the coming years."

Executive Chairman Matthew Schultz will also be speaking today, January 28 th at 12pm Eastern at the RenMark Virtual Roadshow.  To view the live presentation, CLICK HERE .  A recording will be available on the Company investor website a few days after the presentation.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's websites at www.cleanspark.com or www.gridfabric.io .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About KIGT Inc.
KIGT is an Electric Vehicle Supply Equipment (EVSE) Manufacturer that also creates the operating software. KIGT helps Plug-in Car Drivers save time and money by providing faster charging for home, workplace, public and fleet with software that makes it easier to manage fueling and energy expenses.  Learn more at https://kigtinc.com

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions in the electric vehicle or other sectors, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

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Jan 26, 2021 9:25 AM

CleanSpark Announces Enhancements to mVSO Energy Modeling Software

SALT LAKE CITY, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced a release upgrade to its mVSO, microgrid Value Stream Optimizer. mVSO is CleanSpark's microgrid planning and proposal software for energy, solar, and storage developers as well as EPC firms (Engineering, Procurement and Construction).

The latest release to mVSO includes significant enhancements to all customer-facing reports and financial analyses. Report interfaces have been redesigned from the ground-up to provide clear, concise, and compelling graphics and tables to help project developers collaborate with their customers to identify the optimal solution to meet their needs. From top-level financial metrics across a 20-year project lifetime to sample operational charts with 15-minute resolution, every aspect of the proposed microgrid is described and explained in terms the most non-technical customer can understand. These clearly defined outcomes are an invaluable tool in growing the sales channels for all types of energy providers, especially with the recent impetus on expansion of renewable energy initiatives under the new Administration.

mVSO can now seamlessly ingest outputs from a variety of other renewable energy related software, including Helioscope, PVSyst, and PVWatts modeling systems. The software continues to accept custom rate structures as well as hourly interval data in simple Excel and CSV file formats.

CleanSpark Chief Technology Officer, Amanda Kabak said, "We made these significant improvements not only based on feedback from our current users, but also on our own modeling experience during direct sales of our mPulse controller. We have crafted the outputs to accurately tell a story that addresses capital expenditure and return, utility consumption, detailed savings breakdown, and the interplay of the different distributed energy resources within the microgrid itself."

Kabak added, "In addition to improved reporting, mVSO now supports integrating with externally modeled solar data. This request arose from current and potential customers to expand their offering processes. Many of our mVSO customers are experienced solar project developers having numerous existing-and complementary-tools at their disposal."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation the successful deployment of our energy solutions, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Attachment


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Jan 21, 2021 1:53 PM

CleanSpark Investigating Short Seller Culper Research

CleanSpark Investigating Short Seller Culper Research

PR Newswire

SALT LAKE CITY , Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or "the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, has become aware of a report making false accusations against CleanSpark and its officers.  The publisher of this false report is an unknown entity or group hidden behind the facade of "Culper Research," which disguises the identity of the actual author(s).

CleanSpark Investigates Anonymous Short Seller

The apparent purpose of the Culper Research "report" is to cover or profit from the publisher's short positions in the Company, which the publisher expressly acknowledges holding in the report itself.  Holders of short positions trade on an expected decline in the price of a stock.  Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline.

CleanSpark takes seriously any accusations of impropriety, stands behind its prior statements and disclosures, and will not tolerate unfounded and reckless claims against the Company. CleanSpark has retained the law firm of Wilk Auslander LLP in connection with this matter and will be vigilant in investigating the sources of these misrepresentations, including the identity of those veiled behind the entity calling itself Culper Research.  We are aware that litigation premised on the so-called "Culper Report" has been filed and that plaintiff's firms are trolling for additional shareholders. The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report."  We also invite anyone who has any information regarding the persons or entities behind Culper Research to contact the Company at the Investor Relations email address or contact number provided below.

For accurate information about the Company, Shareholders should refer to the Company's disclosure documents filed with U.S. Securities and Exchange Commission, which are available online under the Company's EDGAR profile at www.sec.gov or on the Investor Relations tab of the Company's website at www.CleanSpark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark, Inc.
Investor Relations
(801) 244-4405
IR@cleanspark.com

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SOURCE CleanSpark, Inc.

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Jan 20, 2021 9:30 AM

CleanSpark Provides Update on Bitcoin Balance and Mining Revenue

CleanSpark Provides Update on Bitcoin Balance and Mining Revenue

PR Newswire

SALT LAKE CITY , Jan. 20, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today provided an update on the number of Bitcoins mined by its wholly-owned subsidiary, ATL Data Centers LLC.  In the first 40 days since the acquisition of the mining operation, the Company has generated just over 56 Bitcoins as of end of business, January 19, 2021 .

Microgrid Technology Company Updates Bitcoin Mining Results

The Company had previously stated its plan to strategically manage the percentage of the coins it holds or sells according to market conditions and current Bitcoin prices. To date, CleanSpark continues to hold approximately 31 of the 56 Bitcoins it has mined.  As the Company observes a 9/30 fiscal year end, the mining revenue thus far in FY 2021 has exceeded $1.6 Million based on the daily price of Bitcoin on the date they were mined.

The company expects its daily production numbers to continue to increase over the coming weeks as we further expand mining production capacity. CleanSpark intends to update its investors with additional information as both the energy and data operation's upgrades progress.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "We committed to our investors that we would deliver regular updates on the status of our Bitcoin mining activities as we proceed with our growth strategy. After 40 days, we are pleased with the results generated to date and look forward to providing additional updates on the progress towards our stated objectives both in the energy space and in Bitcoin mining. Our team is dedicated to working diligently to maximize shareholder value and we will continue to update all interested parties as we achieve future milestones."

CleanSpark's Executive Chairman Matthew Schultz recently provided insights to investors about mining and other relevant topics at the RenMark Virtual Conference.  A recording of the presentation can be viewed HERE .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the future value of Bitcoin, the successful deployment of energy solutions on the data center, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Jan 19, 2021 9:25 AM

CleanSpark Partnership Delivers Another New Commercial Microgrid in Orange County

CleanSpark Partnership Delivers Another New Commercial Microgrid in Orange County

CleanSpark and Solar Watt Solutions to join forces on a another commercial microgrid project

PR Newswire

SALT LAKE CITY , Jan. 19, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark", or "The Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges announced a new solar-plus-storage microgrid with EPC (Engineering, Procurement, and Construction) partner, Solar Watt Solutions.

Microgrid Technology to be Deployed at Medical Center, Bitcoin Mining Facility.

Previously, CleanSpark announced it had executed a contract for a new Southern California microgrid.  The energy storage project has been successfully installed and deployed by Solar Watt Solutions including CleanSpark's patented controls on site for resiliency.

An additional contract was signed this week for a medical facility in Orange County that will feature 100kw rooftop and carport solar with 30kw/70kw battery. CleanSpark's patented mPulse controller will optimize the solar plus storage resources to provide the customer with significant cost savings. Based on prior results and the recent mVSO evaluation the medical facility is expected to save around 90% on the monthly energy costs. The facility owner anticipates, that with CleanSpark's solution, they can secure a three-year payback on the fully installed system.

David Watt , President of Solar Watt Solutions said, "The addition of CleanSpark's software and engineering resources has allowed us to meet the increased demand in the market for solar plus storage solutions. Their controls software and energy storage relationships have helped save our customers money and make them less reliant on the utility companies, especially in these uncertain times."

Zachary Bradford , CleanSpark's President and Chief Executive commented, "This is another success for CleanSpark's strategy of engaging with large regional partners. Solar Watt is helping residential and small commercial businesses save on their energy costs via solar and storage solutions as well as providing resiliency solutions. Our products and services are a perfect complement to Solar Watt's existing offerings to bring their customers the benefits of intelligently controlled storage and other microgrid services. Our 'one to many' approach has continued to pay dividends for both CleanSpark as well as our energy partners."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About Solar Watt Solutions

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for a residential or commercial projects.

Solar Watt Solutions helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. We help customers realize all the local, state, and Federal incentives including going green benefits, which make solar energy more affordable than ever before.  Our customers can take pride in knowing that they are part of the solution, not the problem.  For more information, visit https://www.solarwattsolutions.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-partnership-delivers-another-new-commercial-microgrid-in-orange-county-301210616.html

SOURCE CleanSpark, Inc.

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Jan 13, 2021 9:25 AM

CleanSpark Announces Additional Residential Microgrid Contract

Residential Initiative to provide new construction and existing homes with solutions to avoid power disruptions, unpredictable energy costs.

SALT LAKE CITY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, announced an additional contract related to their residential initiative.  The project is for an existing Santa Barbara, CA home that has a history of power disruptions directly related to natural disasters.

This agreement provides that CleanSpark will deliver energy modeling, analytics, and implementation of storage and controls for a microgrid designed to function in addition to or disconnected from the utility when economic or adverse conditions dictate. The system will be controlled by CleanSpark's patented mPulse software, to ensure optimization of energy costs while delivering the highest level of resiliency. The homeowner, Frank Huerta, has been forced to evacuate the residence due to wildfires, rolling blackouts, and other natural disasters. As a business owner, Mr. Huerta is intimately aware of the impact a sustained disruption can cause, not only to his residence, but to his company as well.

According to PG&E data, some California counties lost power up to seven times during 2019, significantly more than the national average (1.4, US Energy Information Administration study).

CleanSpark's team of energy professionals are currently working closely with the homeowner and the utility to analyze the system for appropriate sizing. Through the utilization of the Company's mVSO microgrid energy modeling software, the system will be optimally designed to provide resilient energy for all critical circuits, according to the needs of the client, in the event of a sustained disruption. Additionally, the Company's suite of products will provide end-to-end management for the microgrid, ensuring the lowest cost of energy during standard, connected operation.

When asked about selecting the CleanSpark line of products, customer Frank Huerta stated, "I did a tremendous amount of research on backup power systems including residential microgrids and found CleanSpark's solution to be the best solution to meet my needs. Their system is extremely flexible, providing unlimited opportunities for future expansion as my requirements change. The single greatest value, for us, is to have the confidence and security that our home is not subject to unpredictable energy interruptions that are beyond our control…you really can't put a price on that. We plan to someday expand this system to fully disconnect our home from the utility connection."

Zach Bradford, CEO of CleanSpark added, "Mr. Huerta's situation is an increasingly common theme with California homeowners. His need for resilient energy presented us with another opportunity to deliver tremendous value with a smart solar and storage microgrid. In addition to providing energy certainty and long-term savings, this deployment provides an application of our solutions to solve real-world challenges for our clients and partners. Expanding our highly respected military, commercial, and industrial energy solutions to include residential microgrids is the next logical progression in our growth plans. The market continues to evolve away from the unstable, centralized power grid, and customers of all walks of life are now seeking the certainty and confidence that a residential microgrid can provide. Additionally, many of our clients have found that the ever-evolving utility tariffs have devalued their existing solar or generator investments, and this provides the solution to secure the legacy investment value and leverage it well into the future."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jan 11, 2021 7:00 AM

CleanSpark to Participate in Renmark's Virtual Roadshow Series on January 11

Executive Chairman Matthew Schultz will Present Live to Investors and Institutions to Discuss Updates Including its Bitcoin Mining Operations.

SALT LAKE CITY, Jan. 11, 2021 (GLOBE NEWSWIRE) -- SALT LAKE CITY, January 11, 2021 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in Renmark's Virtual Non-Deal Roadshow Series on Monday, January 11, at 12:00 pm ET.

The presentation will feature Matthew Schultz, CleanSpark's Executive Chairman. Topics covered will include the latest investor presentation featuring insight into the Company's growth plans and acquisition of ATL Data Center LLC. The discussion will highlight the expected timeframe to add more than 30MW to the new facility, microgrid development plans, and the additional Bitcoin miners expected to be deployed over the coming weeks.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event may be limited but accessed for replay after the event on The Company's Investor website.

REGISTER HERE: https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-nasdaq-clsk/2021-01-11-170000

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jan 7, 2021 9:25 AM

CleanSpark, Inc. Commences Residential Estate Program with Bay Area Energy Solutions, Inc.

CleanSpark, Inc. Commences Residential Estate Program with Bay Area Energy Solutions, Inc.

Companies Launch Initiative with First Luxury Deployment

PR Newswire

SALT LAKE CITY , Jan. 7, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, and Bay Area Energy Solutions, Inc. today announced they are jointly developing the first pilot microgrid solution for an estate residence in Healdsburg, CA. The companies are pleased to have secured the first contract under a previously announced partnership agreement.

CleanSpark Launches Luxury Estate Energy Program Following Successful Bitcoin Deployment

This initial project is anticipated to be the first of a joint initiative formed with a number of domestic energy developers, including Bay Area Energy Solutions.  Luxury and estate homes offer a targeted niche with unique requirements for which CleanSpark and its partners can provide strategic solutions. Properties of this size often require significant power for one or more building structures and can even include business operations on site. There are thousands of homes greater than 10,000 square feet in the state of California alone, where incentives and tax benefits, along with well-documented utility challenges support the implementation of new, renewable, and resilient energy sources. CleanSpark expects to develop a significant pipeline of projects within this sector.

The first deployment is a 14,000 square foot estate currently under construction. When completed, the luxury residence will be operated fully grid-disconnected, utilizing on site generation, solar, and storage managed by CleanSpark's mPulse Controller for system optimization. The goal of the project is to provide self-sufficient off-grid energy for locations frequently experiencing grid disruptions from events including wildfires and public safety grid shutdowns. The California Energy Commission anticipates increasing volatility in areas prone to disruptions.

Kilowatt Labs, Inc.'s supercapacitor-based energy storage which will be installed with photovoltaic solar panels during the first phase of the project in order to power construction of the home. Additional solar and stand-by generators will be added once the homeowner takes residence.

Amer Tadayon CRO of CleanSpark commented, "We are seeing increasing investments being made by estate homeowners integrating sustainable energy technology into construction projects of this magnitude, and we believe this trend will continue. This is the first foray directly into this market segment for CleanSpark. With our development partners, we can help solve critical energy and resiliency challenges for these types of residences." Adding, "We are pleased to continue building our pipeline of microgrid projects with partners like Bay Area Energy Solutions, where we expect to deploy multiple mPulse controlled residential microgrids in 2021."

Joel Ware , owner of Bay Area Energy Solutions said, "Because this is an off-grid project, we worked with a number of energy providers including Kilowatt Labs to procure the proper electrical generation and storage for the construction phase, as well as the permanent occupancy of the home. CleanSpark's Controller will enable our customer to power their home and property efficiently, with self-sufficient, sustainable energy that is not reliant on the increasingly volatile utility grid."

Zach Bradford CEO of CleanSpark said of the project, "We are excited to participate on this project with Bay Area Energy. CleanSpark's proprietary mPulse system, paired with solar, storage, and generators will provide complete resiliency as well as significant cost savings. It will also allow their microgrid to be 'future-proof' should they wish to add additional solar or other resources at a later date.  We believe that the sustainable energy management opportunities presented within the higher end residential real estate market will parallel the successes we've begun to experience in our Bitcoin mining operations."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About Bay Area Energy Solutions, Inc.:

Bay Area Energy Solutions, Inc. provides custom solar design and installation services for residential and commercial properties in the Greater California Bay Area. Bay Area Energy Solutions, Inc. is proud to be a certified Sunpower dealer, and a Tesla PowerWall authorized installer.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-inc-commences-residential-estate-program-with-bay-area-energy-solutions-inc-301202645.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 5, 2021 9:25 AM

CleanSpark Provides Bitcoin Mining Operation Update

SALT LAKE CITY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- SALT LAKE CITY, January 5, 2020 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced updated total Bitcoin mining numbers and revenues following its acquisition of its wholly owned subsidiary, ATL Data Centers LLC.

From December 10, 2020 the first full-day of mining following the acquisition, through the end of the calendar year, CleanSpark produced just over 31 Bitcoins from its mining activities. Production since the first of the year has exceeded 4.3 Bitcoins. Bitcoin prices have rapidly escalated to as high as $34,366 over the holiday weekend. The Company's Bitcoin mining activities have resulted in roughly $873,000 of revenue since the closing of the transaction.

Zach Bradford, CEO of CleanSpark commented, "We believe in taking a big-picture approach in how we view Bitcoin values with a focus on profitability. Conservatively, based on our all-in costs including energy, rent, personnel and overhead the Company can realize a profit whenever Bitcoin values are above $6,000 per coin. We anticipate that as we scale up our deployment of energy assets and software, we can decrease our total cost per coin to even lower levels. As prices fluctuate, the Company's focus is on the variables within our control; such as expanding the fleet of miners, and maximizing the renewable energy usage. We anticipate completion of our near-term expansion within the coming weeks adding 1,500 more ASICs miners in January. We will continue to provide periodic updates as we make additional progress on our expansion plans with the intention of increasing production at our Atlanta facility from the current approximately 15 MW to more than 50 MW. All of this is to swiftly move towards our goal of mining bitcoins at the lowest energy cost in the United States."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit: https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the price of Bitcoin (BTC), the timing of our expansion plans, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Dec 31, 2020 9:25 AM

CleanSpark Achieves Another Record Revenue Year, Discusses Growth Plans in Annual Statement to Shareholders

CleanSpark Achieves Another Record Revenue Year, Discusses Growth Plans in Annual Statement to Shareholders

CleanSpark Inc. Delivers in Excess of 100% Year-Over-Year Revenue Improvement for the Third-Consecutive Year.

PR Newswire

SALT LAKE CITY , Dec. 31, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, is pleased to update its shareholders and further comment on the Company's financial results presented in its most recent Form 10-K. The Company recommends that readers also review the previously filed 10-K in its entirety, which is available free of charge to all interested parties on its website or on www.sec.gov .

CleanSpark Looks Toward 300% Revenue Growth

Dear Fellow Shareholders,

The COVID-19 pandemic presented many hardships throughout the year that have touched us all in some way or another. With the recent progress being made by the medical community and a growing optimism surrounding the economy, we are increasingly confident about the status of our company and the promise of the future. As we discussed in our comments following the report of our third-quarter results, we consider the Company extremely fortunate to have continued to thrive during the global challenges of 2020. The professionalism demonstrated by the CleanSpark team to readily shift to a 'work-at-home' environment in a seamless transition was certainly the foundation for our continued successes. We found ourselves in the midst of commissioning some of our first international microgrid deployments just as countries around the world closed their borders to foreign travel. In response, our software team was able to successfully and rapidly develop a remote deployment and commissioning strategy that enables our partners to commission our systems remotely, including those located outside of the country. These upgrades, while mandatory in the face of COVID-19, will almost certainly improve our efficiencies and significantly reduce costs in future remote deployments as we continue to execute on our 'one to many' strategy to develop far reaching partnerships to enhance distribution.

Prior to CleanSpark completing a successful uplist to the Nasdaq stock market last January, the Company's management team forecast a revenue increase exceeding 100%. Not only were we able to achieve our projected numbers, but the Company also completed a series of strategic acquisitions that should prove to be tremendously valuable to all shareholders in the coming years. In addition to increasing our gross revenues, we've focused on streamlining all aspects of our operations to reach our goal of profitability within the coming year and paved this road with a series of carefully planned corporate transactions.

We're proud of the efforts of our amazing stakeholders across the entire enterprise for successfully achieving a number of significant wins for the Company, including:

  • During our 2020 fiscal year, we completed successful acquisitions of GridFabric and p2klabs. Both acquired companies are cashflow-positive and provide us with entirely new verticals for growth. Subsequent policy shifts (FERC2222) should further accelerate growth in the GridFabric segment.
  • The September ruling by the Federal Energy Regulation Commission, FERC 2222, is a massive policy shift in favor of the distributed energy market in particular and a significant win for CleanSpark. It should open up additional value streams for microgrid developers and owners to fully participate in wholesale markets. These opportunities are expected to dramatically improve microgrid economics and stimulate future deployments. Microgrid developers of all sizes should now be able to leverage CleanSpark's robust portfolio of technologies to tap into these opportunities and offer significant value for their customers.
  • CleanSpark successfully commissioned its first two microgrids within Costa Rica . The commercial customers utilize mPulse to manage the day-to-day performance of the power system, maximizing the energy savings while providing certainty of operations through the Tesla  battery energy storage systems provided on site.
  • In early December 2020 , we acquired ATL Data Centers in an ' all-stock' transaction. By leveraging our proprietary technologies, the Company expects to increase Bitcoin production while lowering total energy costs, thereby maximizing overall profitability. The anticipation of producing Bitcoins at what we believe will be potentially the lowest total energy cost in America is expected to be a substantial opportunity to market our proprietary energy solutions to other energy intensive operations throughout the world.
  • Since the acquisition, Bitcoin has traded as high as $28,500 per coin.  We've also ordered an additional 1,500 ASICS miners since the closing of the ATL transaction, with plans to fully deploy this order of miners in January 2021 . Management believes that recent moves by companies such as Square, PayPal, MicroStrategy and others have furthered the validation of Bitcoin, and expects that energy efficiency will soon become a priority. The addition of new miners, paired with the recent market performance of Bitcoin prompted the company to raise our revenue guidance to $30M for fiscal 2021, 300% of what we successfully delivered in 2020.
  • The Company further improved its corporate governance and oversight by appointing two new independent board members and creating a fully independent audit and compensation committee. CleanSpark enhanced its reliable, talented, and goal-oriented management team, including the promotion of Zach Bradford as its Chief Executive Officer, the appointments of Lori Love , as Chief Financial Officer, Amer Tadayon as Chief Revenue Officer, and Marty Weishaar as Vice President of Marketing. The Company's co-founder and former CEO, Matthew Schultz assumed new duties as the Executive Chairman. Our team has now grown to 62 full-time staff members as of December 29, 2020 .
  • Along with ReJoule, Inc., we were jointly awarded a $2.9 Million grant from the California Energy Commission with support from the Ford Motor Company  for second-life EV battery deployments. The first joint deployment is expected to occur in the next quarter.
  • The software and product team launched new features for our two product lines
    • In mVSO, we began the year with an expanded equipment library for energy storage that has only grown over the last 9 months and continued our improvements by releasing a revamped user experience and additional functionality around modeling different rate structures and demand response programs.
    • mPulse published four separate feature-set releases to customers as well as an expanded web portal to enable self-service of user and alert management, pre-configured performance reports, and custom data exports.
  • We're looking forward to accelerating our software capabilities and features across the CleanSpark family of products, including GridFabric. We believe the growth will be due in part to the increase in our software team that has nearly doubled in size within the last two months.
  • CleanSpark commissioned multiple microgrids controlled by our mPulse hybrid-cloud control software in our fiscal 2020 year. These microgrids span the industrial, commercial, and indoor agriculture industries. mPulse is already optimizing renewable energy usage and providing energy cost savings at each site. In addition, we shipped over 70 Switchgear units to commercial and industrial customers ensuring resiliency and seamless power availability. These units now support US Embassies, critical water treatment facilities and a number of locations of the nation's largest retailer.
  • In October, the Company closed an underwritten public offering of its common stock and received gross proceeds of $40 million before deducting underwriting expenses and fees. CleanSpark intends to continue to use the net proceeds from the offering to support its future growth through increased sales and marketing, product development and software enhancements/ improvements, and additional strategic mergers and acquisitions, along with general corporate purposes.

Outlook

The Company expects the somewhat cyclical nature of our business to continue. As an example, approximately 10% of our fiscal 2020 revenue was realized in the quarter ending December 31 , 2019.  We anticipate this trend will continue in fiscal 2021 and we forecast that our second and third fiscal quarters will again be our strongest. We expect to generate $20 million in revenue related to our current business segments and we expect the recent acquisition of ATL Data Center to contribute a minimum of $10 million in additional Bitcoin-based (BTC-USD) revenues for 2021. We are working diligently to expand the data center capacity allowing us to further increase these initial estimates, but the Company's guidance will remain somewhat conservative until the expansion has been completed and we have sufficient data to forecast a firm outlook. Finally, as we have only recently begun to integrate ATL into our operations, we have not yet measured the potential additional value expected to be derived from the demonstration of our energy technologies within the data center for additional microgrid deployment and sales opportunities.

We are thankful for the dedicated support from all of our stakeholders. We continue to put our efforts towards increasing shareholder value, achieving profitability, and improving our margin profile through increased software and service revenues. We are aggressively seeking new acquisition opportunities for 2021, along with identifying partnerships and product enhancements that will expedite our growth as a company. Finally, our previously discussed data center and Bitcoin mining expansion has begun as of this writing, while we continue to seek additional growth opportunities.

We sincerely, thank you for your continued support of CleanSpark.

With warmest regards, and wishes for a very healthy, happy and prosperous 2021, your fellow shareholders,

Zach and Matt

Zachary Bradford , CEO
and
S. Matthew Schultz , Executive Chairman

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the price of Bitcoin (BTC), the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 28, 2020 2:27 PM

CleanSpark to Discuss Bitcoin Mining Acquisition and Related Growth Opportunities

Expected Topics to Include Bitcoin Price Surge, Electricity Expansion, Addition of New ASIC's

SALT LAKE CITY, Dec. 28, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, December 28, 2020 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in the Water Tower Research Fireside Chat Series on Tuesday, December 29, 2020, at 3:00 pm ET. Topics covered will include insight into the company's Bitcoin mining operation and newly-revised 2021 guidance including the ATL Data Center acquisition.

The chat will feature Zachary Bradford, CleanSpark's Chief Executive Officer. The host and moderator will be Shawn Severson, Head of Sustainable Investing at Water Tower Research. A brief question and answer session focusing on the Company's year-end 2020 filing will follow.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1417925&tp_key=a01739ed15

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the closing of the transaction, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Dec 22, 2020 9:30 AM

CleanSpark Announces Additional 1,000 Unit ASIC Bitcoin Miner Order for January Delivery

CleanSpark Announces Additional 1,000 Unit ASIC Bitcoin Miner Order for January Delivery

Miners Ordered Since Acquisition to Increase Capacity by More Than 33%

PR Newswire

SALT LAKE CITY , Dec. 22, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, is pleased to announce that it has secured an additional 1,000 ASICs (Application-specific integrated circuit) Bitcoin miners, slated for delivery and commissioning in the coming month. This order, when paired with the 500 ASICs announced last week and installation of the new S19s, is expected to increase the Company's mining capacity by more than 100 PH/s to approximately 300 PH/s.

CleanSpark's Bitcoin Mining Capacity to Increase More Than 33%

"We are excited about demonstrating the efficiency of microgrid solutions on high-density energy operations. As we work towards the implementation of the facility power system upgrade, our focus is on maximizing the total Bitcoin output by immediately adding ASICs. In the Bitcoin mining industry, time is money, and due to the meteoric rise in price, ASIC miners are exceedingly difficult to procure. Many mining companies, both publicly traded and privately held, have stated plans to expand capacity in six to nine months, however we have focused on sourcing units for immediate deployment. As Bitcoin prices have continued to rise, and industry leaders such as Square, PayPal, MicroStrategy and others have made substantial investments in Bitcoin, we believe this strategy will provide exceptional returns for our shareholders," stated Zachary Bradford , CleanSpark's President and Chief Executive Officer. "This opportunity presented us a chance to deploy additional resources in furtherance of our strategy to utilize the available energy supply in the most efficient and profitable manner possible," concluded Bradford.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the value of Bitcoin, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 18, 2020 9:15 AM

CleanSpark Provides Update on Bitcoin Mining Operations and Expansion

CleanSpark Provides Update on Bitcoin Mining Operations and Expansion

SALT LAKE CITY , Dec. 18, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today provided an update on its recent acquisition of ATL Data Center LLC ("ATL").

The Company previously announced that this acquisition was centered around the opportunity to deploy its patented microgrid software and controls at the data center location to increase power capacity, energy savings, and resiliency. CleanSpark believes this will demonstrate to other mining operations the value of its microgrid solutions using distributed energy sources including solar, energy storage and other renewables in a real-world, power-intensive application.

CleanSpark Updates Bitcoin Mining Expansion

By leveraging its proprietary microgrid technologies, the Company expects to increase Bitcoin production while lowering total energy expense, thereby maximizing overall profitability. Since the acquisition was announced one week ago, and as of this release, CleanSpark through ATL has earned approximately 10 Bitcoins. As of December 17, 2020 , Bitcoin has traded as high as at $23,775 , increasing from $18,279 on the day acquisition was completed.

This week, the Company placed an order for 500 additional Bitcoin mining units ("ASICs") to be deployed at the ATL location in Atlanta, GA. Delivery of the new ASICs is scheduled for the second week of January.  CleanSpark has also installed an additional 38 new S19 ASICs just this week. These new machines are in addition to the more than 3,400 ASICs already in daily operation onsite.  Bitcoin miners receive incremental amounts of Bitcoin as payment for completing blocks of verified transactions which are subsequently added to the blockchain.

Zachary Bradford , CleanSpark's CEO said, "We are extremely pleased with the first week post acquisition, ATL has continued mining without significant interruption during integration of our teams and the ability to quickly procure additional miners immediately increased our capacity. With the latest S19s deployed we have now exceeded 200PH/s of mining capacity."  He added, "We are focused on successfully deploying renewable energy assets in digital currency mining, and CleanSpark anticipates upon implementation of its solutions that its total costs to mine at ATL will be among the lowest in the United States ."

Matthew Schultz , CleanSpark's Executive Chairman commented, "Doing the simple math, 10 bitcoins have added roughly $200,000 to CleanSpark's revenues in the week since closing. Our commitment to ATL was to give their team of experts autonomy in their mining operations, but also provide crucial resources and support to expand the facility and increase profitability."  Schultz added, "This begins by providing energy solutions, but additionally by supporting the procurement of new mining equipment to increase output and efficiency, as evidenced by the new ASICs deployed thus far."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the value of Bitcoin, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Dec 17, 2020 6:06 PM

CleanSpark, Inc. Reports Fiscal 2020 Financial Results

CleanSpark, Inc. Reports Fiscal 2020 Financial Results

SALT LAKE CITY , Dec. 17, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for its fiscal year ended September 30, 2020 .

Financial Highlights

  • As the Company forecasted a year ago, CleanSpark more than doubled our annual revenues, with fiscal 2020 revenue exceeding $10.0 million , an increase of 122% from $4.5 million for the prior year. These results represent the third consecutive year in which revenues more than doubled.
  • Gross Margin increased 21.1% to $2.12 million compared 14.9% and $0.67 million to the prior year.
  • Loss from operations improved by $1,470,729 compared to the prior year.
  • Net loss improved by $2,770,780 compared to the prior year.
  • Non-GAAP net loss for the fiscal year ended September 30, 2020 totaled $466,000 or $(0.03) per basic and diluted share, compared to income of $106,000 or $0.01 per basic and diluted share in the same year-ago period.
  • Operational successes resulted in raising $44 million in funding over the last 12 months. These funding transactions are expected to provide long-term financial stability for the foreseeable future as the company moves towards profitability.

2020 Operational Highlights

  • CleanSpark successfully uplisted to the Nasdaq Capital Market in January 2020
  • The Company improved corporate governance and oversight by appointing two new independent board members and the creation of a fully independent audit and compensation committee.
  • CleanSpark further developed its reliable, talented and goal-oriented management team, including the promotion of Zach Bradford as its Chief Executive Officer, the appointments of Lori Love , as Chief Financial Officer, Amer Tadayon as Chief Revenue Officer, and Marty Weishaar as VP of Marketing. The Company's co-founder and former CEO, Matthew Schultz assumed new duties as the Executive Chairman. Our team has now grown to 62 full-time staff members as of December 16, 2020 .
  • During our fiscal year, we completed successful acquisitions of GridFabric and p2klabs. Both acquired companies are cashflow-positive and provide us with entirely new verticals for growth.
  • We implemented new sales and marketing initiatives resulting in significant increases in overall revenues, contracted backlog, and proposal pipeline.
  • CleanSpark, Inc. and ReJoule were jointly awarded a $2.9 Million grant from the California Energy Commission with support from the Ford Motor Company for second-life EV battery deployments. The first joint deployment is expected to occur in the next quarter.
  • The Company announced a microgrid development agreement with International Land Alliance.  According to the terms of the contract, CleanSpark is expected to provide microgrid power solutions to more than 400 unique residential resort properties.

Financial Summary

Revenues

The Company recognized more than $10.0 million in revenues during the year ended September 30, 2020 , as compared with $4.5 million in revenues for the year ended September 30, 2019 .

For the year ended September 30, 2020 and 2019 our revenue was derived from two business segments:

Energy Segment - Consisting of our CleanSpark, LLC., CleanSpark Critical Power Systems, Inc. and GridFabric, LLC lines of business, this segment provides services, equipment and software to the energy industry. The income from our Energy Segment is the result of contracts to sell switchgear equipment, perform engineering and design services, and provide software for distributed energy and microgrid systems.

Digital Agency Segment - The Company's wholly owned subsidiary p2klabs, Inc. provides design, software development and other technology-based consulting services.

Our Energy business segment contributed $9.0 million or 90% of consolidated revenue in fiscal 2020, compared to $4.5 million or 100% of consolidated revenue in the same year-ago period. The Company's digital agency segment generated services revenue from our p2klabs subsidiary, acquired in January 2020 . This segment contributed $1.0 million or 10% of consolidated revenue in 2020.

Gross Profit

Our gross profit for the year ended September 30, 2020 was $2.12 million or 21.1% of revenue, as compared with gross profits of $0.6 million or 14.9% of revenue for the year ended September 30, 2019 . The increase in gross margin was largely driven by increased high-margin revenues derived from our software services and related revenue.

Operating Expenses

Our 2020 operating expenses were approximately the same as our operating expenses for the same period in 2019. Operating expenses as a percentage of revenue improved to 122% in 2020 versus 381% in the prior year.

Other (expense)

The Company's total other expenses in the year ending September 30, 2020 totaled approximately $(8.2) million as compared to $(9.5) million in 2019. The Company experienced significant non-cash expenses related to interest and capital expenses associated with prior financing agreements. We do not anticipate experiencing the same type of expenses in 2021.

For the year ending September 30, 2020 , net loss attributable to common stockholders on a GAAP basis totaled $23.3 million or $(2.44) per share in 2020 compared to a loss of $26.1 million or $(6.25) per share in 2019.

Non-GAAP figures

Adjusted EBITDA, a non-GAAP term, resulted in negative $4.91 million in 2020, as compared to negative $4.35 million in 2019.

Non-GAAP net loss attributable to common stockholders totaled $4.93 million or a loss of $(0.52) per share in 2020, as compared to $4.89 million or a loss of $(1.17) per share in 2019.

Working capital

Cash and cash equivalents totaled $3.1 million as of September 30, 2020 , as compared to $7.8 million on September 30, 2019 . Just after our fiscal year end, on October 9, 2020 , the Company closed an underwritten offering and received gross proceeds of $40 million , before deducting underwriting expenses and fees. The company believes its current cash position and other available funds provide it with sufficient liquidity to meet its cash requirements for current operations and to continue to fund its growth.

The Company's form 10-K and accompanying audited financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/

Management-Commentary

"This was an excellent year for CLSK, despite challenging economic conditions resulting from the COVID-19 pandemic. Fortunately, the impact of the COVID pandemic on CleanSpark has been relatively minimal to date.

From an operations perspective, we successfully transitioned our workforce to a remote model for the majority of the year. Fortunately, prior to the start of 'stay at home' orders, we already had more than 50% of our workforce working remotely full-time or part-time. Additionally, all remote staff members were equipped with the required equipment to make the transition from office to home rather seamless. As a result, we experienced minimal internal disruption to our business, while productivity continues to remain high. Additionally, the Company successfully adapted our software delivery model to support remote commissioning. These strategic improvements will benefit us well beyond the end of the pandemic by reducing global deployment expenses. In the short term, the adaptation of these parameters significantly decreased the impact of the virus on deployments.

Our focus has been on maintaining consistency in the timely delivery of our products; increasing our sales efforts, enhancing the features and functionality of our software products as well as the completion of accretive acquisitions. The acquired companies provide immediate profitable and scalable revenues; and lastly, strengthening our balance sheet by raising more than $40 million in working capital.

Our reported backlog at the end of our prior fiscal year of $6.4 million , consisting of contracted revenue not yet delivered. Following the successful execution of those contracts, the current contracted backlog remains strong at approximately $6.5 million as of the date of this filing. Our current proposal pipeline is approximately $25.0 million , an increase from roughly $10.0 million we had as recently as the close of our fiscal year on September 30, 2020 . This increase is directly attributable to our newly expanded sales team.  We expect our proposal closing rate to accelerate as COVID-19 vaccines begin to be made available to the public in the coming quarters. We believe our increase in backlog demonstrates the pent-up demand for resilient, distributed energy solutions as the pandemic nears a close," stated Zach Bradford , CleanSpark's CEO.

Outlook

The Company expects the somewhat cyclical nature of our business to continue. As an example, approximately 10% of our fiscal 2020 revenue was realized in the quarter ending December 31 , 2020.  We anticipate this trend will continue in fiscal 2021 and we forecast that our second and third fiscal quarters will again be our strongest. We expect to generate $20 million in revenue related to our current business segments and we expect the recent acquisition of ATL Data Center to contribute a minimum of $8 million in additional Bitcoin-based (BTC-USD) revenues for 2021. We are working diligently to expand the data center capacity allowing us to further increase these initial estimates, but the company's guidance will remain somewhat conservative until the expansion has been completed and we have sufficient data to forecast a firm outlook. Finally, we have not measured the potential additional value expected to be derived from the demonstration of our energy technologies within the data center for additional microgrid deployment and sales opportunities.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the company. The company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization,  impairment of long-lived assets, financing costs, stock-based compensation expense, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CLSK management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the company's core business operating results and those of other companies, as well as providing the company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.

The company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CLSK management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.



September
30, 2020


September
30, 2019

Net loss (US GAAP)

$

(23,346,143)

$

(26,116,932)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


2,672,331


1,902,981

Software amortization


163,918


1,453,635

Stock based compensation


2,053,232


1,993,043

Accrued employee stock-based compensation


2,732,045


-

Impairment expense


-


6,915,186

Interest, financing charges, non-cash amortization of debt discounts


10,758,750


9,483,662

Non-cash amortization of right of use assets


44,569


-

Loss on settlement of debts and disposal of assets


5,218


19,425

Total:

$

18,430,063

$

21,767,932






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(4,916,080)

$

(4,349,000)

Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. CLSK management believes that exclusion of certain selected items assists in providing a more complete understanding of the company's underlying results and trends and allows for comparability with its peer company index and industry. CLSK management uses this measure along with the corresponding GAAP financial measures to manage its business and to evaluate the company's performance compared to prior periods and the marketplace. The company defines Non-GAAP (loss) income attributable to common stockholders as (loss) or income before amortization, stock-based compensation, expenses related to discontinued operations, impairment of long-lived assets and non-cash financing and interest expense. Adjusted EPS expresses adjusted (loss) income on a per share basis using weighted average diluted shares outstanding.

Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The company expects to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from the company's presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

The following table sets-forth non-GAAP net loss attributable to common stockholders and basic and diluted earnings per share:



September
30, 2020


September
30, 2019

Net loss (US GAAP)

$

(23,346,143)

$

(26,116,932)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


2,672,331


1,902,981

Software amortization


163,918


1,453,635

Stock based compensation


2,053,232


1,993,043

Accrued employee stock-based compensation


2,732,045


-

Impairment expense


-


6,915,186

Non-cash interest, financing charges, non-cash amortization of debt discounts


10,744,588


8,963,829

Non-cash amortization of right of use assets


44,569


-

Total:

$

18,410,683

$

21,228,674






Non-GAAP Adjusted Loss

$

(4,935,460)

$

(4,888,258)






Weighted average common shares outstanding - basic and diluted


9,550,626


4,177,402

Loss per common share - basic and diluted

$

(0.52)

$

(1.17)

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, the successful and continued integration of acquired businesses, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.

Investor Relations

(801)-244-4405

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Dec 15, 2020 9:25 AM

CleanSpark Announces Partnership with Solar and Storage Developer Symmetric Energy

CleanSpark Announces Partnership with Solar and Storage Developer Symmetric Energy

SALT LAKE CITY , Dec. 15, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today announced it has partnered with Symmetric Energy (Symmetric) to target new microgrid projects in Northern California . The objective will be to provide reliable back-up energy or off-grid power using a combination of solar PV and energy storage for both commercial and estate-level residential microgrids.

CleanSpark Signs Another Partner for Microgrid Deployments

Symmetric is designing solar and storage solutions that provide "Peace of Mind" battery back-up services for residential customers and energy security at an industrial scale for commercial implementations. Symmetric is based in San Rafael, CA and serves all of the Bay Area counties including Marin , Sonoma , Napa , San Mateo , Santa Clara , as well as the surrounding areas which have a history of fire and weather-induced power outages and demand constraints.

In anticipation of the partnership, CleanSpark and Symmetric have already begun project development for off-grid residential projects to be managed by CleanSpark's patented mPulse intelligent controls for solar and storage. Additionally, the agreement provides that mVSO, CleanSpark's design and modeling software, is to be used to analyze upcoming projects and RFPs for Symmetric.

Amer Tadayon , CleanSpark's Chief Revenue Officer commented, "We are excited to announce another partnership with a well-established solar and storage developer in California.  We believe that partnering with CleanSpark for design and controls software along with the co-marketing capabilities of our team will allow Symmetric to rapidly generate many more microgrid projects.  With Symmetric, CleanSpark will be able to provide mPulse to a substantial number of projects through a trusted, existing relationship."

Elliott Jessup , Director of Business Development for Symmetric Energy stated, "We had identified the need to offer intelligent software and controls to provide energy security, resiliency and cost-avoidance to our long-term clientele.  We analyzed a number of options and determined that CleanSpark's control solution will best provide our clients with savings, secure backup power, and even provide off-grid capabilities when the need arises.  CleanSpark will provide us with the resources, relationships and technologies to ensure that the energy solutions are properly optimized to meet the needs of our discerning residential and commercial customers."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at mailto:ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About Symmetric:

Symmetric Energy provides custom tailored solutions to give your home or place of work energy independence and a level of energy cost savings that only a well-designed solar system can provide, please inquire directly at info@symmetricenergy.com or visit the website at https://www.symmetricenergy.com/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of the partnership with Symmetric, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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Dec 10, 2020 9:20 AM

CleanSpark Agrees to Acquire Bitcoin Miner ATL Data Center

CleanSpark Agrees to Acquire Bitcoin Miner ATL Data Center

SALT LAKE CITY , Dec. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today announced it has agreed to acquire ATL Data Centers, LLC ("ATL") for up to $19.4 million in shares of the Company's common stock.

Microgrid leader CleanSpark acquires Bitcoin mining firm to deploy renewable energy solution.

This transaction represents the first strategic acquisition as part of a larger growth plan following CleanSpark's recent $40M institutional investment. ATL creates a unique business opportunity as a full-scale, profitable demonstration facility for the Company. The property is currently served by two separate utility interconnections with entirely different rate structures that power individual segments of the business. CleanSpark plans to deploy its software technologies and trade secrets to maximize energy savings, expand total power capacity, provide resilient electricity, and reduce greenhouse gas emissions. The Company anticipates that this will involve the design and installation of multiple microgrids at the facility. Each microgrid would be focused on a specific function, however, the fractal topology of the design will enable them to be interconnected to share power, creating resiliency as well as maximizing total facility efficiency. Since power resiliency directly supports increased profitability in data or processor intensive applications, the Company's ability to deliver high power reliability is expected to demonstrably increase profitability of each segment of the existing business.

As part of the first phase, the Company has contracted with the local municipality to expand the power to the facility from 20MW to 50MW.  It is expected that this expansion will begin promptly and be completed in April 2021.  In addition to this initial utility-level expansion, CleanSpark will begin modeling solutions with its proprietary mVSO software and subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls. Additionally, the Company intends to more than quadruple the number of ASIC (application specific integrated circuit) mining units in operation during the expansion.

As the new policies of FERC 2222 begin to take effect over the coming year, CleanSpark expects to be uniquely positioned to benefit from the implementation of the regulation using its GridFabric applications and other technologies to maximize market opportunities.

Ultimately, it is envisioned that the facility will feature a real-time web-based view of power and dollar savings generated by CleanSpark's technology, offering clients a unique opportunity to see demonstrated savings in a real-world, power-intensive application.  This data will allow clients to make microgrid investments with more reliable information.

Zachary Bradford , CleanSpark's CEO said, "As part of our strategic acquisition initiative, we identified energy-intensive companies facing the greatest amount of exposure to high power costs and resiliency risk.  Our prior experience in the digital currency mining industry provided insight into how proper energy management was crucial to successful and profitable mining operations.  In 2018, CleanSpark's energy professionals were tasked to design and engineer a microgrid solution for a 'stand-alone' mobile bitcoin mining system.  As part of the ATL complex we now have 23 such mobile mining rigs in addition to the main facility. This acquisition enables us to take our prior designs and expand upon them at a much greater scale.  We believe today's transaction allows us to obtain a significant and rapid return on our investment while further validating our energy technologies.  We began early-stage analysis of ATL in February 2020 to evaluate expanding the facility's energy capacity and reducing energy costs. After an in-depth examination of the profitability under the existing energy structure, it was apparent that it was a perfect fit to deploy the aforementioned strategy.

There are currently 3,471 bitcoin mining units ("ASICs") in daily operation on site, processing approximately 190 PH/s which are using approximately 9.6 MW of capacity.  We anticipate that upon completion of the equipment and energy expansion, the facility is expected to produce between 0.9-1.4 EH/s, depending on the final configuration and ASICs deployed. We expect that this will result in multiple bitcoins being produced daily at some of the lowest energy costs in the nation for this type of enterprise.  The Company expects to demonstrate that, by using our technologies, we can reduce the cost of energy to below $0.0285 per kw/h.  After successfully deploying the systems, we intend to take this model to other sites, many of which have significantly higher energy costs offering potentially greater opportunities for savings."

Matthew Schultz , CleanSpark's Executive Chairman commented, "The recent, significant investments into Bitcoin by such respected companies as Square, PayPal, and MicroStrategy further validate our due diligence conclusions surrounding this acquisition.  Our assessment regarding the need for renewable energy in digital currency mining was further supported this week when Square (NYSE: SQ) announced the intent to deploy $10M towards its Bitcoin Clean Energy Investment Initiative. This transaction should immediately position us as one of the largest publicly-traded Bitcoin producers in the country.  We will certainly be the only microgrid company that owns and controls the distributed energy supply to its own mining activities, in furtherance of developing our best-in-class technologies. Our efforts will demonstrate to potential clients in this space an easily transferable, low risk for execution model that can quickly enhance their bottom line."

With respect to the above transaction "Buckman, Buckman & Reid, Inc. acted as a non-exclusive Investment Advisor. Buckman, Buckman & Reid, Inc. was founded in 1988 as a registered broker dealer with the Securities and Exchange Commission ("SEC"), Securities Investor Protection Corp. (SIPC) and member of the Financial Industry Regulatory Authority ("FINRA"). BB&R is a full-service securities brokerage firm engaged in a variety of activities, including retail and institutional brokerage, wealth management, investment advisory services, private offerings and other investment banking activities.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years.
https://www.atl-data.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the closing of the transaction, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Dec 8, 2020 3:05 PM

CleanSpark to Participate in Water Tower Research Fireside Chat Series on Growth and Expansion

SALT LAKE CITY, Dec. 08, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, December 8, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company will be participating in Water Tower Research Virtual Conference and Fireside Chat Series on Thursday, December 10, 2020, at 3:00 pm ET. Topics covered will include the Company's expansion strategy through continued innovation and technology surrounding its distributed energy software. The chat will feature CleanSpark's Chief Executive Officer, Zachary Bradford and will be moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research. It will also cover growth opportunities that will come from the Company's strategic, accretive acquisition strategy, including potential expansion within target verticals.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1412720&tp_key=55bbb89d9e

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of it product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 
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Nov 19, 2020 9:29 AM

CleanSpark's GridFabric Finalizes OpenADR Certification for EV Fleet Charging Company Electriphi

CleanSpark's GridFabric Finalizes OpenADR Certification for EV Fleet Charging Company Electriphi

PR Newswire

SALT LAKE CITY , Nov. 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that its wholly owned subsidiary, GridFabric, has finalized an OpenADR certification for Electriphi, Inc. (Electriphi), an award winning EV fleet charging and energy management company. Electriphi's charging management platform has now been added to the official list of OpenADR certified products.

CleanSpark's GridFabric Certifies Electriphi-EV Fleet Charging for OpenADR

https://products.openadr.org/product/electriphi-inc-electriphi-charge-management-platform/

GridFabric's Plaid product provides companies like Electriphi with the fastest way to get their platform OpenADR certified and be fully enabled to participate in utility load shifting programs throughout the country.

Emerging from stealth mode in late 2018, Electriphi has launched and deployed its software and services with marquee customers across various sectors in the utility and fleet space, along with announcing funding and multiple partnerships.  Electriphi provides EV fleet planning services and tools for total cost of ownership calculation, as well as an EV energy management platform that saves energy and infrastructure costs while ensuring operational readiness for fleets.

Sanjay Dayal , Co-Founder and CTO of Electriphi, said of the announcement, "We were able to become fully certified much faster by partnering with GridFabric, becoming OpenADR Compliant with speed and accuracy furthers our strategy of guiding an open-standards based platform that is compatible across a variety of charging infrastructure and EV fleet vehicles. OpenADR certification ensures platform compatibility with leading utilities to integrate into their installation and demand response incentive programs and should be key to continued growth in 2021."

Zachary Bradford , CleanSpark's CEO commented, "We were thrilled to assist a cutting-edge company like Electriphi who brings the vision of clean, green technology to the EV fleet space.  GridFabric has certified eight EV companies since the Company's inception, with six highly diverse EV providers certified through our OpenADR solutions just this year. This is proving to be a great vertical in general, and GridFabric has been able to help a number of very exciting start-ups and fast growth tech companies expedite their go-to-market plan."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Electriphi

Electriphi, Inc. is a developer of award winning software solutions and services for EV fleet and energy management. It offers an open-standards based charging and operations management platform that saves energy costs and simplifies the transition to electric vehicle fleets. For more information, please visit https://www.electriphi.ai .

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the GridFabric Plaid product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Nov 10, 2020 9:25 AM

CleanSpark Adds Former Zappos Counsel and a New Vice President of Operations

CleanSpark Adds Former Zappos Counsel and a New Vice President of Operations

PR Newswire

SALT LAKE CITY , Nov. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that it has recently added Rachel Silverstein and Owen Cadwalader to its management team. Mrs. Silverstein is former Corporate Counsel at Zappos, a company owned by Amazon, Inc. Silverstein's role at CleanSpark is to serve as the Vice President of Compliance and General Counsel where she will be assisting in compliance, mergers and acquisitions, as well as all general legal matters. Mr. Cadwalader was most recently an executive with Molekule, a clean-air technology company. Prior to Molekule, Owen served as VP/Co-founder of OptiRTC a cloud software platform for smart water management. As VP of Operations, Cadwalader will oversee product delivery, customer experience, and help align multiple virtual office teams to further streamline operations.

CleanSpark Adds New VP and General Counsel from Zappos

These are the first significant additions to the team as part of a larger growth plan following the Company's recent $40M institutional investment. CleanSpark has stated that it intends to focus on growth through accretive opportunities and expansion of the Company's product offerings, in addition to adding to sales and marketing efforts. CleanSpark expects to add to its existing professional engineering teams in addition to sales and business development personnel.

Zachary Bradford , CleanSpark's CEO said, "We are very excited to have Mrs. Silverstein join the management team as it will provide increased efficiencies in all areas of our operations and compliance. We expect that by adding such experienced inside General Counsel we can streamline many processes and procedures, ultimately creating greater value for all stakeholders." Bradford then added, "Mr. Cadwalader's experience should begin to pay dividends to CleanSpark almost immediately. Previously, as VP/Co-founder of OptiRTC, Owen developed an expertise in monitoring and adaptive control of stormwater systems which makes him a great fit for CleanSpark's energy control technology. Essentially, critical water flow is managed through opening and closing water distribution valves and systems, similarly electrical energy is controlled by opening and closing critical circuit breakers."

Matthew Schultz , CleanSpark's recently-named Executive Chairman stated, "We expect these additions to represent the beginning of a new phase for the Company that will feature personnel expansion, product enhancements, and strategic acquisitions. We recently announced the development of the GridFabric SaaS (Software-as-a-Service) option, and plan to soon provide an EaaS (Energy-as-a-Service) offering as well. These initiatives will be supported by additional staff on the CleanSpark product and sales teams and through CleanSpark's wholly owned subsidiaries."

CleanSpark recently participated in Solar Power International, part of Smart Energy Week, where the Company's CTO Amanda Kabak was featured as a Presenter.  CEO Zachary Bradford also provided additional updates to investors on the company's funding via a presentation through the RenMark Investor Roadshow. Both recordings can be found on the events page at https://ir.cleanspark.com .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Nov 3, 2020 9:00 AM

CleanSpark Announces Platinum Sponsorship at Microgrid 2020 Global Conference

SALT LAKE CITY, Nov. 03, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, November 3, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), (the "Company) a diversified software and services company, today announced that it will be one of the Platinum Sponsors at the upcoming Microgrid Knowledge 2020 Global Conference, held November 17-19. This is the largest conference that focuses solely on Microgrids, and it will have hundreds of decision makers from all aspects of the industry in attendance. Participants are expected to represent utilities, developers and policymakers interested in microgrids and advanced distributed energy solutions.

As a Platinum Sponsor, the Company will be provided with a number of featured placements within the conference communication and virtual tradeshow environment. CleanSpark was previously asked to participate in an expert roundtable on the future of microgrid controls. Amanda Kabak, CleanSpark's CTO, will discuss technology advancements surrounding software and controls in the session, and in particular how they are helping optimize microgrids to efficiently achieve greater resiliency and cost savings.

CleanSpark's CEO Zachary Bradford stated, "Having an existing, long-term relationship with Microgrid Knowledge, this is an opportunity to grow our partnership, and get our sales and business development teams in front of numerous additional prospects. We invest significant resources working with distributed energy, solar, and storage partners, and this forum connects us directly to our main target market. This global conference allows us a means to present to customers seeking microgrids, whether through mVSO for energy modeling and proposals or mPulse controls to optimize a microgrid to enhance savings and resiliency.

Kevin Normandeau, Publisher of Microgrid Knowledge, and organizer of the event said of CleanSpark's sponsorship, "We were excited to have CleanSpark join as a Platinum Sponsor and add another innovative microgrid technology company to a list of organizations that will be in attendance. Microgrid Global 2020 is our annual event which brings together hundreds of the most advanced energy companies and the decision-makers that want to learn and engage with microgrid technology providers."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Microgrid Knowledge:

Microgrid Knowledge leads the way providing news on microgrids and distributed energy resources. Microgrid 2020 Global is a highly interactive event for microgrid leaders to meet and shape the course to 2030. Gain insight into the latest opportunities, new business models, and trends in financing and policy. Network with prospects and partners on our sophisticated platform.  For more information on the conference, visit: https://microgridknowledge.com/microgrid-2020-conference/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
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Nov 2, 2020 9:00 AM

CleanSpark CEO Zach Bradford to Participate in Water Tower Research Fireside Chat Series: Microgrid Optimization Technology to Help Power Industry Expansion

SALT LAKE CITY, Nov. 02, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, November 2, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company that focuses on software for Microgrid Modeling and Controls will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Tuesday, November 3, 2020, at 3:00 pm ET. Topics covered by Mr. Bradford, CEO, and moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research, will be centered around the Company's technology innovation in microgrid control optimization for cost savings and resiliency.  It will also address recent funding and growth of the company thru sales and product development and acquisition.

During this fireside chat, Bradford will share how CleanSpark is strategically poised to take advantage of the large growth opportunity with the increase in demand for Microgrid solutions including Solar PV and Energy Storage. The discussion will also analyze the strategy behind CleanSpark's Energy-as-a-Service initiative as well as the benefit provided by recent acquisition of GridFabric which creates OpenADR software solutions for Demand Response compliance.

The global market for microgrids is rapidly expanding. According to Navigant Research, the Global Market for Microgrids is expected to experience a 28% Compound Annual Growth Rate from 2020-2029 nearing $40 billion.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1394269&tp_key=718ac75801

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations CleanSpark, Inc. (801)-244-4405 
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Oct 28, 2020 9:25 AM

CleanSpark Announces Two New EV Contracts for GridFabric Software Subscriptions

CleanSpark Announces Two New EV Contracts for GridFabric Software Subscriptions

PR Newswire

SALT LAKE CITY , Oct. 28, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced that it has received two contracts with EV (Electric Vehicle) companies for the first deployments of its 'Plaid' product, sold as a software subscription.  The contracts were executed through CleanSpark's wholly-owned subsidiary GridFabric. GridFabric creates software solutions that help power utilities and IoT (Internet of Things) products that manage energy loads. Plaid specifically allows products of all types to add load shifting capabilities by translating load shifting protocols into their existing APIs.

CleanSpark Signs Multiple Software Service Contracts Within EV Sector

Prior to their acquisition by CleanSpark in August 2020 , all of GridFabric's OpenADR solutions had been sold under a perpetual licensing agreement, which represented a one-time sale. One of the stated goals at the time of acquisition for CleanSpark was to transition to a new cloud-based subscription option for the software which will generate long term, recurring revenue.

The benefits of transitioning to a SaaS model include improvements to the platform and implementing services, ease of maintenance, and enhanced cyber-security measures. Additionally, new features are being added that were previously only enabled with on-site updates or re-installation.

Zach Bradford , CEO of CleanSpark said of the contract, "GridFabric specializes in providing communication protocols to cleantech energy and EV companies, enabling them to participate in wholesale markets and communicate directly with utilities. Large, up-front fees for the protocols and communications certification process can be prohibitive for some companies. Under a subscription or SaaS model the customer is able to make ongoing monthly payments rather than a large lump sum. We expect this structure to attract more customers thereby creating an even stronger reoccurring revenue base.  Reducing the cost of entry into OpenADR certification should also accelerate market growth as a whole and increase pull-through demand for CleanSpark's full suite of products industry-wide."

Mr. Bradford continued, "We intend to further enhance the SaaS offerings by developing a platform that will host the existing 'Plaid' and 'Canvas' products along with future product releases, such as protocols for IEEE 2030.5 within a single ecosystem.  These improvements will enhance a user's ability to more rapidly integrate new protocols without needing to shift platforms. The monthly fees will also enable GridFabric and CleanSpark to rely on long-term subscription-based revenues to support new feature developments and platform expansion as a whole. SaaS is about ease of use and functionality, and we are excited to be able to offer this as an option to a larger number of potential customers."

Parties interested in learning more about GridFabric products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.gridfabric.io

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About GridFabric:

GridFabric creates OpenADR software solutions that help power utilities and IoT products and Companies to shed, shift, shimmy and shape peak load. The Company provides advanced OpenADR software Solutions. Our software and services are uniquely capable of enabling Customers to rapidly gain the necessary certifications to communicate with utilities and other energy products.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 21, 2020 9:25 AM

CleanSpark Reports Annual Revenues of $10M

CleanSpark Reports Annual Revenues of $10M

PR Newswire

SALT LAKE CITY , Oct. 21, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (the "Company") a diversified software and services company, today reported preliminary unaudited revenue for its fiscal year ended September 30, 2020 in excess of $10.0 million .  This achievement represents a 222% increase in gross revenues over the company's 2019 fiscal year-end results.  These figures represent a fourth consecutive year of record-breaking annualized revenues.

In addition, the Company reaffirms its target of $20M in gross revenue for its 2021 fiscal year.  The Company will be investing in growth with a focus on higher margin software and service sales. CleanSpark currently has an executed contracted backlog exceeding $6.0 million and a proposal pipeline exceeding $12.0 million .

"Achieving our target revenue of $10.0 million for 2020 in the face of navigating a global pandemic represents a significant accomplishment for our team.  We believe that this further demonstrates our continued progress in establishing CleanSpark as a leader in advanced software and controls for energy management systems, validated by the multinational partnership agreements we've executed, stated Zachary Bradford , the company's Chief Executive Officer. "We are still in the early stages of what we believe is a multi-year trend towards expanding microgrid applications worldwide.  Securing $40.0 million in institutional capital earlier this month strengthens our ability to capitalize on this trend as we continue to expand CleanSpark's operations, offerings and critical personnel," concluded Bradford.

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. These forward-looking statements include statements regarding the Company's unaudited preliminary financial and operational results for the full year 2020 and expected growth in 2021.  The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation, changes resulting from the Company's finalization of its financial statements for and as of the period and year ended September 30, 2020 , information or new changes in facts or circumstances that may occur prior to the filing of the Company's Annual Report on Form 10-K that are required to be included therein, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 15, 2020 9:25 AM

CleanSpark Announces New Microgrid Hardware Order

CleanSpark Announces New Microgrid Hardware Order

PR Newswire

SALT LAKE CITY , Oct. 15, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it has been awarded a $370,000 order for its intelligent automatic transfer switch (ATS) switchgear. The Company's intelligent switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage, thus assuring uninterrupted power.  These intelligent units also allow the system owner the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. This order represents a follow-on order for a Houston, TX based energy developer specializing in natural gas turbine powered microgrids.  The final deployments of these units are expected to be on multiple Texas locations of the nation's largest retail chain.

"This intelligent switchgear order further validates CleanSpark's unique energy solutions and strengthens our strong revenue outlook to begin our new fiscal year.  Increasing frequency of power outages due to grid instability, natural disasters and wildfires is expected to result in significant continued interest for both our hardware and software solutions," stated Zachary Bradford , CleanSpark's Chief Executive Officer.

Parties interested in learning more about CleanSpark's products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its hardware, software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Oct 13, 2020 9:25 AM

CleanSpark Subsidiary p2klabs Executes $1M Contract

CLSK-wins-contract

CleanSpark Subsidiary p2klabs Executes $1M Contract

PR Newswire

SALT LAKE CITY , Oct. 13, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced that its wholly-owned subsidiary p2klabs (p2k) has received an extension of its professional services contract from LAWCLERK.LEGAL (LAWCLERK) valued in excess of $1 million . p2k is a digital design, marketing, and software development agency in addition to internally supporting CleanSpark's software sales, marketing and user experience team.

CleanSpark Wins Million-Dollar Contract

The client, LAWCLERK, is a B2B legal services marketplace where attorneys can hire freelance lawyers and other professional services. p2klabs has been instrumental in all aspects from concept to execution and development of LAWCLERK's platform, including mobile experience. As LAWCLERK plans to become a leading provider of B2B online legal services in the next year, the 16-month extension with p2k focuses on the execution of innovative design and development initiatives. These enhancements are expected to further strengthen LAWCLERK's standing in the legal marketplace. In addition, the p2klabs team will continue to provide business strategy, project management, and technical support services.

On the recent developments, CleanSpark's CRO and p2klabs founder Amer Tadayon stated, "This contract renewal shows that not only can we attract new business, but we have also proven our value as a trusted partner with our clients. Continuing to work with LAWCLERK and adding a developer like ILAL shows our capability to grow existing business and attract major clients in our target verticals which include energy, hotel/gaming, legal, and healthcare. We have been extremely fortunate to retain existing clients and add new business even during this economic downturn.  The support and resources garnered as a result of our acquisition by CleanSpark have enabled p2klabs to increase our focus on execution and growth."

Greg Garman , Co-founder and CEO of LAWCLERK.LEGAL commented, "We've been extremely pleased with p2k's efforts thus far and are excited to continue our partnership which has contributed to exponential growth over a short period of time. Their diverse service offerings which complement our team will expand the capabilities of our legal platform to make a fundamental and lasting change to the practice of law."

Parties interested in learning more about p2klabs products and services are encouraged to inquire by contacting the Company directly at hello@p2klabs.com or visiting the Company's website at www.p2klabs.com

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About p2klabs:
p2klabs, a CleanSpark company, is a marketing, design, and development agency based in Las Vegas, NV. Our services consist of innovation consulting and business process methodologies. We orchestrate national digital marketing, and demand generation campaigns for leading companies and product lines. From product launch to growth marketing, and sales process refinement, our team has top-level design and marketing resources to take concepts to successful strategies.

About LAWCLERK.LEGAL:
LAWCLERK's mission is to improve the lives of lawyers and the legal industry. With LAWCLERK's help, lawyers can be better at what they do, get more done - faster, produce better legal work - cheaper, and make more money, all while lowering the cost of legal services to their clients. For more information go to: https://www.lawclerk.legal/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 9, 2020 2:22 PM

CleanSpark Announces Closing of $40.0 Million Underwritten Public Offering

CLEANSPARK-closing

CleanSpark Announces Closing of $40.0 Million Underwritten Public Offering

PR Newswire

SALT LAKE CITY , Oct. 9, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced the closing of its previously announced underwritten public offering of 4,444,445 shares of common stock at a public offering price of $9.00 per share for aggregate gross proceeds of approximately $40.0 million .

CleanSpark Announces $40M Underwritten Public Offering

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

CleanSpark intends to use the net proceeds from the offering for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, and general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the securities was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering is being made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website located at https://www.sec.gov and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

Procopio, Cory, Hargreaves & Savitch LLP served as legal counsel to CleanSpark and Ellenoff Grossman & Schole LLP served as legal counsel to H.C. Wainwright & Co. in connection with the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: higher than expected offering expenses, market and other conditions, the Company's intended use of proceeds, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Oct 6, 2020 10:04 PM

CleanSpark Announces Pricing of $40.0 Million Underwritten Public Offering

CLEANSPARK-Offering

CleanSpark Announces Pricing of $40.0 Million Underwritten Public Offering

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, tonight announced the pricing of its previously announced underwritten public offering of 4,444,445 shares of common stock at a public offering price of $9.00 per share.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The gross proceeds are expected to be approximately $40.0 million , before deducting underwriting discounts and commissions and other offering expenses payable by the Company.  The offering is expected to close on or about October 9, 2020 , subject to satisfaction of customary closing conditions.

CleanSpark intends to use the net proceeds from the offering for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, and general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering is being made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus related to the offering were filed with the SEC and a final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus will be available on the SEC's website located at https://www.sec.gov and may also be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: market conditions, our ability to satisfy the conditions to closing of the offering and other matters affecting our ability to consummate the offering; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Oct 6, 2020 5:12 PM

CleanSpark Announces Proposed Underwritten Public Offering of Common Stock

CLEANSPARK-Offering

CleanSpark Announces Proposed Underwritten Public Offering of Common Stock

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it intends to offer and sell shares of its common stock in an underwritten registered public offering.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

H.C. Wainwright & Co. is acting as the sole book-running manager for the proposed offering.

CleanSpark intends to use the net proceeds from the offering, if completed, for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the shares being offered was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering will be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at https://www.sec.gov . Alternatively, electronic copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: market conditions that may affect the timing, terms and conditions of the offering, our ability to satisfy the conditions to closing of the offering and other matters affecting our ability to consummate the offering on terms acceptable to us; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Oct 6, 2020 9:00 AM

CleanSpark Enters EV Charging Market Through GridFabric Platform

CLEANSPARK-ev-charger

CleanSpark Enters EV Charging Market Through GridFabric Platform

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it is entering the Electric Vehicle (EV) charging station space through its recently acquired, wholly-owned subsidiary GridFabric, LLC. GridFabric is an OpenADR (Automatic Demand Response) communications compliance and certification company. The new initiative will be focused on providing software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.

CleanSpark Enters EV Charging Market

On September 23, 2020 , California Governor Gavin Newsom announced a phase out of gasoline-powered cars by 2035 as part of the State's fight against climate change. As part of the initiative the Office of the Governor stated, "To ensure needed infrastructure to support zero-emission vehicles, the order requires state agencies, in partnership with the private sector, to accelerate deployment of affordable fueling and charging options. It also requires support of new and used zero-emission vehicle markets to provide broad accessibility to zero-emission vehicles for all Californians."

EV fast-charging will create an additional burden on the existing, aging power grid.  Public utilities will likely need to upgrade their existing infrastructure to handle the additional load, as well as rely more on demand management programs and load-balancing to increase overall grid stability. EV charging locations that plan to participate in these programs will be required, in certain jurisdictions, to utilize certified communications protocols.

The OpenADR protocol allows EV charging companies and their customers to communicate with the utilities for demand response programs.  These programs, in turn, allow the utility to more easily manage power distribution to the grid.

GridFabric offers a method of rapidly implementing OpenADR and providing the corresponding certification. GridFabric has provided its OpenADR software to two EV charging companies since its acquisition by CleanSpark in August 2020 and has additional proposals pending with a number of EV charging companies.

Parties interested in learning more about GridFabric products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.gridfabric.io

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Oct 1, 2020 9:25 AM

CleanSpark Highlights Advantages of Federal Energy Regulation Commission Ruling

CLEANSPARK-FERC

CleanSpark Highlights Advantages of Federal Energy Regulation Commission Ruling

PR Newswire

SALT LAKE CITY , Oct. 1, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced its support for FERC Order Number 2222 that should help aggregated distributed energy resources (DERs) compete alongside and work with traditional power utilities. In its published opinion thoroughly investigating the ruling, the National Law Review concluded "FERC's new rules could prove to be a disruptive and transformative change to electric utilities and the electric industry broadly."

Reacting to the late September ruling, Zach Bradford , CEO of CleanSpark said, "This is a significant win for clean energy and alternative energy production. This ruling should transform the microgrid industry by promoting competition in electric markets by removing the existing barriers that have favored utilities for decades.  Historical policy restrictions have prevented DER (Distributed Energy Resources) and microgrid participants like CleanSpark from competing in energy and ancillary services markets currently monopolized by regional grid operators."

"This ruling should enable DERs, including alternative power generators, solar developers, and battery manufacturers to participate alongside traditional resources to provide new sources of energy and grid services. It should help provide a variety of benefits including lower costs for energy consumers, more grid flexibility and resilience, and more innovation within the electric power industry."

Mr. Bradford concluded, "Specifically, several sources of distributed electricity should now be allowed to aggregate in order to satisfy minimum size and performance requirements that each may not be able to meet individually.  Regional grid operators will be required to revise their tariffs to establish DERs as a category of market participant.  Prior to this ruling, DERs could contribute to Independent System Operator ("ISO") and Regional Transmission Organization ("RTO") markets via demand response mechanisms, but this opens the door to substantially more value for DERs. The specific tariff updates from each RTO/ISO will be released in the near future, and we expect them to reach full effect over the coming years.  Over the past several projects, CleanSpark has demonstrated its unique ability to provide a fully-integrated software suite that we feel will absolutely disrupt an antiquated and over-burdened industry."

Matthew Schultz , CleanSpark's Chairman commented "This is a massive policy shift in favor of the microgrid market in particular. It should open up additional value streams for microgrid developers and owners to fully participate in wholesale markets. These opportunities are expected to dramatically improve microgrid economics and stimulate future deployments. Microgrid developers of all sizes should now be able to leverage CleanSpark's robust portfolio of patented technologies to tap into these opportunities and offer significant value for their customers. The recent acquisition of GridFabric provides additional 'first-mover' benefits to CleanSpark's core product line by adding a certified communications protocol.  The opportunity to offer these certifications 'out of the box' delivers a significant head start in grid optimization technology for our customers and partners, which is even more valuable with this FERC ruling."

Ben DuPont , co-founder of GridFabric, and CleanSpark's newly appointed VP of Software Engineering who has worked in OpenADR for over 8 years and was an early implementer of the protocol stated, "FERC 2222 should allow for significantly more opportunities for new market participants. With its footprint in ISO and RTO market and position in the controls market, CleanSpark is well suited to capitalize on this development."

Matt Hale , co-founder of GridFabric and newly appointed VP of Product Management for GridFabric said, "FERC 2222 should lead to a significant increase in DER activity from all types of companies, including DER aggregators, microgrid controls like CleanSpark, thermostats, water heaters, rooftop solar panels, storage, EV chargers and more. Open protocols such as OpenADR and IEEE 2030.5 should be table stakes to participate in these markets, and our products let these companies implement them faster and more cost effectively, allowing them to focus on what they do best."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: changes in regulatory conditions, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Sep 23, 2020 9:25 AM

CleanSpark Awarded US Embassy Contract

CLEANSPARK-US-embassy

CleanSpark Awarded US Embassy Contract

PR Newswire

SALT LAKE CITY , Sept. 23, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("the Company") a diversified software and services company announced that it received a contract to provide intelligent switchgear upgrades and support for a US Embassy located on the African continent.

According to the agreement, CleanSpark will service the paralleling switchgear controls at the Embassy for a term of 5 years including upgrades to the equipment.  Additionally, the Company will provide technical and online support to Embassy personnel. Trained on systems utilizing a variety of operating modes, CleanSpark field service technicians and engineers are capable of servicing or upgrading switchgear installed by CleanSpark's Critical Power Division, as well as all other paralleling switchgear brands. Maintenance and upgrades will be performed by the CleanSpark team, which is proficient in design and start-up, troubleshooting, training, and providing maintenance on switchgear, paralleling controls, and power distribution equipment.

CleanSpark's CEO Zach Bradford said, "This is another exciting development for our intelligent switchgear business. Our team has continued to experience strong sales of our hardware-based solutions, and recently we've seen an increase in the maintenance, upgrades, and technical support segments as well. We are excited to have prevailed on this competitive government contract. Aside from the overall economic value, our proposal leverages our prior expertise on secure government projects, as well as the knowledge base and aptitude of the professionals within our staff."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Sep 21, 2020 9:35 AM

CleanSpark Commissions Software on New Microgrid Featuring Tesla Batteries

CleanSpark-microgrid

CleanSpark Commissions Software on New Microgrid Featuring Tesla Batteries

PR Newswire

SALT LAKE CITY , Sept. 21, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), "the Company", a diversified software and services company announced the commissioning of its software on a new solar plus storage microgrid project in Central America . CleanSpark is partnered with an energy developer to deploy this unique solution for Micro Technologies SA, a major international assembly and manufacturing company. This microgrid is for their new factory located in the San Jose , Alajuela Province of Costa Rica .

The local clean-energy developer focuses on distributed power generation, storage, and management. They have installed some of the first microgrids in Latin America . This collaborative project between the two companies will incorporate grid-tied solar and energy storage systems primarily to offset utility energy costs. The secondary function of the system is to provide backup power during utility outages from construction through commissioning of the complex, as well as when facility is fully operational.

CleanSpark is providing its patented mPulse controls with market-based forecasting and operation. The Company has also procured and will incorporate the Tesla (Nasdaq:TSLA) PowerPack 2 battery energy storage system which will provide 558kW/1115kWh storage. Additionally, the project's solar installation includes 480kW AC, 531kW DC of PV (photovoltaic) solar panels. This represents the second microgrid located in Costa Rica with an mPulse controller paired with a Tesla energy storage solution.

MicroTech is a components and systems manufacturer for Fortune 500 companies which represent a multitude of industries including robotics, automotive, aerospace, and telecommunications. CleanSpark's mPulse controller will provide MicroTech with a means of reducing utility operating costs. This is accomplished by storing and/or shifting solar production through operation of the Tesla Powerpack ensuring consistent operation and resiliency. In the event of a power disruption from the grid, the energy storage system will be utilized to provide backup electricity to the manufacturing facility. This will help significantly reduce the financial impact associated with power outages during the manufacturing process of these sensitive products and equipment. The utilization of the AC-coupled solar array, also operated and managed by CleanSpark's mPulse software, will further extend the resiliency of the system.

Zach Bradford , CEO of CleanSpark commented, "We are extremely pleased to have partnered with local energy professionals on another microgrid project in Costa Rica . In addition to assisting the developer to provide resilient power and cost savings for MicroTech on a remote location, this system provides renewable clean-energy, an objective stated by the country of Costa Rica , in their pursuit of being powered by 100% renewables This edict is enthusiastically supported by CleanSpark and our local partners. We look forward to continuing to utilize our technologies to provide energy certainty, clean power, and cost avoidance throughout the region."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

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Sep 10, 2020 9:35 AM

CleanSpark Announces Multi-Unit Switchgear Contract and Expansion into New Markets

SALT LAKE CITY, Sept. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it has received a contract for multiple units of its intelligent switchgear equipment from a long-term energy development partner based in Houston, TX.

The two companies have now collaborated on over 100 unique microgrid projects for which CleanSpark has provided its custom intelligent switchgear. CleanSpark's ATS solutions have previously been installed by the same partner to provide resilient microgrids for a large grocery store chain and for the world's largest retailer. CleanSpark expects additional units to be ordered in the coming months in continued support of these end-use clients.

The most recent orders are for five Switchgear units, three of which will be installed on a surface water pumping station in the Houston area. The two additional units were ordered for a Texas-based grocery chain that has CleanSpark Switchgear currently deployed on several of their locations. The microgrids that incorporate the intelligent ATS solutions not only monitor increasing demand intervals from the utility in order to optimize energy consumption, but also provide a reliable back-up energy solution. This 'baked-in' resiliency keeps the site operational even during extended utility outages caused by events such as hurricanes. The latest orders are expected to add additional revenue that CleanSpark will recognize during the coming quarter. CleanSpark has shipped in excess of $7.4 million in Switchgear during the current fiscal year.

"Providing our intelligent switchgear solutions for a microgrid on a critical water pumping facility represents an entirely new market segment for the company," stated CleanSpark's Chief Executive Officer, Zachary Bradford.  "The continuing, successful deployments of CleanSpark's unique hardware and software technologies in mission-critical environments have expanded the applications for our offerings. We are pleased that we can leverage our vast experience in military, commercial and industrial energy systems to support our customers as they expand into new business segments." He concluded.

Parties interested in learning more about CleanSpark's Switchgear are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at  www.cleanspark.com/switchgear.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at  https://ir.cleanspark.com/ 

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 1, 2020 10:00 AM

CleanSpark Announces Microgrid Software Deployment in Costa Rica

SALT LAKE CITY, Sept. 1, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced the successful deployment of the company's mPulse software on its latest microgrid project in Central America. 

Located on an industrial equipment retail facility in San Jose, Costa Rica, the project utilizes CleanSpark's patented mPulse controller to coordinate all aspects of the system and improve overall performance.  The microgrid will consist of a 222-kW PV solar system, and a Tesla 111-kW/223kWh Powerpack provided by CleanSpark.  The system is integrated with standby diesel generation for use in the event of a sustained power disruption.  This will be one of the first Tesla (Nasdaq: TSLA) battery systems deployed in Costa Rica. 

During system operations, the mPulse controller, utilizing operating parameters identified and modeled through our mVSO software, is expected to significantly reduce the use of grid power.   The Tesla battery energy storage system will be intelligently controlled by mPulse to shave peak demand and improve the overall project economics and ensure long-term cost avoidance.  Additionally, this project will reduce greenhouse gas emissions to assist the Costa Rican people to close the gap on their goal to become the world's first carbon neutral country. 

Many countries in Latin America share a central 1,100 mile long power grid, as a result, a disruption in Nicaragua, El Salvador, Panama or Costa Rica can affect the others within the region.  Costa Rica experienced a nationwide power outage in 2017 as a result of a downed power transmission line in Panama. The impacts of these disruptions can potentially cause millions of dollars in losses for commercial, industrial and agricultural customers.  One of the key value propositions of a CleanSpark microgrid is the ability to provide energy certainty during unplanned outages, as well as meaningful, long-term economic benefits.

"Over the last four years, Costa Rica has generated more than 95% of its domestic electricity from renewable energy.  In 2018, nearly 75% of all national renewables came from hydropower.  Recent drought conditions have threatened the consistency of that supply, and the country has been more reliant on wind production.  This CleanSpark powered system utilizes proprietary forecasting, driven, not only by the end-user's energy consumption behaviors and utility rates, but a multitude of other factors, including forecasted weather patterns," stated Matt Schultz, CleanSpark's Chairman. "Having an intelligent, fully-automated hybrid-cloud controller allows the end-user the security of knowing the vectors they have identified as priority are being met without any requirement for a 'man in the loop'," continued Schultz.

Zach Bradford, CEO of CleanSpark stated, "This represents the second project and first large scale deployment of our mPulse software and controls in Costa Rica.  As part of our plans to expand internationally we have identified significant opportunities in Latin America.  Costa Rica and Mexico are the first countries we are targeting with plans to expand to the Brazilian and Panama market in 2021.  The international markets present opportunities for CleanSpark as we are uniquely positioned to solve significant problems including improving power quality, increased power resiliency and cost savings amongst others."  Mr. Bradford continued, "This deployment in particular is also important in demonstrating how our software can help multiple stakeholders involved in an energy project achieve each of their differing goals by leveraging our technology.  In this case the end-user of the power is able to achieve cost reductions and targeted sustainability and resiliency goals. The developer is able to provide certainty performance while remaining cost competitive in a traditionally challenging energy market. We are optimistic on the future of the markets we are seeing both internationally and domestically and we expect to expand our presence in conjunction with our local partners as they embark on a new era of microgrid and energy development in Costa Rica."

Parties interested in learning more about CleanSpark's Microgrid platform are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the ability of our software to produce the expected energy benefits, expectations of future growth of CleanSpark  may not be realized, timing of deliveries, ongoing demand for our software products, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

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SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 1, 2020 9:30 AM

CleanSpark to Present at the LD500 Virtual Conference

SALT LAKE CITY, UT / ACCESSWIRE / September 1, 2020 / CleanSpark, Inc. (NASDAQ:CLSK), a diversified software and services company today announced that it will be presenting at the LD 500 investor conference on Thursday, September 3rd, 2020. CleanSpark's Chairman, Mr. Matthew Schultz will be presenting live to a virtual audience. Participants wishing to register may do so at https://ld500.ldmicro.com/.

The Corporate presentation will be on Thursday, September 3, 2020, at 3:40 p.m. ET, is available via live webcast and in archive for up to 90 days following the conclusion of the event at https://www.webcaster4.com/Webcast/Page/2019/36853

"We have been waiting for this moment all year long. Due to COVID, it has been nearly impossible for physical conferences to even take place. I want to show the world that you can still learn, have a great time, and see some of the most unique companies in the capital markets today. All without having to step foot outside. For the first time, LD Micro is accessible to everyone, and we are honored to welcome you to one of the most trusted platforms in the space." stated Chris Lahiji, Founder of LD.

The LD 500 will take place on September 1st through the 4th.

View CleanSpark's profile at: https://www.ldmicro.com/profile/CLSK

Profiles powered by LD Micro - News Compliments of Accesswire

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About LD Micro

Back in 2006, LD Micro began with the sole purpose of being an independent resource to the microcap world.

What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space.

The upcoming "500" in September is the Company's most ambitious project yet, and the first event that is accessible to everyone.

For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the ability to successfully integrate GridFabric into CleanSpark's business and operations, the expectations of future revenue growth may not be realized, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

SOURCE: CleanSpark Inc.



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https://www.accesswire.com/604182/CleanSpark-to-Present-at-the-LD500-Virtual-Conference

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Aug 31, 2020 5:00 PM

LD Micro 360 Companies Set to Present this Week

LOS ANGELES, CA / ACCESSWIRE / August 31, 2020 / LD Micro today announced the final list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

Registration details and the company schedule can be seen here: https://ld500.ldmicro.com

"I have slept well since March," said Chris Lahiji, Founder of LD Micro.

The list of presenters in below:

1847 Goedeker

GOED

1847 Holdings LLC

EFSH

22nd Century Group, Inc.

XXII

AcelRx Pharmaceuticals, Inc.

ACRX

Acer Therapeutics

ACER

Acme United Corp

ACU

Actinium Pharmaceuticals, Inc.

ATNM

AcuityAds

AT.TO

ADDvantage Technologies Group, Inc.

AEY

Adial Pharmaceuticals Inc.

ADIL

Aditxt Therapeutics

ADTX

Advaxis

ADXS

Aehr Test Systems

AEHR

AIkido Pharma Inc.

AIKI

AIM ImmunoTech Inc.

AIM

Air Industries Group

AIRI

Akerna

KERN

Alfi Inc.

PRIVATE

Algernon Pharmaceuticals

AGNPF

Alimera Sciences

ALIM

ALJ Regional Holdings

ALJJ

Allot

ALLT

Alpine 4 Technologies

ALPP

Altigen Communications

ATGN

American Resources Inc.

AREC

American Shared Hospital Services

AMS

AnalytixInsight Inc.

ALY

Annovis Bio

ANVS

Antibe Therapeutics

ATE.V

Apollo Endosurgery, Inc.

APEN

Applied Energetics, Inc.

AERG

Aptorum Group Limited

APM

Aqua Metals

AQMS

AquaBounty Technologies

AQB

Arch Therapeutics

ARTH

Arcimoto

FUV

Arcturus Therapeutics

ARCT

Artelo Biosciences, Inc.

ARTL

Assure Holdings

ARHH

Asure Software

ASUR

Atomera Incorporated

ATOM

Atossa Therapeutics, Inc.

ATOS

AutoWeb, Inc.

AUTO

Avivagen

VIVXF

Axos Financial

AX

AYRO Inc

AYRO

AzurRx BioPharma, Inc.

AZRX

Ballantyne Strong Inc

BTN

Barfresh Food Group

BRFH

Bel Fuse, Inc.

BELFA

BELLUS Health

BLU

BIO-key International

BKYI

BioCardia, Inc.

BCDA

Biocept, Inc.

BIOC

Bioceres Crop Solution

BIOX

BioHiTech Global

BHTG

BioLargo, Inc.

BLGO

Biolase, Inc.

BIOL

Biomerica

BMRA

BioSig Technologies

BSGM

BioSyent Inc.

RX.V

BK Technologies

BKTI

BlackBoxStocks, Inc.

BLBX

Blink Charging

BLNK

BlueCity

BLCT

Blueknight

BKEP

Boxlight Corporation

BOXL

Bridgeline

BLIN

Bright Mountain Media

BMTM

C-Bond Systems

CBNT

Caladrius Biosciences

CLBS

Calmare Therapeutics

CTTC

Calyxt, Inc.

CLXT

Camtek Ltd.

CAMT

Can B Corp.

CANB

Can-Fite BioPharma, Ltd.

CANF

Capricor Therapeutics

CAPR

Capstone Turbine

CPST

CEL-SCI Corporation

CVM

Celsius Holdings, Inc.

CELH

CEMATRIX Corporation

CVX.V

Cemtrex, Inc.

CETX

Chicken Soup for the Soul Entertainment

CSSE

ChromaDex

CDXC

Citius Pharmaceuticals, Inc.

CTXR

Cleanspark

CLSK

ClearOne Communications Inc.

CLRO

CloudMD Software

DOCRF

CLPS Incorporation

CLPS

Compass Diversified Holdings

CODI

Converge Technology Solutions

CTS

Conversion Labs

CVLB

Crown EK

CRKN

CTG

CTG

Cure Pharmaceutical

CURR

CynergisTek, Inc.

CTEK

Cytosorbents Corporation

CTSO

Data443 Risk Mitigation

ATDS

Delcath Systems Inc.

DCTH

Diginex

JFK

Digirad Corporation

DRAD

Digital Ally

DGLY

Dolphin Entertainment Inc.

DLPN

DPW Holdings, Inc.

DPW

Driven Deliveries, Inc.

DRVD

Dyadic International, Inc.

DYAI

Edesa Biotech, Inc.

EDSA

ElectraMeccanica Vehicles Corp.

SOLO

electroCore

ECOR

eMagin

EMAN

ENDRA Life Sciences Inc.

NDRA

Energous

WATT

Energy Focus, Inc.

EFOI

Energy Fuels

UUUU

Enthusiast Gaming

EGLX

EnviroLeach Technologies Inc.

EVLLF

Envision Solar

EVSI

Esports Entertainment Group

GMBL

Evogene

EVGN

Excellon Resources

EXLLF

Exro Technologies Inc

XRO

FAT Brands Inc.

FAT

FinCanna Capital

CALI.CN

Flux Power Holdings

FLUX

Foresight Autonomous Holdings Ltd.

FRSX

Fortress Biotech

FBIO

Freedom Holding Corp.

FRHC

Futuris

MISM

Genasys Inc.

GNSS

Genprex, Inc.

GNPX

Gigatronics

GIGA

Global Crossing Airlines

JETMF

Global Self Storage

SELF

Goldmoney Inc.

XAUMF

GOLO Mobile Inc.

GOLO

Greenbox POS

GRBX

Greenbrook TMS NeuroHealth Centers

GTMS

Grom Social Enterprises

GRMM

GSI Technology

GSIT

HealthWarehouse.com, Inc.

HEWA

Helius Medical Technologies

HSDT

Heritage Global, Inc.

HGBL

Heritage Insurance Holdings, Inc.

HRTG

Hill Street Beverage Company Ltd.

BEER.V

Hoth Therapeutics, Inc

HOTH

Humanigen, Inc.

HGEN

iCAD

ICAD

iConsumer Corp

RWRDP

Ideal Power

IPWR

Ideanomics

IDEX

IDEAYA Biosciences

IDYA

IDW Media

IDWM

IEC Electronics

IEC

IMAC Holdings

IMAC

ImmunoPrecise Antibodies

IPATF

Immunovia AB

IMMNOV

IMV Inc.

IMV

Indonesia Energy Corporation

INDO

InfuSystems

INFU

Innovative Food Holdings

IVFH

Inpixon

INPX

InspireMD

NSPR

Intellicheck, Inc.

IDN

Interlink Electronics

LINK

inTEST Corporation

INTT

Inuvo, Inc.

INUV

Issuer Direct Corporation

ISDR

JanOne Inc.

JAN

Jerash Holdings

JRSH

Kandi Technologies

KNDI

Killi Ltd.

MYID

Kindred Biosciences

KIN

Kintara Therapeutics, Inc.

KTRA

Know Labs, Inc.

KNWN

Kontrol Energy Corp.

KNRLF

KULR Technology Group

KULR

Lantern Pharma

LTRN

Leat