Company negotiates option upgrade to new S21
Pros, increasing the total purchased hashrate by 17%, to 23.4
EH/s
The Company reached its new hashrate high as
its recently acquired data center in Dalton, GA, goes online
LAS
VEGAS, April 12, 2024 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK),
America's Bitcoin Miner™, today announced it
has exceeded 17 exahashes per second (EH/s) of operating hashrate
and has exercised its option to purchase 100,000 Bitmain S21 Pros,
or 23.4 EH/s of machines.
The machine purchase is an amendment to an existing agreement
with Bitmain announced earlier this year. The amendment allowed the
Company to purchase the S21 Pro model instead of the S21. The cost
per terahash is maintained at the industry low price of
$16 per terahash for the more
efficient miner.
The S21 Pro operates at 15 joules per terahash (J/TH), a 14
percent improvement over the S21 miner which is currently the most
efficient miner available on the market at 17.5 J/TH. The improved
efficiency of the S21 Pro means that the company will still acquire
the same number of machines, but with a 17 percent increase in
hashrate, or approximately 3.4 EH/s more hashrate.
"Efficiency is the most important variable as we head into the
halving," said Zach Bradford, CEO.
"With the upgrade to the new S21 Pro, we expect that we have
cemented our lead as the most efficient publicly traded
bitcoin miner at scale in North America. Our extraordinary scale has
allowed us to make meaningful gains in our bitcoin
production without having to increase the energy use of our data
centers. This is good not only for CleanSpark and our shareholders,
but for the entire bitcoin network. After halving,
many old and inefficient machines will go offline, increasing
CleanSpark's organic market share while lowering the network's
energy consumption. We are well-suited to take advantage of the
opportunities that the halving affords and look forward to
continuing our unmatched growth."
Under the agreement, the new S21 Pros are scheduled for delivery
between June and December 2024.
CleanSpark is among the largest publicly traded
bitcoin miners in the world, consistently outpacing
its peers in terms of bitcoin produced per exahash of
operating hashrate, according to publicly available data.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is
America's Bitcoin Miner™. We own and operate data
centers that primarily run on low-carbon power. Our infrastructure
responsibly supports Bitcoin, the world's most
important digital commodity and an essential tool for financial
independence and inclusion. We cultivate trust and transparency
among our employees and the communities we operate in. Visit our
website at www.cleanspark.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In this press release,
forward-looking statements include, but may not be limited to,
statements regarding the Company's expectations, beliefs, plans,
intentions, and strategies. In some cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "could," "intends,"
"targets," "projects," "contemplates," "believes," "estimates,"
"forecasts," "predicts," "potential" or "continue" or the negative
of these terms or other similar expressions. The forward-looking
statements are subject to a variety of known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements, including, but not
limited to: delivery dates and operating specifications of the
purchased miners, anticipated additions to CleanSpark's hashrate
and the timing thereof; the risk that the electrical power
available to our facilities does not increase as expected; the
success of its digital currency mining activities; the volatile and
unpredictable cycles in the emerging and evolving industries in
which we operate; increasing difficulty rates for
bitcoin mining; bitcoin halving; new or
additional governmental regulation; the anticipated delivery dates
of new miners; the ability to successfully deploy new miners; the
dependency on utility rate structures and government incentive
programs; dependency on third-party power providers for expansion
efforts; the expectations of future revenue growth may not be
realized; and other risks described in the Company's prior press
releases and in its filings with the Securities and Exchange
Commission (SEC), including under the heading "Risk Factors" in the
Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2023, and any
subsequent filings with the SEC. Forward-looking statements
contained herein are made only as to the date of this press
release, and we assume no obligation to update or revise any
forward-looking statements as a result of any new information,
changed circumstances or future events or otherwise, except as
required by applicable law.
Investor Relations Contact
Brittany Moore
702-989-7693
ir@cleanspark.com
Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com
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SOURCE CleanSpark, Inc.