The agreement includes the potential to expand
the sites by an additional 55 MW
Wyoming now
third state in Company's portfolio of owned-and-operated
bitcoin mining facilities
LAS
VEGAS, May 9, 2024 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin
Miner™, today announced it has entered into definitive
agreements to acquire two bitcoin mining
locations in Wyoming, with 75 MW
of available power, for a cash payment of $18.75 million. The agreement is anticipated to
close in 45 days and the sites are expected to add over
four exahashes per second (EH/s) once fully operational. The
company plans to break ground on the new facilities shortly after
closing.
The company plans to deploy a combination of S21 and S21 pros,
the most powerful and efficient generation of bitcoin
mining machines, from orders placed and fully funded earlier this
year. The agreement includes the potential to expand the sites by
an additional 55 MW. Combined, the two facilities would add over 7
EH/s to CleanSpark's hashrate as the Company continues its path of
sustained progress toward 50 EH/s.
"Just three short months ago, we took a leap and expanded into
Mississippi," said Zach Bradford, CEO. "Today, I'm pleased to share
that we are continuing our journey with our westward expansion into
Wyoming. Diversifying our
portfolio is integral to our strategy and we are well positioned to
take advantage of similar acquisitions in the wake of the
halving."
CleanSpark owns and operates eight different data centers across
the American south, with nearly 400 MW currently under management.
It co-locates about 50 MW of machines at a data center in upstate
New York. The Company previously
announced the purchase of three bitcoin mining
sites in Mississippi with a
hashrate of 2.4 EH/s. CleanSpark has one of the largest
owned-and-operated bitcoin mining fleets in
North America.
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: the timing and closing of the transaction; obtaining
the additional 55 MW in Wyoming;
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.