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.
CLSK Tops 6 Bitcoin Per Day, Deploys 200 MicroGrid Batteries. 95% Carbon-Free Bitcoin Annual Run Rate Nearing $136M.
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…