Initial 30 MW immersion-cooled data center
expected to add over 2 EH/s to Company's hashrate in 2024
LAS
VEGAS, Aug. 1, 2024 /PRNewswire/ -- CleanSpark
Inc. (Nasdaq: CLSK), America's Bitcoin
Miner® today announced it has executed 75 MW of power
contracts and completed the acquisition of its first
Bitcoin mining site in Wyoming. The first site, with a power capacity
of 30 MW, is expected to add over 2 exahashes per second (EH/s) to
CleanSpark's hashrate once operational.
![CleanSpark, Inc. Logo (PRNewsfoto/CleanSpark, Inc.) CleanSpark, Inc. Logo (PRNewsfoto/CleanSpark, Inc.)](https://mma.prnewswire.com/media/795036/cleanspark_updated_Logo.jpg)
The Cheyenne location is
planned to operate as a fully immersion-cooled site, becoming the
second such facility in CleanSpark's growing portfolio.
Groundbreaking is planned for an immediate start with an expected
operational date prior to the end of 2024. CleanSpark intends to
deploy the all-new S21 immersion XPs, the most powerful and
efficient generation of Bitcoin mining machines
currently available. The Company is actively working to expand the
available power at this site to further increase operational
capacity. With the energy contracts now executed, CleanSpark is
progressing on the close of the underlying real estate of a second
site, which will bring an additional 45 MW online in Wyoming, expected to contribute an additional
3 EH/s to the Company's hashrate.
This is the third state in CleanSpark's owned-and-operated
Bitcoin mining portfolio, now composed of twelve data
centers in Georgia, three in
Mississippi, one in Wyoming, and co-locations in Tennessee and New
York. The Company expects to continue building upon the
existing operational hashrate in Tennessee upon completion of the pending
acquisition of GRIID Infrastructure.
"On the heels of the University of
Wyoming announcing the launch of its Bitcoin
Research Institute and Senator Lummis introducing the Boosting
Innovation, Technology and Competitiveness through Optimized
Investment Nationwide (BITCOIN) Act, we are
thrilled to expand in a state so publicly supportive of our
industry. Working together with local, state and national leaders,
CleanSpark plans to grow its footprint beyond Cheyenne, throughout the beautiful state of
Wyoming," said Zach Bradford, CEO.
About CleanSpark
CleanSpark (Nasdaq: CLSK) is
America's Bitcoin Miner®. We own and operate
multiple 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 type of equipment and timing of deployment at the
30 MW site in Wyoming; closing on
the underlying real estate related to the 45 MW in Wyoming; anticipated additions to CleanSpark's
hashrate and the timing thereof; closing of previously announced
acquisitions; 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.