CleanSpark’s Post

30 and thriving! 🌻 🌻 🌻 We've achieved the incredible milestone of 30 EH/s in operational hashrate, a 200% increase since October 2023, through significant organic growth paired with turn-key acquisitions and the execution of a fleet upgrade. Our efficiency was improved during the same period by nearly 20% and we boosted the number of operational machines by 112%. This has allowed us to increase computing power and produce more bitcoin while consuming less energy and allowing for more hashrate to be generated with fewer machines. We expect to surpass 37 EH/s before the end of 2024 and intend to continue our growth to 50 EH/s and beyond in 2025. Additional hashrate is anticipated to come online due to the expected acquisition closing of GRIID this month. CleanSpark is one of the largest owned-and-operated publicly traded bitcoin miners in North America and has a portfolio of sites located in Georgia, Mississippi, Wyoming and Tennessee. "Reaching 30 EH/s positions us as one of the largest bitcoin miners in the world. We have added more operational hashrate than any other miner in 2024. The results we continue to deliver demonstrate our commitment and ability to scale rapidly and with capital efficiency," said Zachary Bradford, CEO. "Our team's agility, effectiveness and relentless grit has been paramount to the success of CleanSpark. Our efforts to time the market and lock in industry-best pricing on rigs and sites positioned us to take advantage of the opportunities in the market. During this period of rapid expansion of our operations, we have also grown our bitcoin treasury to over 8,049 bitcoin. Since October 2021, we have significantly increased our computing power year over year by quadrupling in 2022, nearly doubling in 2023 and tripling our hashrate in 2024." Press release here: https://bit.ly/3Nltoin

We've named Brian Carson as CleanSpark's chief accounting officer. 🎉 Join us as we congratulate Brian for his new role as CAO! Brian previously served as our director of financial reporting. He has over 30 years of extensive experience in corporate accounting and financial planning, including the role of Certified Public Accountant (CPA) for more than two decades. Prior to joining CleanSpark in October 2022, he worked as a director and financial controller for SAHARA Las Vegas. Brian began his career as an audit manager with Deloitte where he served for seven years before entering the consumer industry, leading finance departments at resorts throughout Las Vegas and providing consultancy services. He holds a bachelor's degree in accounting from Westminster University. "I am thrilled to be recognized for my efforts and am excited for my new role. Working side by side with the entire CleanSpark team has been incredibly rewarding. The Bitcoin ecosystem brings immense value to the world, and I'm grateful to be part of what I believe is just the beginning of CleanSpark's potential for its investors and the Bitcoin network," said Carson. "Since Brian joined the CleanSpark team, it has been inspiring to witness his commitment to excellence and remarkable leadership skills. Brian's strong technical expertise, particularly in digital asset accounting, has been instrumental in helping CleanSpark navigate and scale through significant periods of growth. I look forward to seeing his continued leadership and contributions in this new role," said Gary A. Vecchiarelli, CPA, CFO. Press release link: https://bit.ly/4eLpnQ8

Our full operations have been materially restored in the wake of Hurricane Helene after 365 MW of power was shut down. We've since reached 28.7 EH/s in hashrate. ⛈ 🌀 🌞 “On behalf of the entire CleanSpark team and our community partners, I want to sincerely thank our amazing employees and utility workers for their incredible efforts in restoring power to the surrounding communities and the facilities that were impacted after Hurricane Helene. Your hard work, perseverance, and collaboration have been crucial in getting power back online at our sites swiftly and safely while still prioritizing the energy needs of the local community. We truly appreciate your dedication and commitment during this unprecedented time,” said CleanSpark CEO Zachary Bradford. Press release link: https://bit.ly/4eNQFoE #Bitcoin #blockchain #proofofwork

Another year, another proven track record. 🏎️🛣️🏁 CleanSpark finished FY2024 with over 8,000 bitcoin in treasury, reaching 27.6 EH/s in hashrate and 552 MW of operational capacity at wholly-owned sites. These are increases of 258%, 187% and 132% from FY2023 respectively. Despite the halving, we exceeded FY2023 production. Here are more September highlights: *Monthly BTC production: 493 *CY2024 bitcoin mined: 5,079 *FY2024 (October 1, 2023 to September 30, 2024) bitcoin mined: 7,098 *Total bitcoin holdings as of September 30: 8,049 *Total bitcoin sold in September: 2.5 *Deployed fleet: 188,520 *Fleet efficiency: 21.94 J/Th *Month-end operating hashrate: 27.6 EH/s “I would like to thank the communities where we operate for their continued support following Hurricane Helene. Power has been restored to all sites with the exception of approximately 45 MW, which we expect to be restored in the coming days. As we reflect on the fiscal year ending September 30, 2024, we believe CleanSpark performed exceptionally well. During the past year, we grew our hashrate from 9.6 EH/s to 27.6 EH/s, or 187%, with 5 EH/s coming online just during the month of September. The Company executed its plan to strategically diversify its portfolio across three new states and completed multiple expansions at existing data centers,” said Zachary Bradford, CEO. “During this same period of rapid growth, our share price increased approximately 145% compared to September 30, 2023. These results came from successfully navigating the halving, closing multiple acquisitions, delivering significant organic growth, and even riding out a hurricane to close out the year. We have successfully worked our way through each opportunity and obstacle and look forward to fiscal year 2025 with a goal of delivering even greater results. Our strategic approach pre- and post-halving has allowed us to not only showcase our operational excellence but also strengthen our treasury, which now exceeds 8,000 self-mined bitcoin.” “Our expansion efforts have not slowed down, and we are actively racking miners at newly acquired sites and at our existing facilities as part of our fleet upgrade plan. Through these efforts, we expect to reach 30 EH/s during October 2024. Looking ahead to fiscal year 2025, we are positioned to rapidly achieve our forecasted growth to 50 EH/s and beyond. We look forward to providing further updates on 2025 in the coming weeks.” Read additional updates at our press release here: https://bit.ly/4gTPiH9 #bitcoin #bitcoinminer #btc #hashrate #thehalving #clsk #cleanspark

Some of the CleanSpark team in Vicksburg, MS, recently volunteered with the Vicksburg Young Professionals of the Vicksburg Warren Partnership and Extra Table to pack bags of beans and rice for pantries and shelters in the county!

A statement from CleanSpark CEO Zachary Bradford about Hurricane Helene: In the wake of Hurricane Helene's destructive path across the Southeastern United States, we extend our deepest condolences to the communities, families, and individuals who have suffered loss, damage, and disruption due to this catastrophic event. We recognize the immense challenges faced by those in regions where the storm has left countless without power, water, and other basic necessities. The loss of life, including first responders who bravely served during this crisis, underscores the severity of Helene's impact. Our thoughts are with every person whose life has been altered by this hurricane. The communities in rural Georgia, where our employees and their families reside and where we operate, have experienced this firsthand. The resilience shown by the affected communities and our employees, as they come together to support one another is a testament to the human spirit's indomitable nature. Our teams have been working hand in hand with the local utilities to mutually support the efforts to bring power back online to regions affected. Their grit and commitment have been outstanding. I want to extend our deepest gratitude to our incredible teams who have demonstrated remarkable resilience and dedication in the face of this challenge. Your unwavering commitment to excellence, even under trying circumstances, has not gone unnoticed. The spirit of collaboration, grit, and perseverance you've shown is truly commendable. Thank you for your hard work, your adaptability, and for pushing through adversity with such determination. We continue to move forward and achieve our goals because of your efforts. Most importantly, all our team members are safe. Additionally, our geographically diverse portfolio of sites allowed us to maintain approximately 10.5 EH/s at our sites in Northwest Georgia, Mississippi, and Tennessee throughout the storm. To ensure health and safety, and to avoid any undue pressure on the electrical grid, we shut 365 MW of our Southeast Georgia sites down as the hurricane began impacting the region. Since then, we have been in regular communication with the local utilities to safely bring up the sites in a manner that ensured the local community was supported throughout the process. Within 24 hours, we were able to bring hashrate back to over 17.5 EH/s. We have now brought approximately 200 MW back online and expect to bring the remaining 165 MW online in the coming week after the utilities and communities around us receive power. The majority of the 165 MW remaining offline is projected to be restored to communities no later than October 4, 2024. Our teams are prepared to promptly restore normal operations as soon as power becomes available. [continued in comments]