Company mined 417 bitcoins; total bitcoin holdings now at 6,154

LAS VEGAS, June 4, 2024 /PRNewswire/ — CleanSpark Inc. CLSK), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending May 31, 2024.

“We exceeded industry expectations, as well as our peers, in our first full month of production after cutting the block reward in half,” said Zach Bradford, CEO. “Notably, our post-halving production has also surpassed what some of our peers achieved pre-halving. We continue our progress and are seeing significant gains and upgrades. For example, we reached a new high mark of nearly 18 exahashes per second, while further increasing our efficiency to 23.05 joules per terahash. As we continue to increase our hashrate, we are on a trajectory to quickly recover our production to pre-halving levels.

“In the meantime, as we maximize the performance of our existing fleet, we remain highly active in the M&A space. We expect to close the first facility in Wyoming in the coming days and continue to aggressively pursue additional opportunities that align with the CleanSpark way.” We will continue to provide transparency and updates as we have them. In fact, we recently had our first retail investor day, held at our immersion-cooled facility in Norcross, Georgia. crowded to come and meet with us.”

Bitcoin Mining May Update (Unaudited)

• Bitcoin mined in May: 417
• Bitcoin mined from the year 2024: 3,169
• Total bitcoin holdings as of May 31: 6,154
• Total bitcoins sold in May: 2.43
• Deployed fleet: 134,464
• Fleet efficiency at the end of the month: 23.05 J/Th
• Current hash rate: 17.97 EH/s

The company sold 2.43 bitcoins in May 2024 at an average price of approximately $59,000 per bitcoin. Daily bitcoin mined in May averaged 13.45 and peaked at 15.0.

Operational Update
Dalton Expansion. Grading has been completed and building permits have been issued. Conduit installation for the primary cables has been completed and concrete forms are being installed. Once completed, the expansion will operate a fleet of S21s in a 15 MW facility with a hash rate of approximately 0.8 exahashes per second (EH/s). Upon completion of the expansion, CleanSpark’s Dalton campus, which consists of four independent data centers, is expected to operate at 2.4 EH/s.

About CleanSpark
CleanSpark (Nasdaq: CLSK) is America’s Bitcoin Miner™. We own and operate data centers that run primarily on low-carbon energy. Our infrastructure responsibly supports Bitcoin, the world’s most important digital product and an essential tool for financial independence and inclusion. We cultivate trust and transparency between our employees and the communities in which we operate. 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 expectations, beliefs, plans and intentions of the Company. and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “aims,” ​​”projects.” “, “contemplates”, “believes”, “estimates”, “anticipates”, “predicts”, “potential” or “continues” or the negative of these terms or other similar expressions. 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. analysis statements, including, but not limited to: the performance and timing of Dalton’s expansion; our mergers and acquisitions activities and closings; anticipated additions to CleanSpark hashrate and their timing; the risk that the electrical energy available at our facilities will 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 government regulation; the expected delivery dates of new miners; the ability to successfully deploy new miners; reliance on utility rate structures and government incentive programs; dependence on third-party energy suppliers for expansion efforts; 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. The forward-looking statements contained herein are made only as of the date of this press release and we undertake 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
[email protected]

Media contact
Eleni Stylianou
702-989-7694
[email protected]

SOURCE CleanSpark, Inc.

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