50 Facts About CleanSpark Inc

CleanSpark's Journey from Energy Management to Bitcoin Mining

CleanSpark Inc. has an intriguing history, evolving from energy management to becoming a major player in bitcoin mining. Let's explore some fascinating facts about this innovative company.

1. 01CleanSpark was founded in 2013 by Michael Firenze, Art Villanueva, and Bryan Huber.
2. 02Initially, the company focused on advanced energy management technologies.
3. 03In 2020, CleanSpark shifted its focus to bitcoin mining.
4. 04This transition leveraged their expertise in energy efficiency for sustainable bitcoin mining.

Commitment to Sustainability

CleanSpark's dedication to sustainability sets it apart in the bitcoin mining industry. Here are some key points about their green initiatives:

5. 05CleanSpark sources and invests in low-carbon energy sources like wind, solar, nuclear, and hydro.
6. 06The company aims to minimize its carbon footprint in the bitcoin mining process.
7. 07They predominantly use renewable or low-carbon energy sources for mining.
8. 08This approach helps stabilize energy costs and ensures reliable operations.

Expansion and Growth

CleanSpark has grown rapidly through strategic acquisitions and expansions. Let's look at some milestones:

9. 09CleanSpark acquired ATL Data Centers to bolster its bitcoin mining presence.
10. 10The company increased its hashrate by 187% to 27.6 EH/s.
11. 11Operational capacity grew by 132% to 552 MW at wholly-owned sites.
12. 12CleanSpark's bitcoin treasury exceeded 8,000 bitcoins as of September 30, 2024.

Operational Efficiency and Capacity

Efficiency and capacity are crucial in bitcoin mining. CleanSpark excels in these areas:

13. 13The deployed fleet consists of 196,032 units.
14. 14The fleet operates with an efficiency of 21.94 J/Th.
15. 15CleanSpark's hashrate surged 200% since October 2023, reaching 30 EH/s.
16. 16The company expects to surpass 37 EH/s before the end of 2024.

Strategic Acquisitions and Projects

CleanSpark's strategic moves have significantly boosted its capabilities. Here are some notable acquisitions and projects:

17. 17CleanSpark is set to acquire GRIID Infrastructure Inc.
18. 18This acquisition will expand their Tennessee Valley Authority-powered operations.
19. 19Construction projects are underway in Wyoming, Mississippi, and Tennessee.
20. 20New facilities are expected to be operational before 2025.

Financial Performance and Strategy

CleanSpark's financial strategies have ensured robust performance and growth. Let's delve into some key financial facts:

21. 21CleanSpark reported significant revenue increases.
22. 22The company maintains a strong balance sheet with almost $700 million in cash and bitcoin.
23. 23They have minimal debt, ensuring financial stability.
24. 24In Q2 2024, revenue per bitcoin increased over 50% to $55,000.

Operational Excellence and Efficiency

CleanSpark's relentless pursuit of operational excellence is a key differentiator. Here are some highlights:

25. 25The company has achieved nearly a 20% improvement in efficiency.
26. 26They actively manage power and optimize operations to keep hash costs low.
27. 27CleanSpark is a vertically integrated company, controlling its infrastructure needs.
28. 28This vertical integration provides a significant advantage in navigating market events.

Community Engagement and Recognition

CleanSpark values its relationship with communities and has received notable recognition. Here are some points of interest:

29. 29CleanSpark supports construction jobs in the communities it operates.
30. 30The company ranks 44th on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas.
31. 31They also rank thirteenth on Deloitte’s Fast 500.
32. 32CEO Zach Bradford emphasizes agility, effectiveness, and relentless grit.

Future Plans and Outlook

CleanSpark's future looks promising with ambitious plans and strategic goals. Let's explore their future outlook:

33. 33CleanSpark plans to reach 50 EH/s and beyond in 2025.
34. 34The company follows a capital management strategy of selling mined bitcoins to reinvest in growth.
35. 35This strategy allowed them to increase hashrate from 2.1 EH/s in January 2022 to 6.2 EH/s in December 2022.
36. 36CleanSpark aims to continue its growth trajectory and capitalize on market opportunities.

Technological Advancements and Risk Management

CleanSpark leverages technology and manages risks effectively. Here are some insights:

37. 37The mining machine fleet includes Antminer S19j Pro and Antminer S19 XP models.
38. 38These machines add up to 2.2 EH/s of computing power.
39. 39CleanSpark continually optimizes operations through hardware and software improvements.
40. 40They manage risks associated with volatile and unpredictable market cycles.

Employee Engagement and Sustainability Initiatives

CleanSpark fosters a positive work environment and is committed to sustainability. Here are some key points:

41. 41The company cultivates trust and transparency among its employees.
42. 42CleanSpark sources and invests in low-carbon energy sources.
43. 43Their sustainability initiatives aim to reduce environmental impact.
44. 44The company is positioned as a forward-thinking leader in the bitcoin mining industry.

Market Position and Leadership

CleanSpark's market position and leadership are noteworthy. Let's look at some facts:

45. 45CleanSpark is one of the largest owned-and-operated publicly traded bitcoin miners in North America.
46. 46They operate multiple data centers that primarily run on low-carbon power.
47. 47CleanSpark has achieved several significant growth milestones.
48. 48The company continues to expand its footprint with new sites in Mississippi and Georgia.

Investor Relations and Media Presence

CleanSpark maintains strong investor relations and a robust media presence. Here are some highlights:

49. 49The company provides regular updates and communications to investors.
50. 50CleanSpark receives extensive media coverage with regular press releases and updates.

CleanSpark's Bright Future

CleanSpark Inc. stands out in the bitcoin mining industry with its commitment to sustainability and energy efficiency. Founded in 2013, the company has evolved from energy management technologies to becoming a major player in bitcoin mining. By leveraging renewable energy sources like wind, solar, nuclear, and hydro, CleanSpark minimizes its carbon footprint while maximizing operational efficiency. Strategic acquisitions and expansions have bolstered its capacity, with a goal of reaching 50 EH/s by 2025. Financially robust, CleanSpark maintains a strong balance sheet and investor confidence. Its proactive strategies, technological advancements, and community engagement set it apart in a competitive landscape. With a focus on sustainability and growth, CleanSpark is well-positioned for a bright future in the bitcoin mining industry. The company's dedication to transparency, operational excellence, and environmental responsibility ensures it will continue to thrive and lead in this rapidly evolving sector.