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. CleanSpark was founded in 2013 by Michael Firenze, Art Villanueva, and Bryan Huber.
2. Initially, the company focused on advanced energy management technologies.
3. In 2020, CleanSpark shifted its focus to bitcoin mining.
4. This 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. CleanSpark sources and invests in low-carbon energy sources like wind, solar, nuclear, and hydro.
6. The company aims to minimize its carbon footprint in the bitcoin mining process.
7. They predominantly use renewable or low-carbon energy sources for mining.
8. This 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. CleanSpark acquired ATL Data Centers to bolster its bitcoin mining presence.
10. The company increased its hashrate by 187% to 27.6 EH/s.
11. Operational capacity grew by 132% to 552 MW at wholly-owned sites.
12. CleanSpark'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. The deployed fleet consists of 196,032 units.
14. The fleet operates with an efficiency of 21.94 J/Th.
15. CleanSpark's hashrate surged 200% since October 2023, reaching 30 EH/s.
16. The 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. CleanSpark is set to acquire GRIID Infrastructure Inc.
18. This acquisition will expand their Tennessee Valley Authority-powered operations.
19. Construction projects are underway in Wyoming, Mississippi, and Tennessee.
20. New 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. CleanSpark reported significant revenue increases.
22. The company maintains a strong balance sheet with almost $700 million in cash and bitcoin.
23. They have minimal debt, ensuring financial stability.
24. In 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. The company has achieved nearly a 20% improvement in efficiency.
26. They actively manage power and optimize operations to keep hash costs low.
27. CleanSpark is a vertically integrated company, controlling its infrastructure needs.
28. This 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. CleanSpark supports construction jobs in the communities it operates.
30. The company ranks 44th on the Financial Times' 2022 List of the 500 Fastest Growing Companies in the Americas.
31. They also rank thirteenth on Deloitte’s Fast 500.
32. CEO 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. CleanSpark plans to reach 50 EH/s and beyond in 2025.
34. The company follows a capital management strategy of selling mined bitcoins to reinvest in growth.
35. This strategy allowed them to increase hashrate from 2.1 EH/s in January 2022 to 6.2 EH/s in December 2022.
36. CleanSpark 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. The mining machine fleet includes Antminer S19j Pro and Antminer S19 XP models.
38. These machines add up to 2.2 EH/s of computing power.
39. CleanSpark continually optimizes operations through hardware and software improvements.
40. They 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. The company cultivates trust and transparency among its employees.
42. CleanSpark sources and invests in low-carbon energy sources.
43. Their sustainability initiatives aim to reduce environmental impact.
44. The 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. CleanSpark is one of the largest owned-and-operated publicly traded bitcoin miners in North America.
46. They operate multiple data centers that primarily run on low-carbon power.
47. CleanSpark has achieved several significant growth milestones.
48. The 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. The company provides regular updates and communications to investors.
50. CleanSpark 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.