Investor Relations

News Releases

News and Media

Feb 24, 2021 9:25 AM

CleanSpark Completes Strategic Acquisition of Solar Watt Solutions

CleanSpark Completes Strategic Acquisition of Solar Watt Solutions

PR Newswire

SALT LAKE CITY , Feb. 24, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software and services company, today announced that it has completed the strategic acquisition of Solar Watt Solutions, Inc. ("Solar Watt"), a Commercial and Residential Solar and Energy Storage Developer. Based on achievement of certain performance objectives, total consideration for the transaction will be up to 477,703 shares of the Company's common stock, and up to $3,850,000 in cash.

Solar Watt is a Carlsbad, California based company, founded in 2009 by David Watt . Solar Watt provides solar and alternative energy solutions for homeowners and commercial businesses throughout Southern California . The acquisition is expected to immediately expand and accelerate CleanSpark's residential initiative by integrating an experienced energy storage and solar sales and installation team.

Solar Watt has been focused on serving the fire prone communities throughout California by utilizing the Self Generation Incentive Program ("SGIP"), which provides homeowners who have medical needs and reside in vulnerable zones with the opportunity to add energy storage to their homes at little or no cost. The Company's mVoult ( mvoult.com ) product line for residential microgrids will provide opportunities for both companies to expand quickly throughout the state of California and beyond.

David Watt , Founder of Solar Watt, said, "We are extremely excited to join the great team at CleanSpark. With their products and resources behind Solar Watt, we will be able to expedite growth in the California area. We anticipate scaling up and, being able to offer new product lines while continuing to provide the excellent service our customers have come to expect, which is the foundation for our success."

CleanSpark's President and CEO, Zachary Bradford , stated, "Over the past year, we have been working with Solar Watt as a partner to strategically expand our collective sales efforts. As a result, upon closing our transaction to acquire Solar Watt, we added more than $10 million dollars of executed contracts to our backlog. This backlog immediately positions CleanSpark as a player in the direct-to-consumer California residential microgrid market. In addition to executing on their existing pipeline, Solar Watt will form the backbone of the Southern California team for CleanSpark's new residential mVoult product line. We will continue to devote our efforts to the one-to-many sales approach nationwide through partnerships with companies similar to Solar Watt, but this acquisition will allow us to rapidly scale mVoult and residential sales in Southern California where we have a local presence and a large sales footprint."

"This acquisition brings a significant pipeline to drive strong revenue growth immediately as part of our new residential initiative," said Lori Love , Chief Financial Officer of CleanSpark. "We anticipate that the acquisition will contribute approximately $20 million in revenue over the next 12 to 18 months and potentially more as we expand into additional territories with critical energy needs."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/ .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software, controls and technology solutions to solve modern energy challenges. CleanSpark has a suite of software solutions that provides end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  CleanSpark's offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, custom hardware solutions, microgrid installation services, and software consulting services.

CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com .

About Solar Watt Solutions:

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for residential or commercial projects. Solar Watt helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. Solar Watt helps customers realize all the local, state, and Federal incentives, including going green benefits, which make solar energy more affordable than ever before. Solar Watt's customers can take pride in knowing that they are part of the solution, not the problem. For more information, visit https://www.solarwattsolutions.com .

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in CleanSpark's business, including, without limitation: the successful integration of Solar Watt into CleanSpark, the closing of the transaction, the fitness of its energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in the Company's prior press releases and in the Company's filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-completes-strategic-acquisition-of-solar-watt-solutions-301234663.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 17, 2021 4:14 PM

CleanSpark to Discuss Fiscal Quarterly Earnings and Positive 2021 Outlook with Water Tower Research

SALT LAKE CITY, Feb. 17, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in the Water Tower Research Fireside Chat Series on Thursday, February 18, 2021, at 3:00 pm ET. Topics covered will include a review of the most recent quarter's performance and an update on the 2021 outlook. The Company's residential initiative, new partnerships, and the growth and performance of its Bitcoin mining operations will also be highlighted.

The chat will feature Zachary Bradford, CleanSpark's Chief Executive Officer, the host and moderator will be Shawn Severson, Head of Sustainable Investing at Water Tower Research. A brief question and answer session to follow.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1433315&tp_key=00dcc8225d

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary, ATL Data Centers LLC, CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in the Company's business, including, without limitation: the successful deployment of energy solutions for residential and commercial applications or other sectors, the value of Bitcoin, the ability of the Company's products to integrate with new or existing energy management assets or systems, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of the Company's future performance and future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for the Company's products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Feb 17, 2021 9:25 AM

CleanSpark Launches mVoult, a Direct-to-Consumer Residential Microgrid Solution

CleanSpark Launches mVoult, a Direct-to-Consumer Residential Microgrid Solution

PR Newswire

SALT LAKE CITY , Feb. 17, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software and services company, today announced the launch of mVoult ( mvoult.com ) for home microgrids. mVoult is a standalone energy management controller that is capable of directing the operations of both existing and new energy assets. mVoult will be offered as a smart controller and mobile app specifically designed for residential applications. The Company also plans to launch a fully integrated mVoult branded battery energy storage and controls solution. The home power solution will enable the selection of optional add-ons such as solar integration or back-up generators. The systems are expected to continue to support the Company's energy and vendor agnostic solutions. CleanSpark's residential microgrids will be capable of integrating into new or existing energy management assets or systems.

CleanSpark's smart controls technology has been used in commercial applications, as well as mission-critical military deployments for a number of years, and the Company has identified a growing need for a product like mVoult in the residential market. There has been a significant increase in demand from homeowners, especially in California , to add solar and storage solutions to provide backup power due to blackouts or utility outages due to wildfire risks and high electricity usage rates during heat waves. A home microgrid with a smart controller can provide significant flexibility in managing cost savings and resilience for the homeowner. With the expected expansion of government incentive programs under the Biden administration and the decreasing cost of energy assets, a home microgrid has become an even more viable option for homeowners to consider.

CleanSpark has already been offering mPulse to large and estate-sized residential microgrids. The launch of mVoult is expected to significantly expand the Company's reach into the residential market and create a product that has the ability to help benefit homes of all sizes. CleanSpark has already created and staffed a direct-to-consumer sales division over the past 30 days to support the Company and its partners' growth.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "With the massive power-outages across the country caused by both scheduled and unexpected utility disruptions over the President's Day weekend, the need for this solution has never been more critical. This is not our first foray into residential energy systems, but the focus on revenue growth in the home microgrid solutions is expected to make significant contributions to the Company's revenue mix. mVoult is built upon the same foundation as our patented mPulse controls technology which has been used in critical military and commercial applications."

mVoult.com was launched today as an informational website with the opportunity for homeowners to request updates and get on the waiting list for the mVoult solution. We expect to begin taking pre-orders for both the stand-alone controls and the fully integrated solution in April 2021.  Installations of the solution are expected to begin summer 2021.

"We have received significant interest in home microgrids and we are excited to offer a more affordable solution for both homeowners and small businesses", commented Bradford.  "We expect that mVoult will open a host of new opportunities. The Company plans to announce further strategic expansion into the home microgrid sector over the coming weeks."

Parties interested in learning more about CleanSpark's products and services, including mVOULT, are encouraged to inquire the Company by contacting info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary, ATL Data Centers LLC, CleanSpark also owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in the Company's business, including, without limitation: the successful deployment of energy solutions for residential applications or other sectors, the ability of the Company's products to integrate with new or existing energy management assets or systems, the fitness of the Company's energy hardware, software and other solutions for this particular application or market, the expectations of the Company's future performance and future revenue growth may not be realized, ongoing demand for the Company's software products and related services, the impact of global pandemics (including COVID-19) on the demand for the Company's products and services; 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 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-launches-mvoult-a-direct-to-consumer-residential-microgrid-solution-301230014.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 12, 2021 6:15 AM

CleanSpark, Inc. Reports Quarterly Financial Results for the Three-Months Ended December 31, 2020

CleanSpark, Inc. Reports Quarterly Financial Results for the Three-Months Ended December 31, 2020

Quarterly revenue increased 130% from one year ago quarter and gross margin improved to 41%

PR Newswire

SALT LAKE CITY , Feb. 12, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the quarter ended December 31, 2020 .

The Company's form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/

Financial Highlights

  • CleanSpark more than doubled its comparable quarterly revenues, with quarterly revenue of $2.26 million , an increase of 130% from $0.98 million for the prior year.

  • Gross Margin increased to 41% to $0.92 million compared to 10% and $0.10 million to the prior year.

  • Loss from operations increased to $6.2 million compared to $3 million for the prior year.

  • Net loss for the three months attributable to common shareholders for the three months ended December 31, 2020 was $7.2 million or $(0.32) per basic and diluted earnings per share compared to a loss of $1.9 million or $(0.40) per basic and diluted earnings share for the same year-ago period, an improvement of $0.08 per share.

  • Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss attributable to common shareholders for the three months ended December 31, 2020 of $591,975 or $(0.03) per basic and diluted earnings per share, compared to a loss of $1,765,826 or $(0.37) per basic and diluted earnings share for the same year-ago period, an improvement of $0.34 per share.

  • The Company decreased its revenue concentration risk, for the three months ended December 31, 2020 37% of its revenues were derived from a single customer as compared to 91% in the same year-ago period.

Financial Summary

Revenues

The Company recognized $2.25 million in revenues during the three-months ended December 31, 2020 , as compared with $0.98 million in revenues for the three-months ended December 31, 2019 .

For the year ended December 31, 2020 and 2019 our revenue was derived from three business segments:

Energy Segment - Consisting of our CleanSpark, LLC, CleanSpark Critical Power Systems, Inc. and GridFabric, LLC lines of business, this segment provides services, equipment and software to the energy industry. The income from our Energy Segment is the result of contracts to sell switchgear equipment, perform engineering and design services, and provide software for distributed energy and microgrid systems.

Digital Agency Segment - The Company's wholly owned subsidiary p2klabs, Inc. provides design, software development and other technology-based consulting services.

Digital Currency Mining Segment - Through ATL Data Centers, the Company mines Bitcoin

Our Energy business segment contributed $1.2 million or 54% of consolidated revenue in three-months ended December 31, 2020 , compared to $0.93 million or 100% of consolidated revenue in the same year-ago period.

The Company's digital agency segment generated services revenue from our p2klabs subsidiary. This segment contributed $0.3 million or 13% of consolidated revenue in three-months ended December 31, 2020 .

The Company's Bitcoin mining segment generated revenue from our ATL Data Center subsidiary. This segment contributed $0.73 million or 32% of consolidated revenue in three-months ended December 31, 2020 .

Gross Profit

Our gross profit for the three-months ended December 31, 2020 was $0.92 million or 41% of revenue, as compared with gross profits of $0.09 million or 10% of revenue for the three-months ended December 31, 2019 . The increase in gross margin was largely driven by increased high-margin revenues derived from our Bitcoin mining and related revenue.

Operating Expenses

Our operating expenses for the three-months ended December 31, 2020 increased to $7.1 million from $3.1 million for the same period in 2019. The increase in operating expenses was largely driven by increased non-cash compensation, payroll expenses, general or administrative expenses, and increased depreciation and amortization.

Other income/(expense)

The Company's total other income/(expenses) in the three-months ended December 31, 2020 totaled approximately $(1.0) million as compared to $1.1 million in 2019. The increase in other expenses was mainly due to non-cash cash items, specifically our derivative loss and unrealized loss on equity securities.

Earnings/(Loss) Per share

Net loss for the three months attributable to common shareholders for the three months ended December 31, 2020 was $7.2 million or $(0.32) per basic and diluted earnings per share compared to a loss of $1.9 million or $(0.40) per basic and diluted earnings share for the same year-ago period, an improvement of $0.08 per share.

Non-GAAP figures

Adjusted EBITDA, a non-GAAP term, resulted in negative $0.6 million in three-months ended December 31, 2020 , as compared to negative $1.7 million in three-months ended December 31, 2019 .

Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net loss attributable to common shareholders for the three months ended December 31, 2020 of $591,975 or $(0.03) per basic and diluted earnings per share, compared to a loss of $1,765,826 or $(0.37) per basic and diluted earnings share for the same year-ago period, an improvement of $0.34 per share. (See details on Non-GAAP figures below)

Working capital

Cash and cash equivalents totaled $25.6 million as of December 31, 2020 , as compared to $3.1 million on September 30, 2020 , an increase of $22.5 million . We had working capital of $28.7 million as of December 31, 2020 compared to $2.9 million as of September 30, 2020 . An increase of $25.8 million .

Fiscal Quarter December 31, 2020 Operational Highlights

  • On October 9, 2020 , the Company closed an underwritten offering and received gross proceeds of $40 million , before deducting underwriting expenses and fees.

  • We completed the acquisition of ATL Data Center in an all-stock transaction. The Company has contracted with the local municipality to bring 30MW of additional power to a property adjacent to ATL property to support additional CleanSpark Bitcoin mining operations.  This will bring the total power available for mining and data centers for CleanSpark subsidiaries from 20MW to 50MW. The capacity increase is underway and is expected to be complete by mid-year 2021.  In addition to the additional power to be delivered by the local utility, CleanSpark expects to subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls. The Company intends to use the renewable energy to further increase its total energy capacity to support additional ASIC (application specific integrated circuit) mining units and increase bitcoin mining revenues.

  • We entered into the Electric Vehicle (EV) charging station market through a new initiative focused on providing OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.

  • We implemented new sales and marketing initiatives resulting in increased revenues, contracted backlog, and proposal pipelines.

  • We received a large switchgear order from a Houston, Texas developer in support of microgrids to be built for the nation's largest retail chain.

  • CleanSpark's strong presence at virtual conferences included Platinum Sponsorship at Microgrid 2020 Global, Exhibition at the Solar Power International, and speaking engagement by Amanda Kabak , CleanSpark CTO on "The Benefits of Solar plus Storage".

  • The CleanSpark team released a suite of usability enhancements to both their mPulse and mVSO products, including self-serve reporting of monthly and ad-hoc site telemetry as well as improvements in mVSO ease of use to allow developers to completed scenarios quickly and more efficiently. Updates to our mPulse forecasting and control algorithms ensures optimal site operation aligned with pre-determined targets. CleanSpark continues to grow its software team with specialists in web and cloud development.

Management-Commentary and Outlook

This was another record-breaking quarter for CleanSpark.  As we had discussed in our prior shareholder letter, the Company expected the somewhat cyclical nature of our business to continue, specifically related to our energy business segments.  In prior years we have recognized approximately 10% of our total annual revenues in the quarter ending December 31 . This trend has continued to be reflected in the results of our most recent fiscal quarter. These trends are largely due to the annual holiday slowdown and winter weather as energy systems are more easily deployed in warm weather. We continue to expect to see the strongest revenues related to our energy segments in our third and fourth fiscal quarters.  Our Bitcoin mining revenues contributed significant profitable revenue for the quarter, making up approximately 32% of our total quarterly revenues. This is especially meaningful considering our Bitcoin mining revenues consisted of only 21 full days of mining in December. We expect to recognize substantially more revenue from Bitcoin mining revenues in future quarters both as a result of recognizing revenues from the full period, but also due the expanded capacity expectations from approximately 200 PH/s in December to more than 315 PH/s in February 2021 .

We continue to expect to generate in excess of $30 million in total revenue in the fiscal year ending September 30, 2021 . Our backlog as of today remains strong at approximately $7.3 million as of the date of this release, an increase of $0.8 million from December 2020 .  This increase is directly attributable to our newly expanded sales team.  We expect our proposal closing rate to accelerate as COVID-19 vaccines begin to be made available to the public in the coming quarters. Our proposal pipeline remains strong at approximately $25.0 million as of the date of this release.  We believe our increase in contracted backlog and proposal backlog demonstrates the pent-up demand for resilient, distributed energy solutions as the pandemic begins to improve.

We continue to work diligently to expand the Company's total energy capacity and Bitcoin mining capacity. We expect to reach more than 315 PH/s within the month of February. We also expect to have the initial power capacity increase completed over the next two quarters and anticipate bringing additional mining equipment online in parallel with the available power.  We believe the improvements will add an additional 800 to 880 PH/s of processing capacity over the coming quarters. We expect this to bring the total capacity under CleanSpark's subsidiaries to between 1.0 to 1.3 EH/s by mid-summer.  Given the current difficulty rates, this is expected to result in the production of 6-9 Bitcoins per day.  At the current price of Bitcoin ($47,000) this would result in $115 to $150 million per year in Bitcoin mining revenue.  As stated, our goal is to mine Bitcoins at the lowest rates nationwide and we expect to achieve greater than 80% gross profit margin on our Bitcoin mining activities.

We are also expanding our residential initiatives, including the launch of a new offering which we look forward to discussing in greater detail next week.

Our focus continues to be on increasing our sales in each of our segments, enhancing the features and functionality of our software products as well as our aggressive pursuit of additional accretive acquisitions.

We remain deeply grateful for the continued support of all stakeholders of CleanSpark, most importantly, the shareholders who have entrusted the Company with their investment dollars. On behalf of our entire organization, we provide this update and outlook with extreme optimism for the future.

With Warmest Regards,

Zachary Bradford , CleanSpark's President and Chief Executive Officer and

Matthew Schultz , CleanSpark's Executive Chairman.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 315 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the company. The company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense, unrealized gains and losses on securities, non-cash amortization of right of use assets, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CLSK management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the company's core business operating results and those of other companies, as well as providing the company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.


The company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CLSK management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.




December 31,
2020


December 31,
2019

Net loss (US GAAP)

$

(7,167,530)

$

(1,916,254)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


1,078,429


587,490

Software amortization


39,286


39,286

Stock based compensation


4,350,643


636,269

Interest, financing charges, non-cash amortization of debt discounts


1,339


1,560,315

Unrealized gain/(loss) on equity security


73,500


(368,868)

Unrealized gain/(loss) on derivative security


1,020,494


(2,266,654)

Non-cash amortization of right of use assets


11,864


10,731

Total:

$

6,575,555

$

198,569






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(591,975)

$

(1,717,685)

Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. CLSK management believes that exclusion of certain selected items assists in providing a more complete understanding of the company's underlying results and trends and allows for comparability with its peer company index and industry. CLSK management uses this measure along with the corresponding GAAP financial measures to manage its business and to evaluate the company's performance compared to prior periods and the marketplace. The company defines Non-GAAP (loss) income attributable to common stockholders as (loss) or income before amortization, stock-based compensation, expenses related to discontinued operations, impairment of long-lived assets and non-cash financing, unrealized gains and losses on securities, non-cash amortization of right of use assets and non-cash interest expense. Adjusted EPS expresses adjusted (loss) income on a per share basis using weighted average diluted shares outstanding.

Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The company expects to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from the company's presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

The following table sets-forth non-GAAP net loss attributable to common stockholders and basic and diluted earnings per share:



December 31,
2020


December 31,
2019

Net loss (US GAAP)

$

(7,167,530)

$

(1,916,254)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


1,078,429


587,490

Software amortization


39,286


39,286

Stock based compensation


4,350,643


636,269

Non-cash interest, financing charges, non-cash amortization of debt discounts


1,339


1,512,174

Unrealized gain/(loss) on equity security


73,500


(368,868)

Unrealized gain/(loss) on derivative security


1,020,494


(2,266,654)

Non-cash amortization of right of use assets


11,864


10,731

Total:

$

6,575,555

$

150,428






Non-GAAP Adjusted Loss

$

(591,975)

$

(1,765,826)






Weighted average common shares outstanding - basic and diluted


22,146,992


4,781,075

Loss per common share - basic and diluted

$

(0.03)

$

(0.37)

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, the successful and continued integration of acquired businesses, ongoing demand for its software products and related services, the price volatility of Bitcoin, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-inc-reports-quarterly-financial-results-for-the-three-months-ended-december-31-2020-301227464.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 9, 2021 9:25 AM

CleanSpark Issues Bitcoin Mining Expansion Update

CleanSpark Issues Bitcoin Mining Expansion Update

PR Newswire

SALT LAKE CITY , Feb. 9, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today provided a 60-day post-acquisition update on its Bitcoin mining operations and announces that it expects to further increase its Petahash rate in February 2021 , beyond prior projections.

CleanSpark has continued to procure and deploy mining equipment as part of its strategic growth initiative, purchasing its equipment mostly through dealer networks rather than directly through the manufacturers to ensure immediate availability. Orders for new mining equipment continue to be delivered in multiple shipments and are promptly commissioned as they arrive. Prior to the end of February, the Company expects to have in excess of 315 Ph/s of Bitcoin mining capacity deployed.  This will represent a greater than 65% increase in mining capacity since the December 10, 2020 acquisition.

CleanSpark has focused on increasing energy capacity in conjunction with the expanding mining capacity as it continues to progress toward its goal of mining at the lowest cost of energy for any domestic Bitcoin mining operation. Energy costs and power capacity, factored with the overall environmental impact of mining operations will become increasingly important as difficulty levels increase, and greenhouse gas emissions are more strictly regulated under the Biden administration.  In light of companies like MicroStrategy, PayPal, Square and Tesla making substantial investments into Bitcoin, demand is expected to increase which will certainly invite scrutiny surrounding the single biggest factor in mining operations that support the blockchain--energy.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "With companies such as Tesla making large strategic investments in Bitcoin, we believe the validation as a currency has only just begun. CleanSpark has been focused on increasing mining capacity but this hasn't changed any of the long-term plans for renewable energy implementation and deployment of our technologies and solutions to further decrease power costs."  Adding, "The mining capacity that is expected to be fully online by month-end should rival many of the 'pure play' publicly traded mining companies 'actual' deployed mining capacity. While other companies have focused on pre-ordering machines, we have focused on putting available capacity immediately to work."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the value of Bitcoin, the successful deployment of energy solutions for bitcoin applications, the fitness of our energy hardware, software and ither solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-issues-bitcoin-mining-expansion-update-301224854.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Feb 3, 2021 9:25 AM

CleanSpark Announces Multi-Unit Switchgear Order for Commercial Microgrids

CleanSpark Announces Multi-Unit Switchgear Order for Commercial Microgrids

PR Newswire

SALT LAKE CITY , Feb. 3, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that it has received a new purchase order from a Houston, Texas -based microgrid developer. CleanSpark has provided its ATS (automatic transfer switch) solutions to the developer and its customers for several years.

World's Largest Retailer to Deploy CleanSpark's Microgrid Switchgear.

The Company's switchgear units will be deployed alongside energy generation assets to provide resilient power and cost savings. The end-use customer is the world's largest retail chain, operating more than 11,500 locations worldwide. CleanSpark's ATS paired with other microgrid assets will help keep stores operational during utility outages.

This purchase order is expected to result in more than $1,500,000 of additional revenue for the Company.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "We are excited to continue to provide switchgear to support custom microgrid solutions for critical back-up power.  With the increasing frequency of grid disruptions, natural disasters and scheduled power-outages, the number of businesses relying on microgrids continues to rise. We anticipate additional switchgear orders from this customer and other partners, both as a result of the aforementioned events, as well as 'green' initiatives supported by the new administration that should pave the way for increased microgrid development."

Bradford concluded, "We believe the combination of our patented energy solutions together with our Bitcoin mining division, make us a true 'dual-threat' as we continue our rapid growth across all of our divisions. This order is a result of our focus on 'best-in-class' solutions, whether they result from hardware, software, residential or commercial initiatives. CleanSpark's unique approach to energy solutions are expected to continue to drive strong demand throughout our partnership networks. Recent announcements discussing our platform upgrades and additional distribution of our GridFabric software solutions are examples of this increased demand for our products and services."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its energy technologies to these divisions with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions for retail applications or other sectors, the fitness of our energy hardware, software and ither solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-multi-unit-switchgear-order-for-commercial-microgrids-301221158.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 28, 2021 9:25 AM

CleanSpark's GridFabric Completes OpenADR Certification for EV Charging Company, KIGT

CleanSpark's GridFabric Completes OpenADR Certification for EV Charging Company, KIGT

PR Newswire

SALT LAKE CITY , Jan. 28, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced that its wholly-owned subsidiary, GridFabric has completed the process of OpenADR certification for KIGT, Inc. KIGT is an electric vehicle (EV) charging, software and technology company focusing on charging stations and related software for commercial, fleet, and residential vehicles.

CleanSpark's EV Charging Solutions Set to Deploy Across California, Hawaii .

KIGT's charging platform and proprietary software have now been added to the official list of OpenADR certified products. The list of entities having achieved certification, including KIGT, can be found at https://products.openadr.org/product/kigt-inc-kigt_ven/

KIGT, an Ontario , California based firm, was founded as a reseller of EV charging equipment more than a decade ago. The principals of the company identified a need within the electric vehicle sector for a more efficient, faster charging and affordable solution. The team at KIGT successfully launched a proprietary platform and began manufacturing their own products in 2014. This Open ADR certification will enable KIGT to enter new markets, participating alongside other, older EV charging companies in serving entities including major California Utilities and HECO (Hawaiian Electric Company, Inc.).

We believe the electric vehicle market is poised for exponential growth. According to McKinsey & Company, "With consumer focus shifting towards sustainability, it is anticipated that expenditure on electric vehicles will double over the next 5 years."

Paul Francis , Co-Founder of KIGT, said of the announcement, "OpenADR certification will be a key driver for our growth in 2021, allowing us to work with leading utilities' demand response and incentive programs. GridFabric made the process easy, as we were able to become fully certified much quicker and at a significantly lower cost than attempting the certification process alone."

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "GridFabric's Plaid product is one of the fastest ways for a company like KIGT to achieve full OpenADR certification across their platform. This process allows them to participate in utility load shifting programs, rapidly. Alternatively, the process of achieving certification without this program can result in months-long delays and substantial capital expenditures. This project is yet another successful deployment of GridFabric's unique offering within the broader EV charging industry." Adding, "GridFabric, has continued to expand its network of customers since its acquisition by CleanSpark in 2020. Following President Biden's remarks this week committing to the replacement of the entire Federal fleet with electric vehicles, we believe the focus on rapid certification of EV charging systems is poised to accelerate over the course of the coming years."

Executive Chairman Matthew Schultz will also be speaking today, January 28 th at 12pm Eastern at the RenMark Virtual Roadshow.  To view the live presentation, CLICK HERE .  A recording will be available on the Company investor website a few days after the presentation.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's websites at www.cleanspark.com or www.gridfabric.io .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About KIGT Inc.
KIGT is an Electric Vehicle Supply Equipment (EVSE) Manufacturer that also creates the operating software. KIGT helps Plug-in Car Drivers save time and money by providing faster charging for home, workplace, public and fleet with software that makes it easier to manage fueling and energy expenses.  Learn more at https://kigtinc.com

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions in the electric vehicle or other sectors, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleansparks-gridfabric-completes-openadr-certification-for-ev-charging-company-kigt-301217358.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 26, 2021 9:25 AM

CleanSpark Announces Enhancements to mVSO Energy Modeling Software

SALT LAKE CITY, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced a release upgrade to its mVSO, microgrid Value Stream Optimizer. mVSO is CleanSpark's microgrid planning and proposal software for energy, solar, and storage developers as well as EPC firms (Engineering, Procurement and Construction).

The latest release to mVSO includes significant enhancements to all customer-facing reports and financial analyses. Report interfaces have been redesigned from the ground-up to provide clear, concise, and compelling graphics and tables to help project developers collaborate with their customers to identify the optimal solution to meet their needs. From top-level financial metrics across a 20-year project lifetime to sample operational charts with 15-minute resolution, every aspect of the proposed microgrid is described and explained in terms the most non-technical customer can understand. These clearly defined outcomes are an invaluable tool in growing the sales channels for all types of energy providers, especially with the recent impetus on expansion of renewable energy initiatives under the new Administration.

mVSO can now seamlessly ingest outputs from a variety of other renewable energy related software, including Helioscope, PVSyst, and PVWatts modeling systems. The software continues to accept custom rate structures as well as hourly interval data in simple Excel and CSV file formats.

CleanSpark Chief Technology Officer, Amanda Kabak said, "We made these significant improvements not only based on feedback from our current users, but also on our own modeling experience during direct sales of our mPulse controller. We have crafted the outputs to accurately tell a story that addresses capital expenditure and return, utility consumption, detailed savings breakdown, and the interplay of the different distributed energy resources within the microgrid itself."

Kabak added, "In addition to improved reporting, mVSO now supports integrating with externally modeled solar data. This request arose from current and potential customers to expand their offering processes. Many of our mVSO customers are experienced solar project developers having numerous existing-and complementary-tools at their disposal."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation the successful deployment of our energy solutions, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Attachment


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jan 21, 2021 1:53 PM

CleanSpark Investigating Short Seller Culper Research

CleanSpark Investigating Short Seller Culper Research

PR Newswire

SALT LAKE CITY , Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or "the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, has become aware of a report making false accusations against CleanSpark and its officers.  The publisher of this false report is an unknown entity or group hidden behind the facade of "Culper Research," which disguises the identity of the actual author(s).

CleanSpark Investigates Anonymous Short Seller

The apparent purpose of the Culper Research "report" is to cover or profit from the publisher's short positions in the Company, which the publisher expressly acknowledges holding in the report itself.  Holders of short positions trade on an expected decline in the price of a stock.  Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline.

CleanSpark takes seriously any accusations of impropriety, stands behind its prior statements and disclosures, and will not tolerate unfounded and reckless claims against the Company. CleanSpark has retained the law firm of Wilk Auslander LLP in connection with this matter and will be vigilant in investigating the sources of these misrepresentations, including the identity of those veiled behind the entity calling itself Culper Research.  We are aware that litigation premised on the so-called "Culper Report" has been filed and that plaintiff's firms are trolling for additional shareholders. The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report."  We also invite anyone who has any information regarding the persons or entities behind Culper Research to contact the Company at the Investor Relations email address or contact number provided below.

For accurate information about the Company, Shareholders should refer to the Company's disclosure documents filed with U.S. Securities and Exchange Commission, which are available online under the Company's EDGAR profile at www.sec.gov or on the Investor Relations tab of the Company's website at www.CleanSpark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark, Inc.
Investor Relations
(801) 244-4405
IR@cleanspark.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-investigating-short-seller-culper-research-301212791.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 20, 2021 9:30 AM

CleanSpark Provides Update on Bitcoin Balance and Mining Revenue

CleanSpark Provides Update on Bitcoin Balance and Mining Revenue

PR Newswire

SALT LAKE CITY , Jan. 20, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today provided an update on the number of Bitcoins mined by its wholly-owned subsidiary, ATL Data Centers LLC.  In the first 40 days since the acquisition of the mining operation, the Company has generated just over 56 Bitcoins as of end of business, January 19, 2021 .

Microgrid Technology Company Updates Bitcoin Mining Results

The Company had previously stated its plan to strategically manage the percentage of the coins it holds or sells according to market conditions and current Bitcoin prices. To date, CleanSpark continues to hold approximately 31 of the 56 Bitcoins it has mined.  As the Company observes a 9/30 fiscal year end, the mining revenue thus far in FY 2021 has exceeded $1.6 Million based on the daily price of Bitcoin on the date they were mined.

The company expects its daily production numbers to continue to increase over the coming weeks as we further expand mining production capacity. CleanSpark intends to update its investors with additional information as both the energy and data operation's upgrades progress.

Zach Bradford , CleanSpark's President and Chief Executive Officer stated, "We committed to our investors that we would deliver regular updates on the status of our Bitcoin mining activities as we proceed with our growth strategy. After 40 days, we are pleased with the results generated to date and look forward to providing additional updates on the progress towards our stated objectives both in the energy space and in Bitcoin mining. Our team is dedicated to working diligently to maximize shareholder value and we will continue to update all interested parties as we achieve future milestones."

CleanSpark's Executive Chairman Matthew Schultz recently provided insights to investors about mining and other relevant topics at the RenMark Virtual Conference.  A recording of the presentation can be viewed HERE .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the future value of Bitcoin, the successful deployment of energy solutions on the data center, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-provides-update-on-bitcoin-balance-and-mining-revenue-301211471.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 19, 2021 9:25 AM

CleanSpark Partnership Delivers Another New Commercial Microgrid in Orange County

CleanSpark Partnership Delivers Another New Commercial Microgrid in Orange County

CleanSpark and Solar Watt Solutions to join forces on a another commercial microgrid project

PR Newswire

SALT LAKE CITY , Jan. 19, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark", or "The Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges announced a new solar-plus-storage microgrid with EPC (Engineering, Procurement, and Construction) partner, Solar Watt Solutions.

Microgrid Technology to be Deployed at Medical Center, Bitcoin Mining Facility.

Previously, CleanSpark announced it had executed a contract for a new Southern California microgrid.  The energy storage project has been successfully installed and deployed by Solar Watt Solutions including CleanSpark's patented controls on site for resiliency.

An additional contract was signed this week for a medical facility in Orange County that will feature 100kw rooftop and carport solar with 30kw/70kw battery. CleanSpark's patented mPulse controller will optimize the solar plus storage resources to provide the customer with significant cost savings. Based on prior results and the recent mVSO evaluation the medical facility is expected to save around 90% on the monthly energy costs. The facility owner anticipates, that with CleanSpark's solution, they can secure a three-year payback on the fully installed system.

David Watt , President of Solar Watt Solutions said, "The addition of CleanSpark's software and engineering resources has allowed us to meet the increased demand in the market for solar plus storage solutions. Their controls software and energy storage relationships have helped save our customers money and make them less reliant on the utility companies, especially in these uncertain times."

Zachary Bradford , CleanSpark's President and Chief Executive commented, "This is another success for CleanSpark's strategy of engaging with large regional partners. Solar Watt is helping residential and small commercial businesses save on their energy costs via solar and storage solutions as well as providing resiliency solutions. Our products and services are a perfect complement to Solar Watt's existing offerings to bring their customers the benefits of intelligently controlled storage and other microgrid services. Our 'one to many' approach has continued to pay dividends for both CleanSpark as well as our energy partners."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About Solar Watt Solutions

Solar Watt Solutions, Inc., a California corporation, is a system integrator that assists customers in finding the energy products that best fit their needs while working with a range of equipment manufacturers to provide a cost-effective solution for a residential or commercial projects.

Solar Watt Solutions helps businesses and homeowners install solar and batteries to save money on energy bills and reduce dependence on increasing energy costs from public utilities. We help customers realize all the local, state, and Federal incentives including going green benefits, which make solar energy more affordable than ever before.  Our customers can take pride in knowing that they are part of the solution, not the problem.  For more information, visit https://www.solarwattsolutions.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-partnership-delivers-another-new-commercial-microgrid-in-orange-county-301210616.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 13, 2021 9:25 AM

CleanSpark Announces Additional Residential Microgrid Contract

Residential Initiative to provide new construction and existing homes with solutions to avoid power disruptions, unpredictable energy costs.

SALT LAKE CITY, Jan. 13, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, announced an additional contract related to their residential initiative.  The project is for an existing Santa Barbara, CA home that has a history of power disruptions directly related to natural disasters.

This agreement provides that CleanSpark will deliver energy modeling, analytics, and implementation of storage and controls for a microgrid designed to function in addition to or disconnected from the utility when economic or adverse conditions dictate. The system will be controlled by CleanSpark's patented mPulse software, to ensure optimization of energy costs while delivering the highest level of resiliency. The homeowner, Frank Huerta, has been forced to evacuate the residence due to wildfires, rolling blackouts, and other natural disasters. As a business owner, Mr. Huerta is intimately aware of the impact a sustained disruption can cause, not only to his residence, but to his company as well.

According to PG&E data, some California counties lost power up to seven times during 2019, significantly more than the national average (1.4, US Energy Information Administration study).

CleanSpark's team of energy professionals are currently working closely with the homeowner and the utility to analyze the system for appropriate sizing. Through the utilization of the Company's mVSO microgrid energy modeling software, the system will be optimally designed to provide resilient energy for all critical circuits, according to the needs of the client, in the event of a sustained disruption. Additionally, the Company's suite of products will provide end-to-end management for the microgrid, ensuring the lowest cost of energy during standard, connected operation.

When asked about selecting the CleanSpark line of products, customer Frank Huerta stated, "I did a tremendous amount of research on backup power systems including residential microgrids and found CleanSpark's solution to be the best solution to meet my needs. Their system is extremely flexible, providing unlimited opportunities for future expansion as my requirements change. The single greatest value, for us, is to have the confidence and security that our home is not subject to unpredictable energy interruptions that are beyond our control…you really can't put a price on that. We plan to someday expand this system to fully disconnect our home from the utility connection."

Zach Bradford, CEO of CleanSpark added, "Mr. Huerta's situation is an increasingly common theme with California homeowners. His need for resilient energy presented us with another opportunity to deliver tremendous value with a smart solar and storage microgrid. In addition to providing energy certainty and long-term savings, this deployment provides an application of our solutions to solve real-world challenges for our clients and partners. Expanding our highly respected military, commercial, and industrial energy solutions to include residential microgrids is the next logical progression in our growth plans. The market continues to evolve away from the unstable, centralized power grid, and customers of all walks of life are now seeking the certainty and confidence that a residential microgrid can provide. Additionally, many of our clients have found that the ever-evolving utility tariffs have devalued their existing solar or generator investments, and this provides the solution to secure the legacy investment value and leverage it well into the future."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment of energy solutions on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jan 11, 2021 7:00 AM

CleanSpark to Participate in Renmark's Virtual Roadshow Series on January 11

Executive Chairman Matthew Schultz will Present Live to Investors and Institutions to Discuss Updates Including its Bitcoin Mining Operations.

SALT LAKE CITY, Jan. 11, 2021 (GLOBE NEWSWIRE) -- SALT LAKE CITY, January 11, 2021 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in Renmark's Virtual Non-Deal Roadshow Series on Monday, January 11, at 12:00 pm ET.

The presentation will feature Matthew Schultz, CleanSpark's Executive Chairman. Topics covered will include the latest investor presentation featuring insight into the Company's growth plans and acquisition of ATL Data Center LLC. The discussion will highlight the expected timeframe to add more than 30MW to the new facility, microgrid development plans, and the additional Bitcoin miners expected to be deployed over the coming weeks.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event may be limited but accessed for replay after the event on The Company's Investor website.

REGISTER HERE: https://www.renmarkfinancial.com/events/renmark-virtual-non-deal-roadshow-nasdaq-clsk/2021-01-11-170000

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Jan 7, 2021 9:25 AM

CleanSpark, Inc. Commences Residential Estate Program with Bay Area Energy Solutions, Inc.

CleanSpark, Inc. Commences Residential Estate Program with Bay Area Energy Solutions, Inc.

Companies Launch Initiative with First Luxury Deployment

PR Newswire

SALT LAKE CITY , Jan. 7, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, and Bay Area Energy Solutions, Inc. today announced they are jointly developing the first pilot microgrid solution for an estate residence in Healdsburg, CA. The companies are pleased to have secured the first contract under a previously announced partnership agreement.

CleanSpark Launches Luxury Estate Energy Program Following Successful Bitcoin Deployment

This initial project is anticipated to be the first of a joint initiative formed with a number of domestic energy developers, including Bay Area Energy Solutions.  Luxury and estate homes offer a targeted niche with unique requirements for which CleanSpark and its partners can provide strategic solutions. Properties of this size often require significant power for one or more building structures and can even include business operations on site. There are thousands of homes greater than 10,000 square feet in the state of California alone, where incentives and tax benefits, along with well-documented utility challenges support the implementation of new, renewable, and resilient energy sources. CleanSpark expects to develop a significant pipeline of projects within this sector.

The first deployment is a 14,000 square foot estate currently under construction. When completed, the luxury residence will be operated fully grid-disconnected, utilizing on site generation, solar, and storage managed by CleanSpark's mPulse Controller for system optimization. The goal of the project is to provide self-sufficient off-grid energy for locations frequently experiencing grid disruptions from events including wildfires and public safety grid shutdowns. The California Energy Commission anticipates increasing volatility in areas prone to disruptions.

Kilowatt Labs, Inc.'s supercapacitor-based energy storage which will be installed with photovoltaic solar panels during the first phase of the project in order to power construction of the home. Additional solar and stand-by generators will be added once the homeowner takes residence.

Amer Tadayon CRO of CleanSpark commented, "We are seeing increasing investments being made by estate homeowners integrating sustainable energy technology into construction projects of this magnitude, and we believe this trend will continue. This is the first foray directly into this market segment for CleanSpark. With our development partners, we can help solve critical energy and resiliency challenges for these types of residences." Adding, "We are pleased to continue building our pipeline of microgrid projects with partners like Bay Area Energy Solutions, where we expect to deploy multiple mPulse controlled residential microgrids in 2021."

Joel Ware , owner of Bay Area Energy Solutions said, "Because this is an off-grid project, we worked with a number of energy providers including Kilowatt Labs to procure the proper electrical generation and storage for the construction phase, as well as the permanent occupancy of the home. CleanSpark's Controller will enable our customer to power their home and property efficiently, with self-sufficient, sustainable energy that is not reliant on the increasingly volatile utility grid."

Zach Bradford CEO of CleanSpark said of the project, "We are excited to participate on this project with Bay Area Energy. CleanSpark's proprietary mPulse system, paired with solar, storage, and generators will provide complete resiliency as well as significant cost savings. It will also allow their microgrid to be 'future-proof' should they wish to add additional solar or other resources at a later date.  We believe that the sustainable energy management opportunities presented within the higher end residential real estate market will parallel the successes we've begun to experience in our Bitcoin mining operations."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit https://ATL-DATA.com

About Bay Area Energy Solutions, Inc.:

Bay Area Energy Solutions, Inc. provides custom solar design and installation services for residential and commercial properties in the Greater California Bay Area. Bay Area Energy Solutions, Inc. is proud to be a certified Sunpower dealer, and a Tesla PowerWall authorized installer.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-inc-commences-residential-estate-program-with-bay-area-energy-solutions-inc-301202645.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jan 5, 2021 9:25 AM

CleanSpark Provides Bitcoin Mining Operation Update

SALT LAKE CITY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- SALT LAKE CITY, January 5, 2020 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced updated total Bitcoin mining numbers and revenues following its acquisition of its wholly owned subsidiary, ATL Data Centers LLC.

From December 10, 2020 the first full-day of mining following the acquisition, through the end of the calendar year, CleanSpark produced just over 31 Bitcoins from its mining activities. Production since the first of the year has exceeded 4.3 Bitcoins. Bitcoin prices have rapidly escalated to as high as $34,366 over the holiday weekend. The Company's Bitcoin mining activities have resulted in roughly $873,000 of revenue since the closing of the transaction.

Zach Bradford, CEO of CleanSpark commented, "We believe in taking a big-picture approach in how we view Bitcoin values with a focus on profitability. Conservatively, based on our all-in costs including energy, rent, personnel and overhead the Company can realize a profit whenever Bitcoin values are above $6,000 per coin. We anticipate that as we scale up our deployment of energy assets and software, we can decrease our total cost per coin to even lower levels. As prices fluctuate, the Company's focus is on the variables within our control; such as expanding the fleet of miners, and maximizing the renewable energy usage. We anticipate completion of our near-term expansion within the coming weeks adding 1,500 more ASICs miners in January. We will continue to provide periodic updates as we make additional progress on our expansion plans with the intention of increasing production at our Atlanta facility from the current approximately 15 MW to more than 50 MW. All of this is to swiftly move towards our goal of mining bitcoins at the lowest energy cost in the United States."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit: https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the price of Bitcoin (BTC), the timing of our expansion plans, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Dec 31, 2020 9:25 AM

CleanSpark Achieves Another Record Revenue Year, Discusses Growth Plans in Annual Statement to Shareholders

CleanSpark Achieves Another Record Revenue Year, Discusses Growth Plans in Annual Statement to Shareholders

CleanSpark Inc. Delivers in Excess of 100% Year-Over-Year Revenue Improvement for the Third-Consecutive Year.

PR Newswire

SALT LAKE CITY , Dec. 31, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, is pleased to update its shareholders and further comment on the Company's financial results presented in its most recent Form 10-K. The Company recommends that readers also review the previously filed 10-K in its entirety, which is available free of charge to all interested parties on its website or on www.sec.gov .

CleanSpark Looks Toward 300% Revenue Growth

Dear Fellow Shareholders,

The COVID-19 pandemic presented many hardships throughout the year that have touched us all in some way or another. With the recent progress being made by the medical community and a growing optimism surrounding the economy, we are increasingly confident about the status of our company and the promise of the future. As we discussed in our comments following the report of our third-quarter results, we consider the Company extremely fortunate to have continued to thrive during the global challenges of 2020. The professionalism demonstrated by the CleanSpark team to readily shift to a 'work-at-home' environment in a seamless transition was certainly the foundation for our continued successes. We found ourselves in the midst of commissioning some of our first international microgrid deployments just as countries around the world closed their borders to foreign travel. In response, our software team was able to successfully and rapidly develop a remote deployment and commissioning strategy that enables our partners to commission our systems remotely, including those located outside of the country. These upgrades, while mandatory in the face of COVID-19, will almost certainly improve our efficiencies and significantly reduce costs in future remote deployments as we continue to execute on our 'one to many' strategy to develop far reaching partnerships to enhance distribution.

Prior to CleanSpark completing a successful uplist to the Nasdaq stock market last January, the Company's management team forecast a revenue increase exceeding 100%. Not only were we able to achieve our projected numbers, but the Company also completed a series of strategic acquisitions that should prove to be tremendously valuable to all shareholders in the coming years. In addition to increasing our gross revenues, we've focused on streamlining all aspects of our operations to reach our goal of profitability within the coming year and paved this road with a series of carefully planned corporate transactions.

We're proud of the efforts of our amazing stakeholders across the entire enterprise for successfully achieving a number of significant wins for the Company, including:

  • During our 2020 fiscal year, we completed successful acquisitions of GridFabric and p2klabs. Both acquired companies are cashflow-positive and provide us with entirely new verticals for growth. Subsequent policy shifts (FERC2222) should further accelerate growth in the GridFabric segment.
  • The September ruling by the Federal Energy Regulation Commission, FERC 2222, is a massive policy shift in favor of the distributed energy market in particular and a significant win for CleanSpark. It should open up additional value streams for microgrid developers and owners to fully participate in wholesale markets. These opportunities are expected to dramatically improve microgrid economics and stimulate future deployments. Microgrid developers of all sizes should now be able to leverage CleanSpark's robust portfolio of technologies to tap into these opportunities and offer significant value for their customers.
  • CleanSpark successfully commissioned its first two microgrids within Costa Rica . The commercial customers utilize mPulse to manage the day-to-day performance of the power system, maximizing the energy savings while providing certainty of operations through the Tesla  battery energy storage systems provided on site.
  • In early December 2020 , we acquired ATL Data Centers in an ' all-stock' transaction. By leveraging our proprietary technologies, the Company expects to increase Bitcoin production while lowering total energy costs, thereby maximizing overall profitability. The anticipation of producing Bitcoins at what we believe will be potentially the lowest total energy cost in America is expected to be a substantial opportunity to market our proprietary energy solutions to other energy intensive operations throughout the world.
  • Since the acquisition, Bitcoin has traded as high as $28,500 per coin.  We've also ordered an additional 1,500 ASICS miners since the closing of the ATL transaction, with plans to fully deploy this order of miners in January 2021 . Management believes that recent moves by companies such as Square, PayPal, MicroStrategy and others have furthered the validation of Bitcoin, and expects that energy efficiency will soon become a priority. The addition of new miners, paired with the recent market performance of Bitcoin prompted the company to raise our revenue guidance to $30M for fiscal 2021, 300% of what we successfully delivered in 2020.
  • The Company further improved its corporate governance and oversight by appointing two new independent board members and creating a fully independent audit and compensation committee. CleanSpark enhanced its reliable, talented, and goal-oriented management team, including the promotion of Zach Bradford as its Chief Executive Officer, the appointments of Lori Love , as Chief Financial Officer, Amer Tadayon as Chief Revenue Officer, and Marty Weishaar as Vice President of Marketing. The Company's co-founder and former CEO, Matthew Schultz assumed new duties as the Executive Chairman. Our team has now grown to 62 full-time staff members as of December 29, 2020 .
  • Along with ReJoule, Inc., we were jointly awarded a $2.9 Million grant from the California Energy Commission with support from the Ford Motor Company  for second-life EV battery deployments. The first joint deployment is expected to occur in the next quarter.
  • The software and product team launched new features for our two product lines
    • In mVSO, we began the year with an expanded equipment library for energy storage that has only grown over the last 9 months and continued our improvements by releasing a revamped user experience and additional functionality around modeling different rate structures and demand response programs.
    • mPulse published four separate feature-set releases to customers as well as an expanded web portal to enable self-service of user and alert management, pre-configured performance reports, and custom data exports.
  • We're looking forward to accelerating our software capabilities and features across the CleanSpark family of products, including GridFabric. We believe the growth will be due in part to the increase in our software team that has nearly doubled in size within the last two months.
  • CleanSpark commissioned multiple microgrids controlled by our mPulse hybrid-cloud control software in our fiscal 2020 year. These microgrids span the industrial, commercial, and indoor agriculture industries. mPulse is already optimizing renewable energy usage and providing energy cost savings at each site. In addition, we shipped over 70 Switchgear units to commercial and industrial customers ensuring resiliency and seamless power availability. These units now support US Embassies, critical water treatment facilities and a number of locations of the nation's largest retailer.
  • In October, the Company closed an underwritten public offering of its common stock and received gross proceeds of $40 million before deducting underwriting expenses and fees. CleanSpark intends to continue to use the net proceeds from the offering to support its future growth through increased sales and marketing, product development and software enhancements/ improvements, and additional strategic mergers and acquisitions, along with general corporate purposes.

Outlook

The Company expects the somewhat cyclical nature of our business to continue. As an example, approximately 10% of our fiscal 2020 revenue was realized in the quarter ending December 31 , 2019.  We anticipate this trend will continue in fiscal 2021 and we forecast that our second and third fiscal quarters will again be our strongest. We expect to generate $20 million in revenue related to our current business segments and we expect the recent acquisition of ATL Data Center to contribute a minimum of $10 million in additional Bitcoin-based (BTC-USD) revenues for 2021. We are working diligently to expand the data center capacity allowing us to further increase these initial estimates, but the Company's guidance will remain somewhat conservative until the expansion has been completed and we have sufficient data to forecast a firm outlook. Finally, as we have only recently begun to integrate ATL into our operations, we have not yet measured the potential additional value expected to be derived from the demonstration of our energy technologies within the data center for additional microgrid deployment and sales opportunities.

We are thankful for the dedicated support from all of our stakeholders. We continue to put our efforts towards increasing shareholder value, achieving profitability, and improving our margin profile through increased software and service revenues. We are aggressively seeking new acquisition opportunities for 2021, along with identifying partnerships and product enhancements that will expedite our growth as a company. Finally, our previously discussed data center and Bitcoin mining expansion has begun as of this writing, while we continue to seek additional growth opportunities.

We sincerely, thank you for your continued support of CleanSpark.

With warmest regards, and wishes for a very healthy, happy and prosperous 2021, your fellow shareholders,

Zach and Matt

Zachary Bradford , CEO
and
S. Matthew Schultz , Executive Chairman

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States . For more information, visit

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the price of Bitcoin (BTC), the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-achieves-another-record-revenue-year-discusses-growth-plans-in-annual-statement-to-shareholders-301199540.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 28, 2020 2:27 PM

CleanSpark to Discuss Bitcoin Mining Acquisition and Related Growth Opportunities

Expected Topics to Include Bitcoin Price Surge, Electricity Expansion, Addition of New ASIC's

SALT LAKE CITY, Dec. 28, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, December 28, 2020 -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, will be participating in the Water Tower Research Fireside Chat Series on Tuesday, December 29, 2020, at 3:00 pm ET. Topics covered will include insight into the company's Bitcoin mining operation and newly-revised 2021 guidance including the ATL Data Center acquisition.

The chat will feature Zachary Bradford, CleanSpark's Chief Executive Officer. The host and moderator will be Shawn Severson, Head of Sustainable Investing at Water Tower Research. A brief question and answer session focusing on the Company's year-end 2020 filing will follow.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1417925&tp_key=a01739ed15

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.

Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 5,900 ASIC and 300 PH/s in mining capacity by early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the closing of the transaction, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Dec 22, 2020 9:30 AM

CleanSpark Announces Additional 1,000 Unit ASIC Bitcoin Miner Order for January Delivery

CleanSpark Announces Additional 1,000 Unit ASIC Bitcoin Miner Order for January Delivery

Miners Ordered Since Acquisition to Increase Capacity by More Than 33%

PR Newswire

SALT LAKE CITY , Dec. 22, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or the Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, is pleased to announce that it has secured an additional 1,000 ASICs (Application-specific integrated circuit) Bitcoin miners, slated for delivery and commissioning in the coming month. This order, when paired with the 500 ASICs announced last week and installation of the new S19s, is expected to increase the Company's mining capacity by more than 100 PH/s to approximately 300 PH/s.

CleanSpark's Bitcoin Mining Capacity to Increase More Than 33%

"We are excited about demonstrating the efficiency of microgrid solutions on high-density energy operations. As we work towards the implementation of the facility power system upgrade, our focus is on maximizing the total Bitcoin output by immediately adding ASICs. In the Bitcoin mining industry, time is money, and due to the meteoric rise in price, ASIC miners are exceedingly difficult to procure. Many mining companies, both publicly traded and privately held, have stated plans to expand capacity in six to nine months, however we have focused on sourcing units for immediate deployment. As Bitcoin prices have continued to rise, and industry leaders such as Square, PayPal, MicroStrategy and others have made substantial investments in Bitcoin, we believe this strategy will provide exceptional returns for our shareholders," stated Zachary Bradford , CleanSpark's President and Chief Executive Officer. "This opportunity presented us a chance to deploy additional resources in furtherance of our strategy to utilize the available energy supply in the most efficient and profitable manner possible," concluded Bradford.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the value of Bitcoin, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-additional-1-000-unit-asic-bitcoin-miner-order-for-january-delivery-301197386.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 18, 2020 9:15 AM

CleanSpark Provides Update on Bitcoin Mining Operations and Expansion

CleanSpark Provides Update on Bitcoin Mining Operations and Expansion

SALT LAKE CITY , Dec. 18, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today provided an update on its recent acquisition of ATL Data Center LLC ("ATL").

The Company previously announced that this acquisition was centered around the opportunity to deploy its patented microgrid software and controls at the data center location to increase power capacity, energy savings, and resiliency. CleanSpark believes this will demonstrate to other mining operations the value of its microgrid solutions using distributed energy sources including solar, energy storage and other renewables in a real-world, power-intensive application.

CleanSpark Updates Bitcoin Mining Expansion

By leveraging its proprietary microgrid technologies, the Company expects to increase Bitcoin production while lowering total energy expense, thereby maximizing overall profitability. Since the acquisition was announced one week ago, and as of this release, CleanSpark through ATL has earned approximately 10 Bitcoins. As of December 17, 2020 , Bitcoin has traded as high as at $23,775 , increasing from $18,279 on the day acquisition was completed.

This week, the Company placed an order for 500 additional Bitcoin mining units ("ASICs") to be deployed at the ATL location in Atlanta, GA. Delivery of the new ASICs is scheduled for the second week of January.  CleanSpark has also installed an additional 38 new S19 ASICs just this week. These new machines are in addition to the more than 3,400 ASICs already in daily operation onsite.  Bitcoin miners receive incremental amounts of Bitcoin as payment for completing blocks of verified transactions which are subsequently added to the blockchain.

Zachary Bradford , CleanSpark's CEO said, "We are extremely pleased with the first week post acquisition, ATL has continued mining without significant interruption during integration of our teams and the ability to quickly procure additional miners immediately increased our capacity. With the latest S19s deployed we have now exceeded 200PH/s of mining capacity."  He added, "We are focused on successfully deploying renewable energy assets in digital currency mining, and CleanSpark anticipates upon implementation of its solutions that its total costs to mine at ATL will be among the lowest in the United States ."

Matthew Schultz , CleanSpark's Executive Chairman commented, "Doing the simple math, 10 bitcoins have added roughly $200,000 to CleanSpark's revenues in the week since closing. Our commitment to ATL was to give their team of experts autonomy in their mining operations, but also provide crucial resources and support to expand the facility and increase profitability."  Schultz added, "This begins by providing energy solutions, but additionally by supporting the procurement of new mining equipment to increase output and efficiency, as evidenced by the new ASICs deployed thus far."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years. For more information, visit https://ATL-DATA.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the value of Bitcoin, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-provides-update-on-bitcoin-mining-operations-and-expansion-301196031.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 17, 2020 6:06 PM

CleanSpark, Inc. Reports Fiscal 2020 Financial Results

CleanSpark, Inc. Reports Fiscal 2020 Financial Results

SALT LAKE CITY , Dec. 17, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for its fiscal year ended September 30, 2020 .

Financial Highlights

  • As the Company forecasted a year ago, CleanSpark more than doubled our annual revenues, with fiscal 2020 revenue exceeding $10.0 million , an increase of 122% from $4.5 million for the prior year. These results represent the third consecutive year in which revenues more than doubled.
  • Gross Margin increased 21.1% to $2.12 million compared 14.9% and $0.67 million to the prior year.
  • Loss from operations improved by $1,470,729 compared to the prior year.
  • Net loss improved by $2,770,780 compared to the prior year.
  • Non-GAAP net loss for the fiscal year ended September 30, 2020 totaled $466,000 or $(0.03) per basic and diluted share, compared to income of $106,000 or $0.01 per basic and diluted share in the same year-ago period.
  • Operational successes resulted in raising $44 million in funding over the last 12 months. These funding transactions are expected to provide long-term financial stability for the foreseeable future as the company moves towards profitability.

2020 Operational Highlights

  • CleanSpark successfully uplisted to the Nasdaq Capital Market in January 2020
  • The Company improved corporate governance and oversight by appointing two new independent board members and the creation of a fully independent audit and compensation committee.
  • CleanSpark further developed its reliable, talented and goal-oriented management team, including the promotion of Zach Bradford as its Chief Executive Officer, the appointments of Lori Love , as Chief Financial Officer, Amer Tadayon as Chief Revenue Officer, and Marty Weishaar as VP of Marketing. The Company's co-founder and former CEO, Matthew Schultz assumed new duties as the Executive Chairman. Our team has now grown to 62 full-time staff members as of December 16, 2020 .
  • During our fiscal year, we completed successful acquisitions of GridFabric and p2klabs. Both acquired companies are cashflow-positive and provide us with entirely new verticals for growth.
  • We implemented new sales and marketing initiatives resulting in significant increases in overall revenues, contracted backlog, and proposal pipeline.
  • CleanSpark, Inc. and ReJoule were jointly awarded a $2.9 Million grant from the California Energy Commission with support from the Ford Motor Company for second-life EV battery deployments. The first joint deployment is expected to occur in the next quarter.
  • The Company announced a microgrid development agreement with International Land Alliance.  According to the terms of the contract, CleanSpark is expected to provide microgrid power solutions to more than 400 unique residential resort properties.

Financial Summary

Revenues

The Company recognized more than $10.0 million in revenues during the year ended September 30, 2020 , as compared with $4.5 million in revenues for the year ended September 30, 2019 .

For the year ended September 30, 2020 and 2019 our revenue was derived from two business segments:

Energy Segment - Consisting of our CleanSpark, LLC., CleanSpark Critical Power Systems, Inc. and GridFabric, LLC lines of business, this segment provides services, equipment and software to the energy industry. The income from our Energy Segment is the result of contracts to sell switchgear equipment, perform engineering and design services, and provide software for distributed energy and microgrid systems.

Digital Agency Segment - The Company's wholly owned subsidiary p2klabs, Inc. provides design, software development and other technology-based consulting services.

Our Energy business segment contributed $9.0 million or 90% of consolidated revenue in fiscal 2020, compared to $4.5 million or 100% of consolidated revenue in the same year-ago period. The Company's digital agency segment generated services revenue from our p2klabs subsidiary, acquired in January 2020 . This segment contributed $1.0 million or 10% of consolidated revenue in 2020.

Gross Profit

Our gross profit for the year ended September 30, 2020 was $2.12 million or 21.1% of revenue, as compared with gross profits of $0.6 million or 14.9% of revenue for the year ended September 30, 2019 . The increase in gross margin was largely driven by increased high-margin revenues derived from our software services and related revenue.

Operating Expenses

Our 2020 operating expenses were approximately the same as our operating expenses for the same period in 2019. Operating expenses as a percentage of revenue improved to 122% in 2020 versus 381% in the prior year.

Other (expense)

The Company's total other expenses in the year ending September 30, 2020 totaled approximately $(8.2) million as compared to $(9.5) million in 2019. The Company experienced significant non-cash expenses related to interest and capital expenses associated with prior financing agreements. We do not anticipate experiencing the same type of expenses in 2021.

For the year ending September 30, 2020 , net loss attributable to common stockholders on a GAAP basis totaled $23.3 million or $(2.44) per share in 2020 compared to a loss of $26.1 million or $(6.25) per share in 2019.

Non-GAAP figures

Adjusted EBITDA, a non-GAAP term, resulted in negative $4.91 million in 2020, as compared to negative $4.35 million in 2019.

Non-GAAP net loss attributable to common stockholders totaled $4.93 million or a loss of $(0.52) per share in 2020, as compared to $4.89 million or a loss of $(1.17) per share in 2019.

Working capital

Cash and cash equivalents totaled $3.1 million as of September 30, 2020 , as compared to $7.8 million on September 30, 2019 . Just after our fiscal year end, on October 9, 2020 , the Company closed an underwritten offering and received gross proceeds of $40 million , before deducting underwriting expenses and fees. The company believes its current cash position and other available funds provide it with sufficient liquidity to meet its cash requirements for current operations and to continue to fund its growth.

The Company's form 10-K and accompanying audited financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/

Management-Commentary

"This was an excellent year for CLSK, despite challenging economic conditions resulting from the COVID-19 pandemic. Fortunately, the impact of the COVID pandemic on CleanSpark has been relatively minimal to date.

From an operations perspective, we successfully transitioned our workforce to a remote model for the majority of the year. Fortunately, prior to the start of 'stay at home' orders, we already had more than 50% of our workforce working remotely full-time or part-time. Additionally, all remote staff members were equipped with the required equipment to make the transition from office to home rather seamless. As a result, we experienced minimal internal disruption to our business, while productivity continues to remain high. Additionally, the Company successfully adapted our software delivery model to support remote commissioning. These strategic improvements will benefit us well beyond the end of the pandemic by reducing global deployment expenses. In the short term, the adaptation of these parameters significantly decreased the impact of the virus on deployments.

Our focus has been on maintaining consistency in the timely delivery of our products; increasing our sales efforts, enhancing the features and functionality of our software products as well as the completion of accretive acquisitions. The acquired companies provide immediate profitable and scalable revenues; and lastly, strengthening our balance sheet by raising more than $40 million in working capital.

Our reported backlog at the end of our prior fiscal year of $6.4 million , consisting of contracted revenue not yet delivered. Following the successful execution of those contracts, the current contracted backlog remains strong at approximately $6.5 million as of the date of this filing. Our current proposal pipeline is approximately $25.0 million , an increase from roughly $10.0 million we had as recently as the close of our fiscal year on September 30, 2020 . This increase is directly attributable to our newly expanded sales team.  We expect our proposal closing rate to accelerate as COVID-19 vaccines begin to be made available to the public in the coming quarters. We believe our increase in backlog demonstrates the pent-up demand for resilient, distributed energy solutions as the pandemic nears a close," stated Zach Bradford , CleanSpark's CEO.

Outlook

The Company expects the somewhat cyclical nature of our business to continue. As an example, approximately 10% of our fiscal 2020 revenue was realized in the quarter ending December 31 , 2020.  We anticipate this trend will continue in fiscal 2021 and we forecast that our second and third fiscal quarters will again be our strongest. We expect to generate $20 million in revenue related to our current business segments and we expect the recent acquisition of ATL Data Center to contribute a minimum of $8 million in additional Bitcoin-based (BTC-USD) revenues for 2021. We are working diligently to expand the data center capacity allowing us to further increase these initial estimates, but the company's guidance will remain somewhat conservative until the expansion has been completed and we have sufficient data to forecast a firm outlook. Finally, we have not measured the potential additional value expected to be derived from the demonstration of our energy technologies within the data center for additional microgrid deployment and sales opportunities.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the company. The company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization,  impairment of long-lived assets, financing costs, stock-based compensation expense, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CLSK management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the company's core business operating results and those of other companies, as well as providing the company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.

The company's adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. The company's adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. CLSK management does not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.



September
30, 2020


September
30, 2019

Net loss (US GAAP)

$

(23,346,143)

$

(26,116,932)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


2,672,331


1,902,981

Software amortization


163,918


1,453,635

Stock based compensation


2,053,232


1,993,043

Accrued employee stock-based compensation


2,732,045


-

Impairment expense


-


6,915,186

Interest, financing charges, non-cash amortization of debt discounts


10,758,750


9,483,662

Non-cash amortization of right of use assets


44,569


-

Loss on settlement of debts and disposal of assets


5,218


19,425

Total:

$

18,430,063

$

21,767,932






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(4,916,080)

$

(4,349,000)

Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. CLSK management believes that exclusion of certain selected items assists in providing a more complete understanding of the company's underlying results and trends and allows for comparability with its peer company index and industry. CLSK management uses this measure along with the corresponding GAAP financial measures to manage its business and to evaluate the company's performance compared to prior periods and the marketplace. The company defines Non-GAAP (loss) income attributable to common stockholders as (loss) or income before amortization, stock-based compensation, expenses related to discontinued operations, impairment of long-lived assets and non-cash financing and interest expense. Adjusted EPS expresses adjusted (loss) income on a per share basis using weighted average diluted shares outstanding.

Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The company expects to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from the company's presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

The following table sets-forth non-GAAP net loss attributable to common stockholders and basic and diluted earnings per share:



September
30, 2020


September
30, 2019

Net loss (US GAAP)

$

(23,346,143)

$

(26,116,932)

Less: Depreciation, amortization and other non-cash items:





Depreciation and amortization


2,672,331


1,902,981

Software amortization


163,918


1,453,635

Stock based compensation


2,053,232


1,993,043

Accrued employee stock-based compensation


2,732,045


-

Impairment expense


-


6,915,186

Non-cash interest, financing charges, non-cash amortization of debt discounts


10,744,588


8,963,829

Non-cash amortization of right of use assets


44,569


-

Total:

$

18,410,683

$

21,228,674






Non-GAAP Adjusted Loss

$

(4,935,460)

$

(4,888,258)






Weighted average common shares outstanding - basic and diluted


9,550,626


4,177,402

Loss per common share - basic and diluted

$

(0.52)

$

(1.17)

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, the successful and continued integration of acquired businesses, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.

Investor Relations

(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-inc-reports-fiscal-2020-financial-results-301195667.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 15, 2020 9:25 AM

CleanSpark Announces Partnership with Solar and Storage Developer Symmetric Energy

CleanSpark Announces Partnership with Solar and Storage Developer Symmetric Energy

SALT LAKE CITY , Dec. 15, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today announced it has partnered with Symmetric Energy (Symmetric) to target new microgrid projects in Northern California . The objective will be to provide reliable back-up energy or off-grid power using a combination of solar PV and energy storage for both commercial and estate-level residential microgrids.

CleanSpark Signs Another Partner for Microgrid Deployments

Symmetric is designing solar and storage solutions that provide "Peace of Mind" battery back-up services for residential customers and energy security at an industrial scale for commercial implementations. Symmetric is based in San Rafael, CA and serves all of the Bay Area counties including Marin , Sonoma , Napa , San Mateo , Santa Clara , as well as the surrounding areas which have a history of fire and weather-induced power outages and demand constraints.

In anticipation of the partnership, CleanSpark and Symmetric have already begun project development for off-grid residential projects to be managed by CleanSpark's patented mPulse intelligent controls for solar and storage. Additionally, the agreement provides that mVSO, CleanSpark's design and modeling software, is to be used to analyze upcoming projects and RFPs for Symmetric.

Amer Tadayon , CleanSpark's Chief Revenue Officer commented, "We are excited to announce another partnership with a well-established solar and storage developer in California.  We believe that partnering with CleanSpark for design and controls software along with the co-marketing capabilities of our team will allow Symmetric to rapidly generate many more microgrid projects.  With Symmetric, CleanSpark will be able to provide mPulse to a substantial number of projects through a trusted, existing relationship."

Elliott Jessup , Director of Business Development for Symmetric Energy stated, "We had identified the need to offer intelligent software and controls to provide energy security, resiliency and cost-avoidance to our long-term clientele.  We analyzed a number of options and determined that CleanSpark's control solution will best provide our clients with savings, secure backup power, and even provide off-grid capabilities when the need arises.  CleanSpark will provide us with the resources, relationships and technologies to ensure that the energy solutions are properly optimized to meet the needs of our discerning residential and commercial customers."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at mailto:ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About Symmetric:

Symmetric Energy provides custom tailored solutions to give your home or place of work energy independence and a level of energy cost savings that only a well-designed solar system can provide, please inquire directly at info@symmetricenergy.com or visit the website at https://www.symmetricenergy.com/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of the partnership with Symmetric, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-partnership-with-solar-and-storage-developer-symmetric-energy-301193088.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 10, 2020 9:20 AM

CleanSpark Agrees to Acquire Bitcoin Miner ATL Data Center

CleanSpark Agrees to Acquire Bitcoin Miner ATL Data Center

SALT LAKE CITY , Dec. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK)("CleanSpark" or the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today announced it has agreed to acquire ATL Data Centers, LLC ("ATL") for up to $19.4 million in shares of the Company's common stock.

Microgrid leader CleanSpark acquires Bitcoin mining firm to deploy renewable energy solution.

This transaction represents the first strategic acquisition as part of a larger growth plan following CleanSpark's recent $40M institutional investment. ATL creates a unique business opportunity as a full-scale, profitable demonstration facility for the Company. The property is currently served by two separate utility interconnections with entirely different rate structures that power individual segments of the business. CleanSpark plans to deploy its software technologies and trade secrets to maximize energy savings, expand total power capacity, provide resilient electricity, and reduce greenhouse gas emissions. The Company anticipates that this will involve the design and installation of multiple microgrids at the facility. Each microgrid would be focused on a specific function, however, the fractal topology of the design will enable them to be interconnected to share power, creating resiliency as well as maximizing total facility efficiency. Since power resiliency directly supports increased profitability in data or processor intensive applications, the Company's ability to deliver high power reliability is expected to demonstrably increase profitability of each segment of the existing business.

As part of the first phase, the Company has contracted with the local municipality to expand the power to the facility from 20MW to 50MW.  It is expected that this expansion will begin promptly and be completed in April 2021.  In addition to this initial utility-level expansion, CleanSpark will begin modeling solutions with its proprietary mVSO software and subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls. Additionally, the Company intends to more than quadruple the number of ASIC (application specific integrated circuit) mining units in operation during the expansion.

As the new policies of FERC 2222 begin to take effect over the coming year, CleanSpark expects to be uniquely positioned to benefit from the implementation of the regulation using its GridFabric applications and other technologies to maximize market opportunities.

Ultimately, it is envisioned that the facility will feature a real-time web-based view of power and dollar savings generated by CleanSpark's technology, offering clients a unique opportunity to see demonstrated savings in a real-world, power-intensive application.  This data will allow clients to make microgrid investments with more reliable information.

Zachary Bradford , CleanSpark's CEO said, "As part of our strategic acquisition initiative, we identified energy-intensive companies facing the greatest amount of exposure to high power costs and resiliency risk.  Our prior experience in the digital currency mining industry provided insight into how proper energy management was crucial to successful and profitable mining operations.  In 2018, CleanSpark's energy professionals were tasked to design and engineer a microgrid solution for a 'stand-alone' mobile bitcoin mining system.  As part of the ATL complex we now have 23 such mobile mining rigs in addition to the main facility. This acquisition enables us to take our prior designs and expand upon them at a much greater scale.  We believe today's transaction allows us to obtain a significant and rapid return on our investment while further validating our energy technologies.  We began early-stage analysis of ATL in February 2020 to evaluate expanding the facility's energy capacity and reducing energy costs. After an in-depth examination of the profitability under the existing energy structure, it was apparent that it was a perfect fit to deploy the aforementioned strategy.

There are currently 3,471 bitcoin mining units ("ASICs") in daily operation on site, processing approximately 190 PH/s which are using approximately 9.6 MW of capacity.  We anticipate that upon completion of the equipment and energy expansion, the facility is expected to produce between 0.9-1.4 EH/s, depending on the final configuration and ASICs deployed. We expect that this will result in multiple bitcoins being produced daily at some of the lowest energy costs in the nation for this type of enterprise.  The Company expects to demonstrate that, by using our technologies, we can reduce the cost of energy to below $0.0285 per kw/h.  After successfully deploying the systems, we intend to take this model to other sites, many of which have significantly higher energy costs offering potentially greater opportunities for savings."

Matthew Schultz , CleanSpark's Executive Chairman commented, "The recent, significant investments into Bitcoin by such respected companies as Square, PayPal, and MicroStrategy further validate our due diligence conclusions surrounding this acquisition.  Our assessment regarding the need for renewable energy in digital currency mining was further supported this week when Square (NYSE: SQ) announced the intent to deploy $10M towards its Bitcoin Clean Energy Investment Initiative. This transaction should immediately position us as one of the largest publicly-traded Bitcoin producers in the country.  We will certainly be the only microgrid company that owns and controls the distributed energy supply to its own mining activities, in furtherance of developing our best-in-class technologies. Our efforts will demonstrate to potential clients in this space an easily transferable, low risk for execution model that can quickly enhance their bottom line."

With respect to the above transaction "Buckman, Buckman & Reid, Inc. acted as a non-exclusive Investment Advisor. Buckman, Buckman & Reid, Inc. was founded in 1988 as a registered broker dealer with the Securities and Exchange Commission ("SEC"), Securities Investor Protection Corp. (SIPC) and member of the Financial Industry Regulatory Authority ("FINRA"). BB&R is a full-service securities brokerage firm engaged in a variety of activities, including retail and institutional brokerage, wealth management, investment advisory services, private offerings and other investment banking activities.

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

CleanSpark periodically speaks at virtual conferences and events, if the event was recorded the recordings can be found on the events page at https://ir.cleanspark.com .

About CleanSpark:

CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges.  We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications and energy management solutions.  Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering and software consulting services.

About ATL Data Centers, LLC

ATL Data Centers LLC is a traditional data center operation located in the City of College Park, GA , just minutes from the Hartsfield-Jackson International Airport.  In addition to providing customers with rack space, power and equipment, ATL Data Centers LLC also offers several "Cloud Services" including, virtual services, virtual storage, and data backup services.

ATL Data Centers also manages 23 mobile data centers, located on site, which can be used for a variety of purposes, including ASIC (application-specific integrated circuit) operations or other services requiring heavy power use.  The mobile data centers allow easy access to server maintenance, and each mobile data center has dedicated power and cooling.  ATL Data Centers LLC currently has 14 full time staff supporting the data center operation around-the-clock, 365 days per year.   The management team has a combined industry experience of more than 100 years.
https://www.atl-data.com

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of ATL into CleanSpark, the closing of the transaction, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-agrees-to-acquire-bitcoin-miner-atl-data-center-301190492.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Dec 8, 2020 3:05 PM

CleanSpark to Participate in Water Tower Research Fireside Chat Series on Growth and Expansion

SALT LAKE CITY, Dec. 08, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, December 8, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company will be participating in Water Tower Research Virtual Conference and Fireside Chat Series on Thursday, December 10, 2020, at 3:00 pm ET. Topics covered will include the Company's expansion strategy through continued innovation and technology surrounding its distributed energy software. The chat will feature CleanSpark's Chief Executive Officer, Zachary Bradford and will be moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research. It will also cover growth opportunities that will come from the Company's strategic, accretive acquisition strategy, including potential expansion within target verticals.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1412720&tp_key=55bbb89d9e

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of it product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


Investor Relations CleanSpark, Inc. (801)-244-4405 
News Provided by GlobeNewswire via QuoteMedia

Nov 19, 2020 9:29 AM

CleanSpark's GridFabric Finalizes OpenADR Certification for EV Fleet Charging Company Electriphi

CleanSpark's GridFabric Finalizes OpenADR Certification for EV Fleet Charging Company Electriphi

PR Newswire

SALT LAKE CITY , Nov. 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that its wholly owned subsidiary, GridFabric, has finalized an OpenADR certification for Electriphi, Inc. (Electriphi), an award winning EV fleet charging and energy management company. Electriphi's charging management platform has now been added to the official list of OpenADR certified products.

CleanSpark's GridFabric Certifies Electriphi-EV Fleet Charging for OpenADR

https://products.openadr.org/product/electriphi-inc-electriphi-charge-management-platform/

GridFabric's Plaid product provides companies like Electriphi with the fastest way to get their platform OpenADR certified and be fully enabled to participate in utility load shifting programs throughout the country.

Emerging from stealth mode in late 2018, Electriphi has launched and deployed its software and services with marquee customers across various sectors in the utility and fleet space, along with announcing funding and multiple partnerships.  Electriphi provides EV fleet planning services and tools for total cost of ownership calculation, as well as an EV energy management platform that saves energy and infrastructure costs while ensuring operational readiness for fleets.

Sanjay Dayal , Co-Founder and CTO of Electriphi, said of the announcement, "We were able to become fully certified much faster by partnering with GridFabric, becoming OpenADR Compliant with speed and accuracy furthers our strategy of guiding an open-standards based platform that is compatible across a variety of charging infrastructure and EV fleet vehicles. OpenADR certification ensures platform compatibility with leading utilities to integrate into their installation and demand response incentive programs and should be key to continued growth in 2021."

Zachary Bradford , CleanSpark's CEO commented, "We were thrilled to assist a cutting-edge company like Electriphi who brings the vision of clean, green technology to the EV fleet space.  GridFabric has certified eight EV companies since the Company's inception, with six highly diverse EV providers certified through our OpenADR solutions just this year. This is proving to be a great vertical in general, and GridFabric has been able to help a number of very exciting start-ups and fast growth tech companies expedite their go-to-market plan."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Electriphi

Electriphi, Inc. is a developer of award winning software solutions and services for EV fleet and energy management. It offers an open-standards based charging and operations management platform that saves energy costs and simplifies the transition to electric vehicle fleets. For more information, please visit https://www.electriphi.ai .

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the GridFabric Plaid product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleansparks-gridfabric-finalizes-openadr-certification-for-ev-fleet-charging-company-electriphi-301177148.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Nov 10, 2020 9:25 AM

CleanSpark Adds Former Zappos Counsel and a New Vice President of Operations

CleanSpark Adds Former Zappos Counsel and a New Vice President of Operations

PR Newswire

SALT LAKE CITY , Nov. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), a diversified software and services company today announced that it has recently added Rachel Silverstein and Owen Cadwalader to its management team. Mrs. Silverstein is former Corporate Counsel at Zappos, a company owned by Amazon, Inc. Silverstein's role at CleanSpark is to serve as the Vice President of Compliance and General Counsel where she will be assisting in compliance, mergers and acquisitions, as well as all general legal matters. Mr. Cadwalader was most recently an executive with Molekule, a clean-air technology company. Prior to Molekule, Owen served as VP/Co-founder of OptiRTC a cloud software platform for smart water management. As VP of Operations, Cadwalader will oversee product delivery, customer experience, and help align multiple virtual office teams to further streamline operations.

CleanSpark Adds New VP and General Counsel from Zappos

These are the first significant additions to the team as part of a larger growth plan following the Company's recent $40M institutional investment. CleanSpark has stated that it intends to focus on growth through accretive opportunities and expansion of the Company's product offerings, in addition to adding to sales and marketing efforts. CleanSpark expects to add to its existing professional engineering teams in addition to sales and business development personnel.

Zachary Bradford , CleanSpark's CEO said, "We are very excited to have Mrs. Silverstein join the management team as it will provide increased efficiencies in all areas of our operations and compliance. We expect that by adding such experienced inside General Counsel we can streamline many processes and procedures, ultimately creating greater value for all stakeholders." Bradford then added, "Mr. Cadwalader's experience should begin to pay dividends to CleanSpark almost immediately. Previously, as VP/Co-founder of OptiRTC, Owen developed an expertise in monitoring and adaptive control of stormwater systems which makes him a great fit for CleanSpark's energy control technology. Essentially, critical water flow is managed through opening and closing water distribution valves and systems, similarly electrical energy is controlled by opening and closing critical circuit breakers."

Matthew Schultz , CleanSpark's recently-named Executive Chairman stated, "We expect these additions to represent the beginning of a new phase for the Company that will feature personnel expansion, product enhancements, and strategic acquisitions. We recently announced the development of the GridFabric SaaS (Software-as-a-Service) option, and plan to soon provide an EaaS (Energy-as-a-Service) offering as well. These initiatives will be supported by additional staff on the CleanSpark product and sales teams and through CleanSpark's wholly owned subsidiaries."

CleanSpark recently participated in Solar Power International, part of Smart Energy Week, where the Company's CTO Amanda Kabak was featured as a Presenter.  CEO Zachary Bradford also provided additional updates to investors on the company's funding via a presentation through the RenMark Investor Roadshow. Both recordings can be found on the events page at https://ir.cleanspark.com .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-adds-former-zappos-counsel-and-a-new-vice-president-of-operations-301169857.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Nov 3, 2020 9:00 AM

CleanSpark Announces Platinum Sponsorship at Microgrid 2020 Global Conference

SALT LAKE CITY, Nov. 03, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, November 3, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), (the "Company) a diversified software and services company, today announced that it will be one of the Platinum Sponsors at the upcoming Microgrid Knowledge 2020 Global Conference, held November 17-19. This is the largest conference that focuses solely on Microgrids, and it will have hundreds of decision makers from all aspects of the industry in attendance. Participants are expected to represent utilities, developers and policymakers interested in microgrids and advanced distributed energy solutions.

As a Platinum Sponsor, the Company will be provided with a number of featured placements within the conference communication and virtual tradeshow environment. CleanSpark was previously asked to participate in an expert roundtable on the future of microgrid controls. Amanda Kabak, CleanSpark's CTO, will discuss technology advancements surrounding software and controls in the session, and in particular how they are helping optimize microgrids to efficiently achieve greater resiliency and cost savings.

CleanSpark's CEO Zachary Bradford stated, "Having an existing, long-term relationship with Microgrid Knowledge, this is an opportunity to grow our partnership, and get our sales and business development teams in front of numerous additional prospects. We invest significant resources working with distributed energy, solar, and storage partners, and this forum connects us directly to our main target market. This global conference allows us a means to present to customers seeking microgrids, whether through mVSO for energy modeling and proposals or mPulse controls to optimize a microgrid to enhance savings and resiliency.

Kevin Normandeau, Publisher of Microgrid Knowledge, and organizer of the event said of CleanSpark's sponsorship, "We were excited to have CleanSpark join as a Platinum Sponsor and add another innovative microgrid technology company to a list of organizations that will be in attendance. Microgrid Global 2020 is our annual event which brings together hundreds of the most advanced energy companies and the decision-makers that want to learn and engage with microgrid technology providers."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Microgrid Knowledge:

Microgrid Knowledge leads the way providing news on microgrids and distributed energy resources. Microgrid 2020 Global is a highly interactive event for microgrid leaders to meet and shape the course to 2030. Gain insight into the latest opportunities, new business models, and trends in financing and policy. Network with prospects and partners on our sophisticated platform.  For more information on the conference, visit: https://microgridknowledge.com/microgrid-2020-conference/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations CleanSpark, Inc. (801)-244-4405 ir@cleanspark.com 
News Provided by GlobeNewswire via QuoteMedia

Nov 2, 2020 9:00 AM

CleanSpark CEO Zach Bradford to Participate in Water Tower Research Fireside Chat Series: Microgrid Optimization Technology to Help Power Industry Expansion

SALT LAKE CITY, Nov. 02, 2020 (GLOBE NEWSWIRE) -- SALT LAKE CITY, UT, November 2, 2020 - CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company that focuses on software for Microgrid Modeling and Controls will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Tuesday, November 3, 2020, at 3:00 pm ET. Topics covered by Mr. Bradford, CEO, and moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research, will be centered around the Company's technology innovation in microgrid control optimization for cost savings and resiliency.  It will also address recent funding and growth of the company thru sales and product development and acquisition.

During this fireside chat, Bradford will share how CleanSpark is strategically poised to take advantage of the large growth opportunity with the increase in demand for Microgrid solutions including Solar PV and Energy Storage. The discussion will also analyze the strategy behind CleanSpark's Energy-as-a-Service initiative as well as the benefit provided by recent acquisition of GridFabric which creates OpenADR software solutions for Demand Response compliance.

The global market for microgrids is rapidly expanding. According to Navigant Research, the Global Market for Microgrids is expected to experience a 28% Compound Annual Growth Rate from 2020-2029 nearing $40 billion.

Investors interested in participating in this event must register using the link below. As a reminder, registration for the live event is limited but may be accessed at any time for replay.

REGISTER HERE: https://globalmeet.webcasts.com/starthere.jsp?ei=1394269&tp_key=718ac75801

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations CleanSpark, Inc. (801)-244-4405 
News Provided by GlobeNewswire via QuoteMedia

Oct 28, 2020 9:25 AM

CleanSpark Announces Two New EV Contracts for GridFabric Software Subscriptions

CleanSpark Announces Two New EV Contracts for GridFabric Software Subscriptions

PR Newswire

SALT LAKE CITY , Oct. 28, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced that it has received two contracts with EV (Electric Vehicle) companies for the first deployments of its 'Plaid' product, sold as a software subscription.  The contracts were executed through CleanSpark's wholly-owned subsidiary GridFabric. GridFabric creates software solutions that help power utilities and IoT (Internet of Things) products that manage energy loads. Plaid specifically allows products of all types to add load shifting capabilities by translating load shifting protocols into their existing APIs.

CleanSpark Signs Multiple Software Service Contracts Within EV Sector

Prior to their acquisition by CleanSpark in August 2020 , all of GridFabric's OpenADR solutions had been sold under a perpetual licensing agreement, which represented a one-time sale. One of the stated goals at the time of acquisition for CleanSpark was to transition to a new cloud-based subscription option for the software which will generate long term, recurring revenue.

The benefits of transitioning to a SaaS model include improvements to the platform and implementing services, ease of maintenance, and enhanced cyber-security measures. Additionally, new features are being added that were previously only enabled with on-site updates or re-installation.

Zach Bradford , CEO of CleanSpark said of the contract, "GridFabric specializes in providing communication protocols to cleantech energy and EV companies, enabling them to participate in wholesale markets and communicate directly with utilities. Large, up-front fees for the protocols and communications certification process can be prohibitive for some companies. Under a subscription or SaaS model the customer is able to make ongoing monthly payments rather than a large lump sum. We expect this structure to attract more customers thereby creating an even stronger reoccurring revenue base.  Reducing the cost of entry into OpenADR certification should also accelerate market growth as a whole and increase pull-through demand for CleanSpark's full suite of products industry-wide."

Mr. Bradford continued, "We intend to further enhance the SaaS offerings by developing a platform that will host the existing 'Plaid' and 'Canvas' products along with future product releases, such as protocols for IEEE 2030.5 within a single ecosystem.  These improvements will enhance a user's ability to more rapidly integrate new protocols without needing to shift platforms. The monthly fees will also enable GridFabric and CleanSpark to rely on long-term subscription-based revenues to support new feature developments and platform expansion as a whole. SaaS is about ease of use and functionality, and we are excited to be able to offer this as an option to a larger number of potential customers."

Parties interested in learning more about GridFabric products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.gridfabric.io

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About GridFabric:

GridFabric creates OpenADR software solutions that help power utilities and IoT products and Companies to shed, shift, shimmy and shape peak load. The Company provides advanced OpenADR software Solutions. Our software and services are uniquely capable of enabling Customers to rapidly gain the necessary certifications to communicate with utilities and other energy products.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-two-new-ev-contracts-for-gridfabric-software-subscriptions-301161763.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 21, 2020 9:25 AM

CleanSpark Reports Annual Revenues of $10M

CleanSpark Reports Annual Revenues of $10M

PR Newswire

SALT LAKE CITY , Oct. 21, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (the "Company") a diversified software and services company, today reported preliminary unaudited revenue for its fiscal year ended September 30, 2020 in excess of $10.0 million .  This achievement represents a 222% increase in gross revenues over the company's 2019 fiscal year-end results.  These figures represent a fourth consecutive year of record-breaking annualized revenues.

In addition, the Company reaffirms its target of $20M in gross revenue for its 2021 fiscal year.  The Company will be investing in growth with a focus on higher margin software and service sales. CleanSpark currently has an executed contracted backlog exceeding $6.0 million and a proposal pipeline exceeding $12.0 million .

"Achieving our target revenue of $10.0 million for 2020 in the face of navigating a global pandemic represents a significant accomplishment for our team.  We believe that this further demonstrates our continued progress in establishing CleanSpark as a leader in advanced software and controls for energy management systems, validated by the multinational partnership agreements we've executed, stated Zachary Bradford , the company's Chief Executive Officer. "We are still in the early stages of what we believe is a multi-year trend towards expanding microgrid applications worldwide.  Securing $40.0 million in institutional capital earlier this month strengthens our ability to capitalize on this trend as we continue to expand CleanSpark's operations, offerings and critical personnel," concluded Bradford.

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. These forward-looking statements include statements regarding the Company's unaudited preliminary financial and operational results for the full year 2020 and expected growth in 2021.  The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation, changes resulting from the Company's finalization of its financial statements for and as of the period and year ended September 30, 2020 , information or new changes in facts or circumstances that may occur prior to the filing of the Company's Annual Report on Form 10-K that are required to be included therein, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-reports-annual-revenues-of-10m-301156955.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 15, 2020 9:25 AM

CleanSpark Announces New Microgrid Hardware Order

CleanSpark Announces New Microgrid Hardware Order

PR Newswire

SALT LAKE CITY , Oct. 15, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it has been awarded a $370,000 order for its intelligent automatic transfer switch (ATS) switchgear. The Company's intelligent switchgear is used to automatically transfer power supply from a primary source to a backup source when it senses a failure or outage, thus assuring uninterrupted power.  These intelligent units also allow the system owner the opportunity to participate in regional energy markets when it makes financial sense to sell surplus power back to the grid. This order represents a follow-on order for a Houston, TX based energy developer specializing in natural gas turbine powered microgrids.  The final deployments of these units are expected to be on multiple Texas locations of the nation's largest retail chain.

"This intelligent switchgear order further validates CleanSpark's unique energy solutions and strengthens our strong revenue outlook to begin our new fiscal year.  Increasing frequency of power outages due to grid instability, natural disasters and wildfires is expected to result in significant continued interest for both our hardware and software solutions," stated Zachary Bradford , CleanSpark's Chief Executive Officer.

Parties interested in learning more about CleanSpark's products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its hardware, software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-new-microgrid-hardware-order-301153119.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 13, 2020 9:25 AM

CleanSpark Subsidiary p2klabs Executes $1M Contract

CLSK-wins-contract

CleanSpark Subsidiary p2klabs Executes $1M Contract

PR Newswire

SALT LAKE CITY , Oct. 13, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced that its wholly-owned subsidiary p2klabs (p2k) has received an extension of its professional services contract from LAWCLERK.LEGAL (LAWCLERK) valued in excess of $1 million . p2k is a digital design, marketing, and software development agency in addition to internally supporting CleanSpark's software sales, marketing and user experience team.

CleanSpark Wins Million-Dollar Contract

The client, LAWCLERK, is a B2B legal services marketplace where attorneys can hire freelance lawyers and other professional services. p2klabs has been instrumental in all aspects from concept to execution and development of LAWCLERK's platform, including mobile experience. As LAWCLERK plans to become a leading provider of B2B online legal services in the next year, the 16-month extension with p2k focuses on the execution of innovative design and development initiatives. These enhancements are expected to further strengthen LAWCLERK's standing in the legal marketplace. In addition, the p2klabs team will continue to provide business strategy, project management, and technical support services.

On the recent developments, CleanSpark's CRO and p2klabs founder Amer Tadayon stated, "This contract renewal shows that not only can we attract new business, but we have also proven our value as a trusted partner with our clients. Continuing to work with LAWCLERK and adding a developer like ILAL shows our capability to grow existing business and attract major clients in our target verticals which include energy, hotel/gaming, legal, and healthcare. We have been extremely fortunate to retain existing clients and add new business even during this economic downturn.  The support and resources garnered as a result of our acquisition by CleanSpark have enabled p2klabs to increase our focus on execution and growth."

Greg Garman , Co-founder and CEO of LAWCLERK.LEGAL commented, "We've been extremely pleased with p2k's efforts thus far and are excited to continue our partnership which has contributed to exponential growth over a short period of time. Their diverse service offerings which complement our team will expand the capabilities of our legal platform to make a fundamental and lasting change to the practice of law."

Parties interested in learning more about p2klabs products and services are encouraged to inquire by contacting the Company directly at hello@p2klabs.com or visiting the Company's website at www.p2klabs.com

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About p2klabs:
p2klabs, a CleanSpark company, is a marketing, design, and development agency based in Las Vegas, NV. Our services consist of innovation consulting and business process methodologies. We orchestrate national digital marketing, and demand generation campaigns for leading companies and product lines. From product launch to growth marketing, and sales process refinement, our team has top-level design and marketing resources to take concepts to successful strategies.

About LAWCLERK.LEGAL:
LAWCLERK's mission is to improve the lives of lawyers and the legal industry. With LAWCLERK's help, lawyers can be better at what they do, get more done - faster, produce better legal work - cheaper, and make more money, all while lowering the cost of legal services to their clients. For more information go to: https://www.lawclerk.legal/

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-subsidiary-p2klabs-executes-1m-contract-301151123.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 9, 2020 2:22 PM

CleanSpark Announces Closing of $40.0 Million Underwritten Public Offering

CLEANSPARK-closing

CleanSpark Announces Closing of $40.0 Million Underwritten Public Offering

PR Newswire

SALT LAKE CITY , Oct. 9, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced the closing of its previously announced underwritten public offering of 4,444,445 shares of common stock at a public offering price of $9.00 per share for aggregate gross proceeds of approximately $40.0 million .

CleanSpark Announces $40M Underwritten Public Offering

H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

CleanSpark intends to use the net proceeds from the offering for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, and general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the securities was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering is being made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website located at https://www.sec.gov and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

Procopio, Cory, Hargreaves & Savitch LLP served as legal counsel to CleanSpark and Ellenoff Grossman & Schole LLP served as legal counsel to H.C. Wainwright & Co. in connection with the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: higher than expected offering expenses, market and other conditions, the Company's intended use of proceeds, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-closing-of-40-0-million-underwritten-public-offering-301149613.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 6, 2020 10:04 PM

CleanSpark Announces Pricing of $40.0 Million Underwritten Public Offering

CLEANSPARK-Offering

CleanSpark Announces Pricing of $40.0 Million Underwritten Public Offering

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, tonight announced the pricing of its previously announced underwritten public offering of 4,444,445 shares of common stock at a public offering price of $9.00 per share.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The gross proceeds are expected to be approximately $40.0 million , before deducting underwriting discounts and commissions and other offering expenses payable by the Company.  The offering is expected to close on or about October 9, 2020 , subject to satisfaction of customary closing conditions.

CleanSpark intends to use the net proceeds from the offering for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, and general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the securities being offered was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering is being made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus related to the offering were filed with the SEC and a final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus will be available on the SEC's website located at https://www.sec.gov and may also be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: market conditions, our ability to satisfy the conditions to closing of the offering and other matters affecting our ability to consummate the offering; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-pricing-of-40-0-million-underwritten-public-offering-301147254.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 6, 2020 5:12 PM

CleanSpark Announces Proposed Underwritten Public Offering of Common Stock

CLEANSPARK-Offering

CleanSpark Announces Proposed Underwritten Public Offering of Common Stock

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it intends to offer and sell shares of its common stock in an underwritten registered public offering.  The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

H.C. Wainwright & Co. is acting as the sole book-running manager for the proposed offering.

CleanSpark intends to use the net proceeds from the offering, if completed, for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the shares being offered was filed with the U.S. Securities and Exchange Commission on September 23, 2020 , and was declared effective on October 2 , 2020.  The offering will be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at https://www.sec.gov . Alternatively, electronic copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (646) 975-6996.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements :

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release as a result of various important factors, including, without limitation: market conditions that may affect the timing, terms and conditions of the offering, our ability to satisfy the conditions to closing of the offering and other matters affecting our ability to consummate the offering on terms acceptable to us; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-announces-proposed-underwritten-public-offering-of-common-stock-301147135.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 6, 2020 9:00 AM

CleanSpark Enters EV Charging Market Through GridFabric Platform

CLEANSPARK-ev-charger

CleanSpark Enters EV Charging Market Through GridFabric Platform

PR Newswire

SALT LAKE CITY , Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it is entering the Electric Vehicle (EV) charging station space through its recently acquired, wholly-owned subsidiary GridFabric, LLC. GridFabric is an OpenADR (Automatic Demand Response) communications compliance and certification company. The new initiative will be focused on providing software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.

CleanSpark Enters EV Charging Market

On September 23, 2020 , California Governor Gavin Newsom announced a phase out of gasoline-powered cars by 2035 as part of the State's fight against climate change. As part of the initiative the Office of the Governor stated, "To ensure needed infrastructure to support zero-emission vehicles, the order requires state agencies, in partnership with the private sector, to accelerate deployment of affordable fueling and charging options. It also requires support of new and used zero-emission vehicle markets to provide broad accessibility to zero-emission vehicles for all Californians."

EV fast-charging will create an additional burden on the existing, aging power grid.  Public utilities will likely need to upgrade their existing infrastructure to handle the additional load, as well as rely more on demand management programs and load-balancing to increase overall grid stability. EV charging locations that plan to participate in these programs will be required, in certain jurisdictions, to utilize certified communications protocols.

The OpenADR protocol allows EV charging companies and their customers to communicate with the utilities for demand response programs.  These programs, in turn, allow the utility to more easily manage power distribution to the grid.

GridFabric offers a method of rapidly implementing OpenADR and providing the corresponding certification. GridFabric has provided its OpenADR software to two EV charging companies since its acquisition by CleanSpark in August 2020 and has additional proposals pending with a number of EV charging companies.

Parties interested in learning more about GridFabric products and services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.gridfabric.io

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful integration of GridFabric into CleanSpark, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-enters-ev-charging-market-through-gridfabric-platform-301146592.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Oct 1, 2020 9:25 AM

CleanSpark Highlights Advantages of Federal Energy Regulation Commission Ruling

CLEANSPARK-FERC

CleanSpark Highlights Advantages of Federal Energy Regulation Commission Ruling

PR Newswire

SALT LAKE CITY , Oct. 1, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced its support for FERC Order Number 2222 that should help aggregated distributed energy resources (DERs) compete alongside and work with traditional power utilities. In its published opinion thoroughly investigating the ruling, the National Law Review concluded "FERC's new rules could prove to be a disruptive and transformative change to electric utilities and the electric industry broadly."

Reacting to the late September ruling, Zach Bradford , CEO of CleanSpark said, "This is a significant win for clean energy and alternative energy production. This ruling should transform the microgrid industry by promoting competition in electric markets by removing the existing barriers that have favored utilities for decades.  Historical policy restrictions have prevented DER (Distributed Energy Resources) and microgrid participants like CleanSpark from competing in energy and ancillary services markets currently monopolized by regional grid operators."

"This ruling should enable DERs, including alternative power generators, solar developers, and battery manufacturers to participate alongside traditional resources to provide new sources of energy and grid services. It should help provide a variety of benefits including lower costs for energy consumers, more grid flexibility and resilience, and more innovation within the electric power industry."

Mr. Bradford concluded, "Specifically, several sources of distributed electricity should now be allowed to aggregate in order to satisfy minimum size and performance requirements that each may not be able to meet individually.  Regional grid operators will be required to revise their tariffs to establish DERs as a category of market participant.  Prior to this ruling, DERs could contribute to Independent System Operator ("ISO") and Regional Transmission Organization ("RTO") markets via demand response mechanisms, but this opens the door to substantially more value for DERs. The specific tariff updates from each RTO/ISO will be released in the near future, and we expect them to reach full effect over the coming years.  Over the past several projects, CleanSpark has demonstrated its unique ability to provide a fully-integrated software suite that we feel will absolutely disrupt an antiquated and over-burdened industry."

Matthew Schultz , CleanSpark's Chairman commented "This is a massive policy shift in favor of the microgrid market in particular. It should open up additional value streams for microgrid developers and owners to fully participate in wholesale markets. These opportunities are expected to dramatically improve microgrid economics and stimulate future deployments. Microgrid developers of all sizes should now be able to leverage CleanSpark's robust portfolio of patented technologies to tap into these opportunities and offer significant value for their customers. The recent acquisition of GridFabric provides additional 'first-mover' benefits to CleanSpark's core product line by adding a certified communications protocol.  The opportunity to offer these certifications 'out of the box' delivers a significant head start in grid optimization technology for our customers and partners, which is even more valuable with this FERC ruling."

Ben DuPont , co-founder of GridFabric, and CleanSpark's newly appointed VP of Software Engineering who has worked in OpenADR for over 8 years and was an early implementer of the protocol stated, "FERC 2222 should allow for significantly more opportunities for new market participants. With its footprint in ISO and RTO market and position in the controls market, CleanSpark is well suited to capitalize on this development."

Matt Hale , co-founder of GridFabric and newly appointed VP of Product Management for GridFabric said, "FERC 2222 should lead to a significant increase in DER activity from all types of companies, including DER aggregators, microgrid controls like CleanSpark, thermostats, water heaters, rooftop solar panels, storage, EV chargers and more. Open protocols such as OpenADR and IEEE 2030.5 should be table stakes to participate in these markets, and our products let these companies implement them faster and more cost effectively, allowing them to focus on what they do best."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: changes in regulatory conditions, the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-highlights-advantages-of-federal-energy-regulation-commission-ruling-301143988.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 23, 2020 9:25 AM

CleanSpark Awarded US Embassy Contract

CLEANSPARK-US-embassy

CleanSpark Awarded US Embassy Contract

PR Newswire

SALT LAKE CITY , Sept. 23, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("the Company") a diversified software and services company announced that it received a contract to provide intelligent switchgear upgrades and support for a US Embassy located on the African continent.

According to the agreement, CleanSpark will service the paralleling switchgear controls at the Embassy for a term of 5 years including upgrades to the equipment.  Additionally, the Company will provide technical and online support to Embassy personnel. Trained on systems utilizing a variety of operating modes, CleanSpark field service technicians and engineers are capable of servicing or upgrading switchgear installed by CleanSpark's Critical Power Division, as well as all other paralleling switchgear brands. Maintenance and upgrades will be performed by the CleanSpark team, which is proficient in design and start-up, troubleshooting, training, and providing maintenance on switchgear, paralleling controls, and power distribution equipment.

CleanSpark's CEO Zach Bradford said, "This is another exciting development for our intelligent switchgear business. Our team has continued to experience strong sales of our hardware-based solutions, and recently we've seen an increase in the maintenance, upgrades, and technical support segments as well. We are excited to have prevailed on this competitive government contract. Aside from the overall economic value, our proposal leverages our prior expertise on secure government projects, as well as the knowledge base and aptitude of the professionals within our staff."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-awarded-us-embassy-contract-301136566.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 21, 2020 9:35 AM

CleanSpark Commissions Software on New Microgrid Featuring Tesla Batteries

CleanSpark-microgrid

CleanSpark Commissions Software on New Microgrid Featuring Tesla Batteries

PR Newswire

SALT LAKE CITY , Sept. 21, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), "the Company", a diversified software and services company announced the commissioning of its software on a new solar plus storage microgrid project in Central America . CleanSpark is partnered with an energy developer to deploy this unique solution for Micro Technologies SA, a major international assembly and manufacturing company. This microgrid is for their new factory located in the San Jose , Alajuela Province of Costa Rica .

The local clean-energy developer focuses on distributed power generation, storage, and management. They have installed some of the first microgrids in Latin America . This collaborative project between the two companies will incorporate grid-tied solar and energy storage systems primarily to offset utility energy costs. The secondary function of the system is to provide backup power during utility outages from construction through commissioning of the complex, as well as when facility is fully operational.

CleanSpark is providing its patented mPulse controls with market-based forecasting and operation. The Company has also procured and will incorporate the Tesla (Nasdaq:TSLA) PowerPack 2 battery energy storage system which will provide 558kW/1115kWh storage. Additionally, the project's solar installation includes 480kW AC, 531kW DC of PV (photovoltaic) solar panels. This represents the second microgrid located in Costa Rica with an mPulse controller paired with a Tesla energy storage solution.

MicroTech is a components and systems manufacturer for Fortune 500 companies which represent a multitude of industries including robotics, automotive, aerospace, and telecommunications. CleanSpark's mPulse controller will provide MicroTech with a means of reducing utility operating costs. This is accomplished by storing and/or shifting solar production through operation of the Tesla Powerpack ensuring consistent operation and resiliency. In the event of a power disruption from the grid, the energy storage system will be utilized to provide backup electricity to the manufacturing facility. This will help significantly reduce the financial impact associated with power outages during the manufacturing process of these sensitive products and equipment. The utilization of the AC-coupled solar array, also operated and managed by CleanSpark's mPulse software, will further extend the resiliency of the system.

Zach Bradford , CEO of CleanSpark commented, "We are extremely pleased to have partnered with local energy professionals on another microgrid project in Costa Rica . In addition to assisting the developer to provide resilient power and cost savings for MicroTech on a remote location, this system provides renewable clean-energy, an objective stated by the country of Costa Rica , in their pursuit of being powered by 100% renewables This edict is enthusiastically supported by CleanSpark and our local partners. We look forward to continuing to utilize our technologies to provide energy certainty, clean power, and cost avoidance throughout the region."

Parties interested in learning more about CleanSpark Microgrid services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com .

Investors are encouraged to contact the Company at ir@cleanspark.com , or visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/cleanspark-commissions-software-on-new-microgrid-featuring-tesla-batteries-301134498.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 10, 2020 9:35 AM

CleanSpark Announces Multi-Unit Switchgear Contract and Expansion into New Markets

SALT LAKE CITY, Sept. 10, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it has received a contract for multiple units of its intelligent switchgear equipment from a long-term energy development partner based in Houston, TX.

The two companies have now collaborated on over 100 unique microgrid projects for which CleanSpark has provided its custom intelligent switchgear. CleanSpark's ATS solutions have previously been installed by the same partner to provide resilient microgrids for a large grocery store chain and for the world's largest retailer. CleanSpark expects additional units to be ordered in the coming months in continued support of these end-use clients.

The most recent orders are for five Switchgear units, three of which will be installed on a surface water pumping station in the Houston area. The two additional units were ordered for a Texas-based grocery chain that has CleanSpark Switchgear currently deployed on several of their locations. The microgrids that incorporate the intelligent ATS solutions not only monitor increasing demand intervals from the utility in order to optimize energy consumption, but also provide a reliable back-up energy solution. This 'baked-in' resiliency keeps the site operational even during extended utility outages caused by events such as hurricanes. The latest orders are expected to add additional revenue that CleanSpark will recognize during the coming quarter. CleanSpark has shipped in excess of $7.4 million in Switchgear during the current fiscal year.

"Providing our intelligent switchgear solutions for a microgrid on a critical water pumping facility represents an entirely new market segment for the company," stated CleanSpark's Chief Executive Officer, Zachary Bradford.  "The continuing, successful deployments of CleanSpark's unique hardware and software technologies in mission-critical environments have expanded the applications for our offerings. We are pleased that we can leverage our vast experience in military, commercial and industrial energy systems to support our customers as they expand into new business segments." He concluded.

Parties interested in learning more about CleanSpark's Switchgear are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at  www.cleanspark.com/switchgear.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at  https://ir.cleanspark.com/ 

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future revenue growth may not be realized, timing of orders and deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-multi-unit-switchgear-contract-and-expansion-into-new-markets-301127537.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 1, 2020 10:00 AM

CleanSpark Announces Microgrid Software Deployment in Costa Rica

SALT LAKE CITY, Sept. 1, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company today announced the successful deployment of the company's mPulse software on its latest microgrid project in Central America. 

Located on an industrial equipment retail facility in San Jose, Costa Rica, the project utilizes CleanSpark's patented mPulse controller to coordinate all aspects of the system and improve overall performance.  The microgrid will consist of a 222-kW PV solar system, and a Tesla 111-kW/223kWh Powerpack provided by CleanSpark.  The system is integrated with standby diesel generation for use in the event of a sustained power disruption.  This will be one of the first Tesla (Nasdaq: TSLA) battery systems deployed in Costa Rica. 

During system operations, the mPulse controller, utilizing operating parameters identified and modeled through our mVSO software, is expected to significantly reduce the use of grid power.   The Tesla battery energy storage system will be intelligently controlled by mPulse to shave peak demand and improve the overall project economics and ensure long-term cost avoidance.  Additionally, this project will reduce greenhouse gas emissions to assist the Costa Rican people to close the gap on their goal to become the world's first carbon neutral country. 

Many countries in Latin America share a central 1,100 mile long power grid, as a result, a disruption in Nicaragua, El Salvador, Panama or Costa Rica can affect the others within the region.  Costa Rica experienced a nationwide power outage in 2017 as a result of a downed power transmission line in Panama. The impacts of these disruptions can potentially cause millions of dollars in losses for commercial, industrial and agricultural customers.  One of the key value propositions of a CleanSpark microgrid is the ability to provide energy certainty during unplanned outages, as well as meaningful, long-term economic benefits.

"Over the last four years, Costa Rica has generated more than 95% of its domestic electricity from renewable energy.  In 2018, nearly 75% of all national renewables came from hydropower.  Recent drought conditions have threatened the consistency of that supply, and the country has been more reliant on wind production.  This CleanSpark powered system utilizes proprietary forecasting, driven, not only by the end-user's energy consumption behaviors and utility rates, but a multitude of other factors, including forecasted weather patterns," stated Matt Schultz, CleanSpark's Chairman. "Having an intelligent, fully-automated hybrid-cloud controller allows the end-user the security of knowing the vectors they have identified as priority are being met without any requirement for a 'man in the loop'," continued Schultz.

Zach Bradford, CEO of CleanSpark stated, "This represents the second project and first large scale deployment of our mPulse software and controls in Costa Rica.  As part of our plans to expand internationally we have identified significant opportunities in Latin America.  Costa Rica and Mexico are the first countries we are targeting with plans to expand to the Brazilian and Panama market in 2021.  The international markets present opportunities for CleanSpark as we are uniquely positioned to solve significant problems including improving power quality, increased power resiliency and cost savings amongst others."  Mr. Bradford continued, "This deployment in particular is also important in demonstrating how our software can help multiple stakeholders involved in an energy project achieve each of their differing goals by leveraging our technology.  In this case the end-user of the power is able to achieve cost reductions and targeted sustainability and resiliency goals. The developer is able to provide certainty performance while remaining cost competitive in a traditionally challenging energy market. We are optimistic on the future of the markets we are seeing both internationally and domestically and we expect to expand our presence in conjunction with our local partners as they embark on a new era of microgrid and energy development in Costa Rica."

Parties interested in learning more about CleanSpark's Microgrid platform are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the ability of our software to produce the expected energy benefits, expectations of future growth of CleanSpark  may not be realized, timing of deliveries, ongoing demand for our software products, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-microgrid-software-deployment-in-costa-rica-301121959.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Sep 1, 2020 9:30 AM

CleanSpark to Present at the LD500 Virtual Conference

SALT LAKE CITY, UT / ACCESSWIRE / September 1, 2020 / CleanSpark, Inc. (NASDAQ:CLSK), a diversified software and services company today announced that it will be presenting at the LD 500 investor conference on Thursday, September 3rd, 2020. CleanSpark's Chairman, Mr. Matthew Schultz will be presenting live to a virtual audience. Participants wishing to register may do so at https://ld500.ldmicro.com/.

The Corporate presentation will be on Thursday, September 3, 2020, at 3:40 p.m. ET, is available via live webcast and in archive for up to 90 days following the conclusion of the event at https://www.webcaster4.com/Webcast/Page/2019/36853

"We have been waiting for this moment all year long. Due to COVID, it has been nearly impossible for physical conferences to even take place. I want to show the world that you can still learn, have a great time, and see some of the most unique companies in the capital markets today. All without having to step foot outside. For the first time, LD Micro is accessible to everyone, and we are honored to welcome you to one of the most trusted platforms in the space." stated Chris Lahiji, Founder of LD.

The LD 500 will take place on September 1st through the 4th.

View CleanSpark's profile at: https://www.ldmicro.com/profile/CLSK

Profiles powered by LD Micro - News Compliments of Accesswire

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About LD Micro

Back in 2006, LD Micro began with the sole purpose of being an independent resource to the microcap world.

What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space.

The upcoming "500" in September is the Company's most ambitious project yet, and the first event that is accessible to everyone.

For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the ability to successfully integrate GridFabric into CleanSpark's business and operations, the expectations of future revenue growth may not be realized, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

SOURCE: CleanSpark Inc.



View source version on accesswire.com:
https://www.accesswire.com/604182/CleanSpark-to-Present-at-the-LD500-Virtual-Conference

News Provided by ACCESSWIRE via QuoteMedia

Aug 31, 2020 5:00 PM

LD Micro 360 Companies Set to Present this Week

LOS ANGELES, CA / ACCESSWIRE / August 31, 2020 / LD Micro today announced the final list of companies slated to present at the upcoming LD 500, taking place September 1st-4th, 2020, exclusively online.

Registration details and the company schedule can be seen here: https://ld500.ldmicro.com

"I have slept well since March," said Chris Lahiji, Founder of LD Micro.

The list of presenters in below:

1847 Goedeker

GOED

1847 Holdings LLC

EFSH

22nd Century Group, Inc.

XXII

AcelRx Pharmaceuticals, Inc.

ACRX

Acer Therapeutics

ACER

Acme United Corp

ACU

Actinium Pharmaceuticals, Inc.

ATNM

AcuityAds

AT.TO

ADDvantage Technologies Group, Inc.

AEY

Adial Pharmaceuticals Inc.

ADIL

Aditxt Therapeutics

ADTX

Advaxis

ADXS

Aehr Test Systems

AEHR

AIkido Pharma Inc.

AIKI

AIM ImmunoTech Inc.

AIM

Air Industries Group

AIRI

Akerna

KERN

Alfi Inc.

PRIVATE

Algernon Pharmaceuticals

AGNPF

Alimera Sciences

ALIM

ALJ Regional Holdings

ALJJ

Allot

ALLT

Alpine 4 Technologies

ALPP

Altigen Communications

ATGN

American Resources Inc.

AREC

American Shared Hospital Services

AMS

AnalytixInsight Inc.

ALY

Annovis Bio

ANVS

Antibe Therapeutics

ATE.V

Apollo Endosurgery, Inc.

APEN

Applied Energetics, Inc.

AERG

Aptorum Group Limited

APM

Aqua Metals

AQMS

AquaBounty Technologies

AQB

Arch Therapeutics

ARTH

Arcimoto

FUV

Arcturus Therapeutics

ARCT

Artelo Biosciences, Inc.

ARTL

Assure Holdings

ARHH

Asure Software

ASUR

Atomera Incorporated

ATOM

Atossa Therapeutics, Inc.

ATOS

AutoWeb, Inc.

AUTO

Avivagen

VIVXF

Axos Financial

AX

AYRO Inc

AYRO

AzurRx BioPharma, Inc.

AZRX

Ballantyne Strong Inc

BTN

Barfresh Food Group

BRFH

Bel Fuse, Inc.

BELFA

BELLUS Health

BLU

BIO-key International

BKYI

BioCardia, Inc.

BCDA

Biocept, Inc.

BIOC

Bioceres Crop Solution

BIOX

BioHiTech Global

BHTG

BioLargo, Inc.

BLGO

Biolase, Inc.

BIOL

Biomerica

BMRA

BioSig Technologies

BSGM

BioSyent Inc.

RX.V

BK Technologies

BKTI

BlackBoxStocks, Inc.

BLBX

Blink Charging

BLNK

BlueCity

BLCT

Blueknight

BKEP

Boxlight Corporation

BOXL

Bridgeline

BLIN

Bright Mountain Media

BMTM

C-Bond Systems

CBNT

Caladrius Biosciences

CLBS

Calmare Therapeutics

CTTC

Calyxt, Inc.

CLXT

Camtek Ltd.

CAMT

Can B Corp.

CANB

Can-Fite BioPharma, Ltd.

CANF

Capricor Therapeutics

CAPR

Capstone Turbine

CPST

CEL-SCI Corporation

CVM

Celsius Holdings, Inc.

CELH

CEMATRIX Corporation

CVX.V

Cemtrex, Inc.

CETX

Chicken Soup for the Soul Entertainment

CSSE

ChromaDex

CDXC

Citius Pharmaceuticals, Inc.

CTXR

Cleanspark

CLSK

ClearOne Communications Inc.

CLRO

CloudMD Software

DOCRF

CLPS Incorporation

CLPS

Compass Diversified Holdings

CODI

Converge Technology Solutions

CTS

Conversion Labs

CVLB

Crown EK

CRKN

CTG

CTG

Cure Pharmaceutical

CURR

CynergisTek, Inc.

CTEK

Cytosorbents Corporation

CTSO

Data443 Risk Mitigation

ATDS

Delcath Systems Inc.

DCTH

Diginex

JFK

Digirad Corporation

DRAD

Digital Ally

DGLY

Dolphin Entertainment Inc.

DLPN

DPW Holdings, Inc.

DPW

Driven Deliveries, Inc.

DRVD

Dyadic International, Inc.

DYAI

Edesa Biotech, Inc.

EDSA

ElectraMeccanica Vehicles Corp.

SOLO

electroCore

ECOR

eMagin

EMAN

ENDRA Life Sciences Inc.

NDRA

Energous

WATT

Energy Focus, Inc.

EFOI

Energy Fuels

UUUU

Enthusiast Gaming

EGLX

EnviroLeach Technologies Inc.

EVLLF

Envision Solar

EVSI

Esports Entertainment Group

GMBL

Evogene

EVGN

Excellon Resources

EXLLF

Exro Technologies Inc

XRO

FAT Brands Inc.

FAT

FinCanna Capital

CALI.CN

Flux Power Holdings

FLUX

Foresight Autonomous Holdings Ltd.

FRSX

Fortress Biotech

FBIO

Freedom Holding Corp.

FRHC

Futuris

MISM

Genasys Inc.

GNSS

Genprex, Inc.

GNPX

Gigatronics

GIGA

Global Crossing Airlines

JETMF

Global Self Storage

SELF

Goldmoney Inc.

XAUMF

GOLO Mobile Inc.

GOLO

Greenbox POS

GRBX

Greenbrook TMS NeuroHealth Centers

GTMS

Grom Social Enterprises

GRMM

GSI Technology

GSIT

HealthWarehouse.com, Inc.

HEWA

Helius Medical Technologies

HSDT

Heritage Global, Inc.

HGBL

Heritage Insurance Holdings, Inc.

HRTG

Hill Street Beverage Company Ltd.

BEER.V

Hoth Therapeutics, Inc

HOTH

Humanigen, Inc.

HGEN

iCAD

ICAD

iConsumer Corp

RWRDP

Ideal Power

IPWR

Ideanomics

IDEX

IDEAYA Biosciences

IDYA

IDW Media

IDWM

IEC Electronics

IEC

IMAC Holdings

IMAC

ImmunoPrecise Antibodies

IPATF

Immunovia AB

IMMNOV

IMV Inc.

IMV

Indonesia Energy Corporation

INDO

InfuSystems

INFU

Innovative Food Holdings

IVFH

Inpixon

INPX

InspireMD

NSPR

Intellicheck, Inc.

IDN

Interlink Electronics

LINK

inTEST Corporation

INTT

Inuvo, Inc.

INUV

Issuer Direct Corporation

ISDR

JanOne Inc.

JAN

Jerash Holdings

JRSH

Kandi Technologies

KNDI

Killi Ltd.

MYID

Kindred Biosciences

KIN

Kintara Therapeutics, Inc.

KTRA

Know Labs, Inc.

KNWN

Kontrol Energy Corp.

KNRLF

KULR Technology Group

KULR

Lantern Pharma

LTRN

Leatt Corporation

LEAT

Lexaria Bioscience

LXRP

LifeQuest World Corporation

LQWC

LifeVantage

LFVN

LightPath Technologies

LPTH

Lightwave Logic

LWLG

Limbach Holdings, Inc.

LMB

Lineage Cell Therapeutics, Inc.

LCTX

LiveXLive Media, Inc.

LIVX

Lomiko Metals Inc.

LMRMF

Mace Security International, Inc.

MACE

Magal Security Systems Ltd.

MAGS

Mako Mining

MAKOF

Mama Mancini's

MMMB

Manitex International Inc

MNTX

Marrone Bio Innovations

MBII

Matinas

MTNB

Medallion Financial Corp.

MFIN

Medexus Pharmaceuticals Inc.

MDP.V

Mene

MENE

Meritage Hospitality Group

MHGU

Microbix Biosystems Inc.

MBX.TO

Microbot Medical

MBOT

Milestone Scientific

MLSS

Mohawk Group

MWK

Moleculin Biotech

MBRX

Monaker Group

MKGI

MTBC, Inc.

MTBC

My Size Inc.

MYSZ

Myomo

MYO

NameSilo Technologies

URL.CN

Nanalysis Corp.

NSCI

Nano Dimension

NNDM

Nanotech Security Corp.

NTS.V

NanoViricides, Inc.

NNVC

Navidea Biopharmaceuticals

NAVB

nDivision Inc.

NDVN

Nemaura Medical

NMRD

NeoGenomics

NEO

Nephros, Inc.

NEPH

NervGen Pharma Corp.

NGENF

Neubase Therapeutics, Inc.

NBSE

Newtek Business Services

NEWT

Newtopia

NEWU

Nightfood Holdings

NGTF

Nova Leap Health Corp.

NLH.V

NowRx

PRIVATE

NXT Energy Solutions

NSFDF

Oblong Inc.

OBLG

Ocugen, Inc.

OCGN

Odyssey Group International

ODYY

Odyssey Marine Exploration

OMEX

OMNIQ Corporation

OMQS

OncoCyte Corporation

OCX

Oncolytics Biotech, Inc.

ONCY

OncoSec Medical Incorporated

ONCS

One Stop Systems

OSS

OneSoft Solutions Inc.

OSS.V

OpGen

OPGN

OpSens Inc.

OPS

Optex Systems Holdings

OPXS

OptimizeRx

OPRX

Origin Agritech Limited

SEED

Orion Energy Systems

OESX

PAVmed Inc.

PAVM

Pelican Delivers

PRIVATE

Performant

PFMT

PFSweb, Inc.

PFSW

Piedmont Lithium

PLL

Plus Therapeutics, Inc.

PSTV

POET Technologies Inc

PTK.V

Predictive Oncology Inc.

POAI

Profire Energy

PFIE

Protech Home Medical Corp.

PTQQF

Quantum Computing Inc.

QUBT

Quisitive Technology Solutions

QUIS

Qumu Corporation

QUMU

Ra Medical Systems

RMED

RADA Electronic Industries Ltd

RADA

Radcom Ltd.

RDCM

RadNet, Inc.

RDNT

Rafael Holdings

RFL

Rainmaker

ANY

RCI Hospitality Holdings, Inc.

RICK

RedHill Biopharma

RDHL

Redishred Capital Corp.

KUT

Rekor Systems, Inc

REKR

Remark Holdings

MARK

Renesola Power

SOL

Research Solutions

RSSS

Resonant Inc.

RESN

RIWI Corp.

RIWI.V

RumbleOn

RMBL

Safeguard Scientifics, Inc

SFE

Salarius Pharmaceuticals

SLRX

Sangoma Technologies

STC.V

SANUWAVE

SNWV

ShiftPixy

PIXY

Sigma Labs, Inc.

SGLB

Simulations Plus

SLP

Slinger Bag

SLBG

Smith-Midland Corporation

SMID

Soligenix, Inc.

SNGX

Sono-Tek

SOTK

Sorrento Therapeutics

SRNE

SRAX, Inc.

SRAX

Stereotaxis

STXS

Streamline Medical Group

PRIVATE

Summit Wireless Technologies

WISA

Sunworks Inc.

SUNW

Super League Gaming, Inc.

SLGG

Taronis Fuels

TRNF

The Joint Chiropractic

JYNT

The Singing Machine Company

SMDM

Theralink Technologies

OBMP

ThermoGenesis Holdings, Inc.

THMO

Thunderbird Entertainment

TBRD.V

Timber Pharmaceuticals

TMBR

Tinybeans

TNYYF

Titan Medical

TMD

Tiziana Life Sciences PLC

TLSA

Todos Medical LTD

TOMDF

Tonix Pharmaceuticals

TNXP

Torchlight Energy Resources, Inc.

TRCH

Transphorm

TGAN

Trxade Group

MEDS

Turtle Beach Corporation

HEAR

UGE International Ltd.

UGE.V

Ur-Energy Inc.

URG

US Gold Corp

USAU

US Nuclear Corporation

UCLE

Verb Technology

VERB

VerifyMe

VRME

Vertex Energy

VTNR

Victory Square Technologies

VST

Village Farms International

VFF

VIQ Solutions

VQS

VirTra, Inc.

VTSI

Vision Marine Technologies, Inc.

VMAR

VistaGen Therapeutics

VTGN

Vivos Inc.

RDGL

Volition RX Ltd

VNRX

Vox Royalty

VOX.V

Voyager Digital (Canada) Ltd

VYGVF

Vuzix Corporation

VUZI

WANdisco, Inc

WANSF

Wayside Technology Group Inc

WSTG

WeedMD

WDDMF

WELL Health Technologies

WELL.TO

Weyland Tech

WEYL

WidePoint Corporation

WYY

Willow Biosciences

CANSF

Wireless Telecom Group

WTT

Workhorse Group

WKHS

Wrap Technologies

WRTC

Xinyuan Real Estate

XIN

Xpel Inc

XPEL

Xtra-Gold Resources Corp.

XTG

Yatra Online, Inc.

YTRA

Yield10 Bioscience, Inc.

YTEN

ZAGG Inc

ZAGG

Zedge, Inc.

ZDGE

Zoom Telephonics

ZMTP

Zynex, Inc.

ZYXI

About LD Micro:

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space.

What started out as a newsletter highlighting unique companies has transformed into several influential events annually (Invitational, Summit, and Main Event).

In 2015, LD Micro launched ldmicro.com as a portal to provide exclusive intraday information on the entire sector, including the first pure micro-cap index (LDMi) which covers stocks in North America with market capitalizations between $50 million to $300 million.

SOURCE: LD Micro



View source version on accesswire.com:
https://www.accesswire.com/604126/LD-Micro-360-Companies-Set-to-Present-this-Week

News Provided by ACCESSWIRE via QuoteMedia

Aug 31, 2020 9:40 AM

CleanSpark Completes Strategic Acquisition of GridFabric

SALT LAKE CITY, Aug. 31, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company has completed a strategic acquisition of GridFabric, LLC.  Further, CleanSpark is pleased to announce that the principals of GridFabric, Mr. Ben Dupont and Mr. Matt Hale will be joining the CleanSpark team. The Company's website can be found at www.gridfabric.io.

GridFabric creates software solutions that help power utilities and IoT (Internet of Things) products that manage energy loads. The GridFabric team created the original open source Open Automated Demand Response ("OpenADR"), standard released by the Electric Power Research Institute (EPRI). OpenADR 2.0b is now the basis for the standard to be developed by the International Electrotechnical Commission. GridFabric's core products are Canvas and Plaid.  Canvas is an OpenADR 2.0b Virtual Top Node ('VTN') built for testing and managing Virtual End Nodes ('VENs') that are piloting and running load shifting programs. Canvas is offered to customers in the Cloud as a SaaS solution or as a licensed software.

Plaid is a licensed software solution that allows any internet connected product that uses energy (i.e. Solar, Storage & Inverters, Demand Response, EV Charging, Lighting, Industrial controls, Building Management Systems, etc.)   to add load shifting capabilities by translating load shifting protocols into their existing APIs. Companies that implement Plaid get a Certified OpenADR 2.0b Virtual End Node (VEN) as though they built it from scratch. GridFabric has facilitated dozens of Plaid integrations with companies of all sizes, ranging from major utilities to companies offering custom IOT energy solutions, saving customers time and money. 

CleanSpark will utilize GridFabric's communications protocols as an integral part of our Demand Response offerings integrated into mPulse.  Within the coming months, the two companies will be launching a solution for the Standard for Smart Energy Profile Application known as IEEE 2030.5. This standard has been selected as the default protocol for the California microgrid industry. 

"We believe that the acquisition of GridFabric further positions CleanSpark to continue to outperform our competitors by more rapidly advancing our Demand Response programs integrated into our industry leading mPulse distributed energy controls platform," stated Zachary Bradford, CleanSpark's Chief Executive Officer. "Retaining GridFabric's software technology and expert staff is a logical extension of our business model.  This transaction will provide multiple opportunities to deliver additional value and add revenue streams through mPulse driven Demand Response programs to our existing customers. Understanding the widely accepted OpenADR standard, we quickly recognized the need for a provider. After an extensive evaluation process, we believe we secured the premier provider in this space, further enhancing CleanSpark's technological advantages. GridFabric also brings a significant 'built-in' client base that we believe will immediately provide cross-selling opportunities for CleanSpark's core product lines," concluded Bradford.

"This acquisition immediately adds to CleanSpark's revenue stream by layering-on an additional value-added SaaS product that may be implemented independently from, or in conjunction with our mPulse platform," said Lori Love, Chief Financial Officer of CleanSpark.  "We anticipate that the acquisition alone will add close to $1M in revenue over the span of the coming year, and significantly more in the following years as we provide resources to the GridFabric team to grow.  Perhaps more importantly, this acquisition brings existing, recurring revenue and positive cashflows immediately," said Love.

Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/ where recent presentations and case studies are available to view.

About CleanSpark:

CleanSpark offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About GridFabric:

GridFabric creates OpenADR software solutions that help power utilities and IoT products and Companies to shed, shift, shimmy and shape peak load. The Company provides advanced OpenADR software Solutions. Our software and services are uniquely capable of enabling Customers to rapidly gain the necessary certifications to communicate with utilities and other energy products.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the ability to successfully integrate GridFabric into CleanSpark's business and operations, the expectations of future revenue growth may not be realized, demand  for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-completes-strategic-acquisition-of-gridfabric-301120784.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 19, 2020 9:30 AM

CleanSpark, Inc. and International Land Alliance Announce Microgrid Development Agreement

SALT LAKE CITY, Aug. 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), ("the Company") a diversified software and services company and, International Land Alliance (OTCQB:ILAL), ("ILAL" or "International")  an international land investment and development firm based in San Diego, California, are pleased to announce project deployments to be executed as part their exclusive agreement. According to the latest agreement, CleanSpark will provide sustainable power solutions to ILAL's portfolio of properties.  Under this phase International has agreed that CleanSpark will provide microgrid power solutions to more than 400 unique residential resort properties. 

The phase is expected to be executed as follows; CleanSpark will provide microgrid solutions which will deliver power to 252 fully 'off-grid' cabins in the exclusive Valle Divino development in Ensenada, Baja, Mexico.  CleanSpark will also provide sustainable power solutions to 152 luxury villas within the Plaza Bajamar project in conjunction with local grid power. It is anticipated that these projects will be deployed over the next 36 months as the residences are constructed. 

In addition, CleanSpark will also provide microgrid power to all commercial facilities within both developments, including professional, retail and restaurant locations. The plans for these commercial locations are still under development and the companies will release additional information as construction timelines are released.

CleanSpark will continue to provide all energy project analysis, modeling, sizing, energy storage procurement and consulting for ILAL through each phase of development. Upon deployment, the microgrid installations will operate under a long-term software license agreement for CleanSpark's patented mPulse controls platform. 

The first energy systems deployed within the unique development will be located on two residential villas currently in the final stages of construction. Commissioning of these initial energy projects is expected to occur on or before September 30, 2020. 

"This phase is a significant milestone under our exclusive agreement with ILAL.  International has master-planned a beautiful project in Ensenada, Baja Mexico, located just 45 minutes south of San Diego, California. Our microgrid solution will provide Valle Divino with the otherwise unavailable energy infrastructure it needs in a cost-effective manner. This project will help ILAL achieve their stated goal of providing affordable environmentally friendly housing. These residential projects collectively represent significant revenue development for CleanSpark." stated Zachary Bradford, the Company's President and CEO.

Jason Sunstein, CFO of International Land Alliance said; "Developing luxury communities that are both affordable and sustainable is core to our business. With the lack of a predictable electric grid connection, these homes would potentially be years away from a reality, but with the CleanSpark partnership, our residents can begin to call Ensenada 'home' in the very near future. Not only will we realize a significant acceleration in our development schedule, but the resilient energy and cost-savings will provide even greater security and value to our homeowners. Sales and buyer interest has increased as border restrictions have been lifted increasing access to our secure, safe and desirable locations." 

Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.   

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at  https://ir.cleanspark.com/ where recent presentations and case studies are available to view.

About International Land Alliance, Inc.:

International Land Alliance, Inc. (OTCQB: ILAL) is an international land investment and development firm based in San Diego, California. ILAL is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The ILAL serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved.  Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, our reliance on International Land Alliance to complete its development of the two sites, the successful deployment of the projects with International Land Alliance and its integration with the residential and commercial facilities at the development sites, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-inc-and-international-land-alliance-announce-microgrid-development-agreement-301114700.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 7, 2020 9:30 AM

CleanSpark, Inc. and Sunshine Energy Announce Exclusive Costa Rica Partnership

SALT LAKE CITY, Aug. 7, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), "the Company" a diversified software and services company and Sunshine Energy Corp., (Sunshine) are pleased to announce the consummation of an exclusive partnership. The agreement allows Sunshine the exclusive right to market and sell CleanSpark's products and services throughout the country of Costa Rica. As part of the agreement, Sunshine will license mVSO (microgrid Value Stream Optimizer) energy modeling software for exclusive use in Costa Rica. Additionally, Sunshine agrees to procure all energy controls and energy storage systems directly through the Company. CleanSpark agrees to provide designated sales and consulting support to Sunshine, as well as favorable pricing for technical support services on all relevant projects.

Sunshine Energy is one of the largest energy developers in the Country and is a subsidiary of Losko Costa Rica. Sunshine's goal is to provide new energy innovation through technology, as a result they are actively pursuing new microgrid development throughout the region. Norfund, the Norwegian Fund for Developing Countries and Sunshine have a strategic alliance that will facilitate the financing of energy projects. Costa Rica has one of the cleanest electric matrixes in the world. In 2018, the country managed to produce 98.6% of its energy from renewable sources.

Eduardo Kopper, CEO of Sunshine Energy said about the partnership, "We are excited to have CleanSpark as a partner to support and enhance Sunshine's vision for delivering energy solutions to the people of Costa Rica by providing predictable resiliency through microgrids. After completing extensive due diligence on microgrid control providers, we found CleanSpark's solutions far superior to their competitors. The platform's flexibility allows us to pursue a best-in-class approach as technology changes or improves over time which will bring the greatest value to our customers."

Zach Bradford, CEO of CleanSpark added, "To have a company like Sunshine choose us as their exclusive microgrid partner is a significant win for CleanSpark and further validation of our superior platform capability. Because a large number of S&P 500 companies have operations in Costa Rica, we recognize the unique opportunity presented by this exclusive partnership. Our work with Sunshine thus far has shown them to be a leader in the solar and energy markets in Costa Rica. Strong partnerships are paramount to our continued success, especially as part of our international expansion strategy. Supporting Sunshine's existing $20 million (USD) microgrid sales pipeline will be a priority for our team."

Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/ where recent presentations and case studies are available to view.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Sunshine

Sunshine Energy is a subsidiary company of Losko Costa Rica, a company dedicated to hydroelectric generation since 1994. A collaborative force ready to lead the energy revolution in Costa Rica. Sunshine is committed to solar energy in Costa Rica whose mission is to promote energy innovation through new technologies, a positive environmental and economic transformation that impacts the social development of the region.

Sunshine seeks to transform the world around us with a commitment to clean energy and solar energy in Costa Rica and the region. For more information on Sunshine Energy visit, https://sunshine.tech 

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved.  Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, the successful deployment of the partnership with Sunshine, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-inc-and-sunshine-energy-announce-exclusive-costa-rica-partnership-301108269.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Aug 4, 2020 9:30 AM

CleanSpark Announces Quarterly Results and 283% Increase in Revenues in a Statement to Shareholders

CleanSpark Inc. Delivers Record Year-Over-Year Revenue Improvement for the nine months ended June 30, 2020

SALT LAKE CITY, Aug. 4, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, is pleased to update its shareholders and comment on the Company's financial results presented in its most recent Form 10-Q.  The Company recommends that readers also review the Company's 10-Q in its entirety, a free copy of which is available to all interested parties on the Company's website or on www.sec.gov.

Dear Fellow Shareholders,

As the planet begins to emerge from the catastrophic effects of the global pandemic, we consider ourselves blessed to have had the ability to continue the operations of our business largely unscathed. The massive disruption of our daily lives and the tragic health issues and loss of life around the world are clearly unprecedented.   According to recent reports, the US economy contracted a record 32.9% during the second quarter of 2020. In spite of all of this uncertainty, CleanSpark continues to execute on its strategy and is pleased to report our eighth consecutive record-breaking quarter, significantly increasing year over year revenues. We remain optimistic that the Company will continue to see record-setting growth across our software and services segments.  

Our sales in fiscal 2020 are again led by our custom electric switchgear hardware with more than $6.4 Million in products delivered during the nine months ending June 30, 2020.  We continue to see a sizable percentage of repeat customers in this segment and we anticipate this trend will continue. As a result of our strong growth we have increased our targeted revenue from $7.0 to $7.5 million in delivered custom switchgear sales prior to the end of our 2020 fiscal year.

The Company's increased focus on its mPulse software and controls platform, and mVSO, (microgrid Value Stream Optimizer) has continued to pay dividends with more than $1.0 million in related sales and nearly $1.0 million in additional contracted backlog coupled with a current proposal pipeline of approximately $10.0 million. During the nine months ended June 30, 2020, we delivered in excess of $1.0 million in software, energy storage and associated hardware. As a result of our strong growth we have increased our targeted revenue from $1.0 million to $1.3 million in delivered revenue related to this category prior to the end of our 2020 fiscal year.

The acquisition of p2klabs has enabled CleanSpark to accelerate the development and deployment of new features to its software platforms and expanded the overall sales and marketing capabilities. p2klabs generates high-margin service revenue and has contributed nearly $600,000 in revenues between February 1, 2020 and June 30, 2020.  Since closing the acquisition, we have increased our investment in marketing and staff for the p2klabs business and expect the quarterly revenue contribution to increase significantly over the coming quarters. We continue to target $2.0 million in p2klabs revenue prior to the first anniversary of the acquisition, January 31, 2021.

We are sincerely grateful for the continued support from our shareholders.  The most recent count exceeds 17,000 investors, including more than 10,000 shareholders on the Robinhood trading platform alone.  We believe this significant increase indicates that the incoming generation of investors understand the magnitude CleanSpark's disruptive approach brings to the rapidly evolving global energy markets.  We continue to put our efforts towards, increasing shareholder value, achieving profitability, and improving our margin profile through increased software and service revenues. 

Again, we appreciate your continued interest in, and passionate support of CleanSpark. 

Heartfelt thanks from your fellow shareholders,
Zach and Matt
Zachary Bradford, CEO and S. Matthew Schultz, Chairman

Three months ended June 30, 2020 US GAAP Financial and Operating Highlights:

All amounts below are presented in accordance with accounting principles generally accepted in the United States of America ("US GAAP") unless otherwise indicated.

  • Three-months ended June 30, 2020 Revenue of $3,438,674, up 181% from $1,222,736 in 2019.
  • Three-months ended June 30, 2020 Gross profit increased 152% to $544,735, up from $216,592 in 2019.
  • Three-months ended June 30, 2020 Net loss per share improved by $0.13 per share to $(0.77) from $(0.90) in 2019.

Nine months ended June 30, 2020 US GAAP Financial and Operating Highlights:

All amounts below are presented in accordance with accounting principles generally accepted in the United States of America ("US GAAP") unless otherwise indicated.

  • Nine-months ended June 30, 2020 Revenue of $8,073,781, up 283% from $2,109,542 in 2019.
  • Nine-months ended June 30, 2020 Gross profit increased 246% to $1,342,875, up from $388,054 in 2019.
  • Nine-months ended June 30, 2020 Net loss per share improved by $1.13 per share to $(2.32) from $(3.45) in 2019.

Certain Non-U.S. GAAP Financial measures:

The Company assesses its results of operations using certain non-U.S. GAAP financial measures, in addition to U.S. GAAP financial measures. The Company believes these non-U.S. GAAP financial measures provide useful information to investors and others in understanding and evaluating its operating performance in the same manner as management does.

The non-U.S. GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, any financial measures prepared in accordance with U.S. GAAP. The Company's non-U.S. GAAP financial measures may be defined differently from time to time and may be defined differently than similar terms used by other companies, and accordingly, care should be exercised in understanding how the Company defines its non-U.S. GAAP financial measures.

Reconciliation of non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)




 For the Three months Ended



June 30,
2020


June 30,
2019

Net loss (US GAAP)

$

(8,551,301)

$

(3,971,911)

Less: Depreciation, Amortization and other non-cash items:





Depreciation and amortization


703,367


618,130

Software amortization


41,877


344,871

Stock based compensation


172,931


432,971

Non-cash interest charges, amortization of debt discounts and other


7,066,496


1,495,213

Non-cash amortization of right of use assets


11,274


-

Unrealized gains on investments


(638,794)


-

Total Depreciation, Amortization and other non-cash items:


7,357,151


2,891,185






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(1,194,150)

$

(1,080,726)






 For the Nine months Ended



June 30,
2020


June 30,
2019

Net loss (US GAAP)

$

(16,282,653)

$

(14,020,002)

Less: Depreciation, Amortization and other non-cash items:





Depreciation and amortization


2,004,731


1,275,249

Software amortization


121,582


1,034,612

Stock based compensation


1,171,632


1,716,753

Non-cash interest charges, amortization of debt discounts and other


10,518,094


7,196,287

Non-cash amortization of right of use assets


33,000


-

Unrealized gains on investments


(1,622,553)


-

Loss on settlement of debts


-


19,425

Total Depreciation, Amortization and other non-cash items:


12,226,486


11,222,901






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(4,056,167)

$

(2,797,101)

Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at https://ir.cleanspark.com/ where recent presentations and case studies are available to view.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved.  Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, the successful integration of p2klabs, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-quarterly-results-and-283-increase-in-revenues-in-a-statement-to-shareholders-301105626.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 29, 2020 9:25 AM

CleanSpark, Inc. Announces Contract for Another Southern California Microgrid

SALT LAKE CITY, July 29, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced it has been awarded a contract to provide controls and storage for a commercial microgrid located in Southern California. CleanSpark expects to realize in excess of $300,000 in initial revenues from the project as well as a long-term software subscription. 

This microgrid project is designed to provide economic optimization and cost avoidance, as well as energy resiliency for the facility. CleanSpark's patented mPulse controls platform will manage a Battery Energy Storage System ("BESS") paired with photovoltaic rooftop solar panels.

Zach Bradford, CEO of CleanSpark said, "Our mPulse controller will optimally manage all of the distributed energy assets to ensure the customer will realize the strongest ROI while maintaining resiliency in the event of a grid disruption. This project requires a particularly short execution timeline due to the client's urgent needs. CleanSpark's flexible software architecture and ease of deployment enabled us to commit to the required timelines. The ability to meet this rapid deployment schedule is yet another example of how CleanSpark's disruptive approach to energy management is a significant competitive advantage."

Parties interested in learning more about CleanSpark's services are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at https://www.cleanspark.com.   

Investors are encouraged to contact the Company at ir@cleanspark.com, or visiting the Company's website at  https://ir.cleanspark.com/ where recent presentations and case studies are available to view.

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of a product for a particular application or market, the expectations of future growth and expected revenues may not be realized, timing of microgrid deliverables, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-inc-announces-contract-for-another-southern-california-microgrid-301102154.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 24, 2020 9:25 AM

CleanSpark, Inc. Announces Launch of Strategic Partnership Platform to Accelerate Growth and Release of Recent IBM Case Study

SALT LAKE CITY, July 24, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, announces the launch of its partnership program. Participating partners will have access to CleanSpark's mVSO energy project modeling software, proposal support, and co-marketing suite of services. Additionally, the Company is proud to share a recent IBM case study, available at https://ir.cleanspark.com/

CleanSpark's partnership program will provide a way for battery manufacturers, energy developers, EPC's (Engineering, Procurement, and Construction Companies) and solar installers to work directly with CleanSpark and offer its software and controls as part of ongoing project proposals or as a re-seller. The program launch will feature partners including Bay Area Energy Solutions, Inc. a Northern California company that provides microgrid services to estate homes and commercial businesses including wineries, a rapidly growing market segment for distributed energy resource management systems.

In addition, the program will provide partners admittance to the new online partner portal where they will have use of CleanSpark's mVSO proposal and design software at preferred pricing for the partner's internal use. The CleanSpark partner portal will also streamline access to training, marketing materials, documents, and communication tools to help increase sales and productivity between the companies. For premier or strategic partners, CleanSpark will also provide co-marketing matched funds for online, co-branding, or joint tradeshow opportunities.

Amer Tadayon CRO of CleanSpark commented, "Making an investment in growing our partnerships is an exciting step for CleanSpark. We recognize that our company has become an integral part of educating, presenting and winning energy proposal projects. Enabling our partners to offer a more complete solution, we believe, will ultimately result in substantially more installations."

Zach Bradford, CEO of CleanSpark said, "We are excited to announce the first formal partnership with Bay Area Energy Solutions and look forward to working with them to bring CleanSpark's unique solutions to their clients. Launching this platform represents a significant strategic milestone to increasing our reach and market share in the industry. We look forward to announcing additional strategic partnerships in the coming weeks."

Joel Ware, owner of Bay Area Energy Solutions said, "We have worked with CleanSpark on projects in the past and we were happy to hear about their new partnership program and to officially become a member. This program will give us the tools to jointly bid and promote projects easier and with additional support from the CleanSpark team."

Parties interested in learning more about CleanSpark's Partnership Program are encouraged to inquire by contacting the Company directly at info@cleanspark.com or by visiting the Company's website at  www.cleanspark.com/partners.  

Investors are encouraged to contact the Company at ir@cleanspark.com, or by visiting the Company's website at https://ir.cleanspark.com/

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About Bay Area Energy Solutions, Inc.:
Bay Area Energy Solutions, Inc. provides custom solar design and installation services for residential and commercial properties in the Greater California Bay Area. Bay Area Energy Solutions, Inc. is proud to be a certified Sunpower dealer, and a Tesla PowerWall authorized installer.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries, demand for our software products; adoption of our partnership platform; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-inc-announces-launch-of-strategic-partnership-platform-to-accelerate-growth-and-release-of-recent-ibm-case-study-301099269.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 9, 2020 9:00 AM

CleanSpark, Inc. and ReJoule Awarded $2.9 Million Dollar Second-Life EV Battery Grant with Support from Ford Motor Company

SALT LAKE CITY and STANTON, Calif., July 9, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, and ReJoule, a battery diagnostics and optimization company announced that they have been awarded a grant from the California Energy Commission.

The grant is approximately $2.9 million and is slated to be deployed over the next 30 months. The funds will be distributed to the multi-group partnership of clean energy and technology companies. ReJoule and CleanSpark will be further supported by Ford Motor Company, BigBattery, and GRID Alternatives. CleanSpark expects to receive approximately $470,000 of the grant funding for its microgrid design and mVSO software services and follow-on deployment of its mPulse software and controls. CleanSpark has also agreed to provide over $88,000 in matched funding.

The California Energy Commission Grant proposal was for Validating Capability of Second-life Batteries to Cost-Effectively Integrate Solar Power for Small-Medium Commercial Building Applications. The underlying goal is to deploy second life batteries from electric vehicles for use in a microgrid application.  Additional grant information can be found here: https://www.energy.ca.gov/solicitations/2020-02/gfo-19-310-validating-capability-second-life-batteries-cost-effectively.

As electric vehicles (EV) reach their end-of-life, batteries often retain from 70-90% of their original capacity.  This presents opportunities for repurposing EV batteries as low-cost stationary storage in a second-life application.  Extending the life of used EV batteries further lessens the need for mining of rare earth minerals, thereby making batteries as an energy storage solution more sustainable. The largest barriers to repurposing used EV batteries are the cost of disassembly, long test times, and uncertainty of the remaining useful life. While there are a variety of tests and grading methods, there has been limited success to reliably and cost-effectively test and grade used batteries for second-life applications.

Ford Motor Company, Inc. (NYSE: F) will be supporting the project by donating used EV battery modules and providing the ReJoule team with technical support from Ford's Greenfield Labs based in Palo Alto, California. Last year, Ford agreed to a framework with the California Air Resources Board to meaningfully reduce greenhouse gas emissions in its vehicles as part of Ford's long-term sustainability strategy to achieve carbon neutrality globally by 2050. To learn more about Ford's sustainability leadership and commitments, visit sustainability.ford.com.

ReJoule, as the primary grant recipient, will develop a battery grading process and degradation model.  They will then collaborate with the other partners to validate the feasibility of repurposing EV batteries for storage paired with solar Photovoltaic systems to provide building resiliency and load shifting services for small and medium-sized commercial buildings.

The systems covered by the grant will be deployed at two locations, Lucky Cat Labs, an artist's studio located in Los Angeles, California, and a Housing and Training center for the Homeless, located in Santa Ana, California. They will both incorporate solar and second-generation energy storage batteries controlled by CleanSpark's mPulse software and controls platform and ReJoule's battery management system. 

Steven Chung and Zora Chung, Co-Founders of ReJoule stated, "This is a big step towards our goal of enabling the circular economy for EV batteries. This project will address the technical challenges associated with repurposing used EV batteries and demonstrate our technology in a commercial setting. We are excited to work with our partners composed of companies and nonprofits dedicated to combating climate change through the deployment of clean energy solutions."

Zach Bradford CEO of CleanSpark added, "This is an exciting opportunity for CleanSpark, we recognize the need in the market to extend the life of battery energy storage solutions. Electric Vehicle batteries are an ideal candidate to provide not only long-term value for deployment in residential and commercial applications, but repurposing used EV batteries can greatly assist in the avoidance of potentially substantial disposal and recycling costs. We have found that cost is generally the single largest factor that is considered by an end user. The ability to effectively offer lower cost solutions using second life batteries not only increases sustainability but it could potentially open up an entirely new market to those who find new energy storage systems cost prohibitive."

Will Paxton, electrification research engineer at Ford's  Greenfield Labs says, "We are excited to work with innovative companies such as ReJoule and CleanSpark to improve the sustainability of electrified transportation and move closer to a circular economy for EV batteries."

Parties interested in learning more about CleanSpark's Microgrid platform are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.cleanspark.com.

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

About ReJoule:
ReJoule was founded in 2017 with the goal of reducing battery waste by enabling a more streamlined battery life cycle. Its fast battery diagnostics enables a more accurate measurement of the battery's health. Uncertainty on battery health adds overhead costs which leads to excess waste along the battery's life cycle. As batteries power more cars and buildings, more advanced diagnostics helps bring battery costs down and accelerate electrification. ReJoule's proactive system dynamically adjusts for optimal performance to increase usable battery capacity and improve safety. By enabling a step-change in the world's understanding of how batteries perform, ReJoule makes battery systems cheaper, safer, and more sustainable. For more information about ReJoule, visit www.rejouleenergy.com or email Info@rejouleenergy.com

About Ford Motor Company:
Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification; mobility solutions, including self-driving services; and connected services.  Ford employs approximately 188,000 people worldwide. For more information regarding Ford, its products and Ford Motor Credit Company, please visit www.corporate.ford.com.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-inc-and-rejoule-awarded-2-9-million-dollar-second-life-ev-battery-grant-with-support-from-ford-motor-company-301090908.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jul 1, 2020 10:00 AM

CleanSpark Announces Wildfire Incentive and Tax Credit Integration for mVSO Energy Modeling Software

SALT LAKE CITY, July 1, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced the release of enhanced features and modeling tools to its mVSO (microgrid Value Stream Optimizer) software.  mVSO is a SaaS-based product used by Solar Developers, Battery Suppliers, and EPC's (Engineering, Procurement and Construction Companies) to model the ideal mix of distributed energy assets to deliver cost savings, energy resiliency and sustainability.

This update allows the user to more easily identify and take advantage of incentives targeted to specific conditions or regions.  The new release features enhanced modeling for the California Self-Generation Incentive Program, commonly referred to as "SGIP".  SGIP will now provide rebates for business and residential customers that add energy storage as a means to maintain power resiliency during a grid disruption.  A requirement for eligibility to receive these rebates is for a user's system to meet certain functional criteria which can be demonstrated through advanced modeling, and CleanSpark's mVSO streamlines this process.

The newest SGIP programs provide  incentives that can significantly reduce the costs of microgrids and distributed energy systems for projects serving people who meet specific qualifications.  A portion of the program's budgets are set aside  for customers living in high fire-risk areas, customers who experienced PSPS (Public Safety Power-Shutoff) events on two or more distinct occasions, low-income customers, and critical facilities that provide services to these fire prone areas.

According to CA.Gov, as of the date of this release, there are currently 2,996 fires thus far in 2020 and 19,951 acres burned, both figures represent increases compared to 2019.  In response to previous California wildfires, the California Public Utilities Commission (CPUC) initiated rules to protect the public from potential fire hazards and posted interactive maps on its website to help consumers and installers determine if specific locations are eligible for either the SGIP or Equity Resiliency incentive.

CleanSpark's CEO Zach Bradford commented, "We are excited with both the timing and the additional functionality of this update; These enhancements will allow energy professionals to efficiently model the incentives in these qualified areas, and to validate the value of the incentives to the end customers through easy to understand proposals." He added, "We anticipate that these features will increase demand for our mVSO software, which we believe will create additional pull-through sales of our patented microgrid controls software."

Parties interested in CleanSpark's mVSO Software platform are encouraged to visit the Company's website at https://www.cleanspark.com/mvso-info  or contact the Company directly at info@cleanspark.com.  Investors are encouraged to contact the Company at ir@cleanspark.com

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the ability of our software to produce the expected energy benefits, expectations of future growth of CleanSpark  may not be realized, timing of deliveries, ongoing demand for our software products, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-wildfire-incentive-and-tax-credit-integration-for-mvso-energy-modeling-software-301086904.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jun 23, 2020 9:00 AM

CleanSpark Announces California Off-Grid Software Deployment and Provides Revenue Update

SALT LAKE CITY, June 23, 2020 /PRNewswire/ -- CleanSpark, Inc. (NASDAQ: CLSK), a diversified software and services company, announced the successful commissioning and deployment of its mPulse software on a comprehensive off-grid installation system located in California City, California. CleanSpark provided software and controls as well as the battery energy storage solution (BESS) for the system. Good Energy Solar, a Santa Barbara, CA based company, is the lead project developer who provided the photovoltaic (PV) solar system and installation services. The system integrates 43-kw of solar PV with 60-kw BESS and a 45-kw baseload generator with 150-kw generator planned for future business growth.

Engaged by Good Energy Solar, CleanSpark deployed its team of energy professionals to produce a project feasibility analysis of the system utilizing CleanSpark's microgrid Value Stream Optimizer (mVSO) platform; a SaaS-based software and industry-leading solution for energy project analysis and modeling. Energy resiliency and savings were the primary vectors in mVSO's modeling exercise for the end-user, a controlled-distribution agricultural facility. Based on this and a variety of factors, mVSO provided a 20-year economic model outlining the cash flows of the system and detailed cost-avoidance benefits. In the end, mVSO was able to analyze and provide the end-user with a plan to deploy a full, off-grid system sized to meet its needs, which included recommendations for complete project specifications and implementation plans for the solution, in an efficient, cost effective manner.

Zach Bradford, CEO and President of CleanSpark, stated, "Given the remote location of the end-user's operation, local utility companies were unable to provide electrical grid service to the facility in a timeframe that supported their business plans. By going completely off-grid, CleanSpark and Good Energy Solar have allowed the customer to create and independently own their energy system to meet their current and future power requirements. Our controls are designed to minimize fuel consumption to provide the lowest possible levelized cost of energy. The system is designed to be fully expandable as the business grows. CleanSpark's mPulse software and controls solution is uniquely capable of scaling as the system size and load increases and can easily integrate utility grid power if and when the utility provides electricity to the site." 

Mr. Bradford continued, "As our mPulse software deployments increase, we expect to see revenues and margins improve.  Deployments like these also create additional opportunities for CleanSpark to continue to add long-term SaaS revenues. Our team is excited about this opportunity to again demonstrate the value of our controls software for a customer that would otherwise be subjected to high energy operating costs due to public utility constraints. The company will continue to update all stakeholders as to current deployments and contracts as they develop. We have made significant progress on our stated objective to rapidly scale both our business and the associated revenues. Our year to date revenues through mid-June are approximately $7.7 million and we expect to exceed $8.0 million in year-to-date revenue by the end of this fiscal quarter. Our sales pipeline continues to grow, and we are optimistic about the increased demand we are seeing across all lines of our business." 

Parties interested in CleanSpark's mPulse Software platform are encouraged to visit the company's website at https://www.cleanspark.com/mpulse or contact the company directly at info@cleanspark.com.  Investors are encouraged to contact the Company at ir@cleanspark.com

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. The company's software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. The company's product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in its business, including, without limitation: the fitness of its products for a particular application or market, the ability of its software to produce the expected energy benefits, expectations of future growth may not be realized, timing of deliveries, ongoing demand for its software products and related services, the impact of global pandemics (including COVID-19) on the demand for its products and services; and other risks described in its prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in its Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and CleanSpark undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-california-off-grid-software-deployment-and-provides-revenue-update-301081792.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jun 16, 2020 9:00 AM

CleanSpark Announces Significant Upgrades to its Cutting-Edge Analytics and Modeling Software

SALT LAKE CITY, June 16, 2020 /PRNewswire/ -- CleanSpark, Inc. (NASDAQ: CLSK), a diversified software and services company today announced the release of improved features and an optimized user interface to its proprietary energy analytics software. The update provides a new look and feel as well as many improved sales-related features to its Microgrid Value Stream Optimizer (mVSO) Software as a Service (SaaS) energy modeling platform.  mVSO is used by microgrid developers to efficiently create money saving energy proposals for their client projects.

mVSO's user interface has been refreshed and reorganized to reflect updated branding and its forward-looking approach to improve the user's flow through the application. The process of creating a new project for analysis has been streamlined with a step-by-step wizard, as well as the ability to set your project's location either by physical address or by geographic coordinates.

An example screen shot of mVSO's New Project Wizard:

The ability for energy professionals to use the Software to share the modeled results with their end-customers and track sale's engagement has been greatly expanded. Users can share detailed reports and analysis with multiple parties directly through the mVSO platform. Subsequently, all customer activity and interaction with these reports are tracked and users are notified when an interested party has interacted with the proposal. mVSO now enables the generation of a sharp, effective project proposal with a single click. The proposal is designed to provide all of the salient information an end-customer needs to make an informed buying decision.

Amanda Kabak, CleanSpark's CTO and Principal Software Architect stated, "Our mission for mVSO is to provide distributed energy and microgrid developers an easy and effective way to educate their end customer on the full benefit of a proposed project. The recent upgrades and improvements we've made to the software are specifically geared to that end. The ability to share reports with any number of parties, the capability to download an effective proposal, and the increased visibility into customer interaction with these artifacts will undoubtedly help drive sales for our users."

An example of mVSO's Redesigned Project View:

Ms. Kabak continued, "mVSO's unique optimization approach is both powerful and, now, even easier to use. The new project wizard guides users through the creation of a project and the analysis of various scenarios to derive the optimal combination of equipment based on a project's location, utility interconnection, and energy use profile to achieve the highest ROI. Kabak added, "The ability for our users to advance a project from proposal to contract by leveraging detailed results provided by our software in just a few clicks and with minimal friction has always been the driving force behind mVSO's design."

mVSO's proposal template highlights project financials and detailed operations:

Zach Bradford, CleanSpark's CEO added, "These improvements are meaningful to all CleanSpark stakeholders, not only due to the added functionality and ease of use, but also because we expect these features to lead directly to additional mVSO subscriptions. As mVSO expands its market share, we expect the resulting 'pull-through' sales of our mPulse software and controls platform to increase. In conjunction with this new update, the company has launched a new marketing campaign focused on energy developers and we are optimistic about the expected results.  

Parties interested in CleanSpark's mVSO Software platform are encouraged to visit the company's website at https://www.cleanspark.com/mvso-info or contact the company directly at info@cleanspark.com.

About CleanSpark:

CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the ability of our software to produce the expected energy benefits, expectations of future growth of CleanSpark  may not be realized, timing of deliveries, ongoing demand for our software products, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

CleanSpark, Inc. Logo (PRNewsfoto/CleanSpark, Inc.)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-significant-upgrades-to-its-cutting-edge-analytics-and-modeling-software-301077651.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Jun 4, 2020 9:00 AM

CleanSpark Provides Update on Strategic Acquisition and Announces an 80% Increase in p2klabs' Comparable Revenues

SALT LAKE CITY, June 4, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, announced that its recently acquired subsidiary p2klabs Inc. has seen significant growth thus far in 2020, contributing to CleanSpark's overall success.

During the four months ending May 31, 2020, p2klabs revenues increased to $472,776 compared to the same period in 2019 when the company produced $262,475 in revenues.  This represents an 80% increase in year over year billings.  The company attributes the increase to a combination of factors, including increased access to capital, expanded product offering and the ability to attract and retain key personnel as a function of being a component of a much larger organization.

"This acquisition provides value across a wide spectrum of our operating plan. Having utilized p2klabs as a service provider prior to the acquisition, we had great insight into their products, policies, and personnel. We recognized the value of bringing these resources 'in-house' to reduce costs and add talent to our team. Further, we recognized that we could expand the reach of p2klabs' offering through our existing relationships and channel partners. We also identified the contributions that could come as a result of integrating key personnel of p2klabs into the CleanSpark team. We are now beginning to realize the benefits of these efforts and we expect the positive trends to continue," stated Zachary Bradford, CleanSpark's President and CEO. 

Since the closing of the acquisition, p2klabs has spearheaded the redesign of CleanSpark's corporate website, developed an entirely new suite of marketing materials, and significantly enhanced the interface, usability, and user experience of the company's SaaS energy modeling tool 'mVSO' and its mPulse controls platform. Additionally, p2klabs has continued to grow its core business by gaining multiple new clients and increasing its revenues.

Amer Tadayon, CleanSpark's new Chief Revenue Officer added, "The access to capital as a result of the CleanSpark acquisition has allowed p2klabs to bolster its team and to enhance its service offerings, allowing us to accelerate our revenue growth by contracting both with new clients as well as existing customers. p2klabs' business is thriving since being acquired, and our entire team is pleased with the overall contribution to CleanSpark's initiatives for its core products, while also increasing our consulting revenues."

Parties interested in learning more about CleanSpark's Microgrid platform are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:
CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth of CleanSpark and/or p2klabs may not be realized, timing of deliveries, ongoing demand for our software products and p2klabs' consulting services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-provides-update-on-strategic-acquisition-and-announces-an-80-increase-in-p2klabs-comparable-revenues-301070509.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

May 19, 2020 9:00 AM

CleanSpark Announces Grant of Additional United States Patent

CleanSpark Inc. adds to its Portfolio of Intellectual Property Surrounding Forecasting and Distribution

SALT LAKE CITY, May 19, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, is pleased to announce that the United States Patent and Trademark Office (USPTO) has approved for issuance an additional patent protecting the company's technology.  The USPTO notification indicates that the application will issue as U.S. Patent No. 10,658,839 on May 19, 2020. 

"Today's patent specifically protects our proprietary system and method for distributing energy between microgrids.  It particularly addresses the challenge of determining when it is appropriate for one microgrid to share power with another microgrid.  In the patented system and method, a microgrid forecasts its own future power needs, the microgrid then uses this forecast to determine if and when to share power with another microgrid," stated Zachary Bradford, CleanSpark's President and CEO.

"This patent further protects the technology and methods our platforms use to intelligently make decisions related to power sharing based on factors ranging from energy demand, utility rates, time-of-use, weather forecasting and others.  The value of integrating multiple microgrids in concert to create an ecosystem of resources working together to achieve increased resiliency, efficiency for cost-avoidance, revenue generation or reduction in greenhouse gas emissions is significant. Our system flexibility allows these priorities to be set by the system owner," concluded Bradford.

Parties interested in learning more about CleanSpark's software platforms or services are encouraged to inquire by contacting the Company directly at info@cleanspark.com, or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved.  Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, the ability for us to successfully protect and enforce our intellectual property rights, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-grant-of-additional-united-states-patent-301061516.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

May 18, 2020 9:00 AM

CleanSpark to Present in the alphaDIRECT Virtual Conference Series on May 20th, 2020

SALT LAKE CITY, May 18, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software development and intelligent energy services company, today announced that it will be participating in the alphaDIRECT Virtual Conference Series on Wednesday, May 20th, at 2:00 PM ET.

Amanda Kabak, CleanSpark's Chief Technology Officer and Principal Architect, will present on CleanSpark's innovative software technology platform, followed by a question and answer session. The presentation will be available for all investors and will be webcast live and archived for replay by visiting the alphaDIRECT Investor Center page at www.alphadirectadvisors.com.

"I look forward to presenting in the upcoming alphaDIRECT Virtual Conference Series where I can discuss CleanSpark's innovative software technology platform, targeting the distributed power generation and microgrid sector. Distributed power is continuing to gain market share, and there is growing demand for software that can tie various energy-related resources into a single optimized solution," said Amanda Kabak, CleanSpark's CTO and Principal Architect.

Investors interested in participating in this event must register using the link below. Please note that registration for the live event is limited but may be accessed at any time for replay.

Registration Link:
https://globalmeet.webcasts.com/starthere.jsp?ei=1321864&tp_key=67c9e0006d

Parties interested in learning more about CleanSpark's software platforms or services are encouraged to inquire by contacting the Company directly at info@cleanspark.com, or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:

CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-to-present-in-the-alphadirect-virtual-conference-series-on-may-20th-2020-301060614.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

May 12, 2020 9:00 AM

CleanSpark Announces Quarterly Results in a Statement to Its Shareholders

CleanSpark, Inc. Delivers Record 370% Year-Over-Year Increase in Revenue for the six months ended March 31st.

SALT LAKE CITY, May 12, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, is pleased to update its shareholders and comment on the Company's financial results presented in its most recent Form 10-Q.  The Company recommends that readers also review the Company's 10-Q in its entirety, a free copy of which is available to all interested parties on the Company's website or on www.sec.gov.

Dear Fellow Shareholders,

The past months have been challenging for the entire world and our hearts go out to all those that have been affected by the COVID-19 pandemic. We count ourselves as very fortunate as we delivered our seventh consecutive record-setting quarter with a significant increase in year-over-year revenues during this trying period. Through our strategic acquisition of p2klabs, Inc. and expansion of our existing product offerings, we are optimistic that we will continue to see increased adoption of our solutions and associated revenues.  

Our sales in fiscal 2020 are led by sales of our custom switch gear equipment with $4.0 Million in products delivered during the six months ending March 31, 2020.  We continue to see a sizable percentage of repeat customers in this segment and we expect this trend to continue throughout 2020.  As of March 31, 2020, CleanSpark had a total of approximately $3.5 million in hardware purchase orders under contract, which we expect to deliver over the next two quarters.  We continue to target $7.0 million in delivered equipment sales prior to the end of our fiscal year.

We plan to continue increasing our marketing focus on our mPulse software and controls platform and mVSO, (microgrid Value Stream Optimizer) our Software as a Service (SaaS) energy design and modeling platform. We expect these efforts will result in increased revenues and an improved margin profile.  To further aid the company in these actions we were pleased to announce the addition of Marty Weishaar as our new Vice-President of Marketing, in March 2020.  Marty formerly served as the New Products Director at Lending Tree.  During the six months ending March 31, 2020, we delivered over $345,000 in software, energy storage and associated hardware. As of the date of this release we have over $1.15 Million in additional software, energy storage and associated hardware orders under contract and we continue to target $1.0 million in delivered revenue related to this category prior to the end of our fiscal year.

On January 31, 2020 we closed on the acquisition of p2klabs. This acquisition has enabled CleanSpark to accelerate the development and deployment of new features to our software platforms while also expanding our overall sales and marketing capabilities. p2klabs increased the depth of talent to our team, including the addition of Amer Tadayon, the President of p2klabs who now serves CleanSpark as the company's Chief Revenue officer.  In addition to his experience at p2klabs, Amer has worked with world-class companies including IBM, Cognizant and frog Design.  In addition to the internal resources provided, p2klabs produces high-margin service revenues and contributed a total of $231,000 in revenues between February 1, 2020 and March 31, 2020.  Since the acquisition closed we have invested in marketing and additional staff for the p2klabs business and expect the quarterly revenue contribution to increase significantly over the coming quarters. We continue to target $2.0 million in p2klabs revenue prior to the one-year anniversary of the acquisition, January 31, 2021.

As of March 31, 2020, in total as an organization, the Company had over $5.6 million in revenue under contract from all three major lines of business that is expected to be delivered over the next three quarters.

We greatly appreciate the continued support from all our shareholders as we continue to put our efforts towards increasing shareholder value, achieving profitability and improving our margin profile through increased software and service revenues. 

Sincerely,

Zachary Bradford, CEO and S. Matthew Schultz, Chairman

Three months ended March 31, 2020 US GAAP Financial and Operating Highlights:

All amounts below are presented in accordance with accounting principles generally accepted in the United States of America ("US GAAP") unless otherwise indicated.

  • Three-months ended March 31, 2020 Revenue of $3,658,283, up 405% from $723,899 in 2019.
  • Three-months ended March 31, 2020 Gross profit increased 434% to $704,037, up from $131,881 in 2019.
  • Three-months ended March 31, 2020 Net loss per share improved by $0.75 per share to $(1.13) from $(1.88) in 2019.

Six months ended March 31, 2020 US GAAP Financial and Operating Highlights:

All amounts below are presented in accordance with accounting principles generally accepted in the United States of America ("US GAAP") unless otherwise indicated.

  • Six-months ended March 31, 2020 Revenue of $4,635,107, up 370% from $986,806 in 2019.
  • Six-months ended March 31, 2020 Gross profit increased 365% to $798,140, up from $171,462 in 2019.
  • Six-months ended March 31, 2020 Net loss per share improved by $1.03 per share to $(1.56) from $(2.59) in 2019.

Certain Non-U.S. GAAP Financial measures:

The Company assesses its results of operations using certain non-U.S. GAAP financial measures, in addition to U.S. GAAP financial measures. The Company believes these non-U.S. GAAP financial measures provide useful information to investors and others in understanding and evaluating its operating performance in the same manner as management does.

The non-U.S. GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, any financial measures prepared in accordance with U.S. GAAP. The Company's non-U.S. GAAP financial measures may be defined differently from time to time and may be defined differently than similar terms used by other companies, and accordingly, care should be exercised in understanding how the Company defines its non-U.S. GAAP financial measures.

Reconciliation of non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)



 For the Three months Ended



March 31,
2020


March 31,
2019

Net loss (US GAAP)

$

(5,815,098)

$

(7,764,540)

Less: Depreciation, Amortization and other non-cash items:





Depreciation and amortization


674,587


499,636

Software amortization


40,419


341,081

Stock based compensation


273,931


729,576

Non-cash interest charges, amortization of debt discounts and other


1,919,881


5,087,765

Unrealized gains on investments


1,651,763


-

Loss on settlement of debts


-


(6,800)

Total Depreciation, Amortization and other non-cash items:


4,560,881


6,651,258






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(1,254,517)

$

(1,113,282)





 For the Six months Ended



March 31,
2020


March 31,
2019

Net loss (US GAAP)

$

(7,731,352)

$

(10,048,091)

Less: Depreciation, Amortization and other non-cash items:





Depreciation and amortization


1,301,364


657,119

Software amortization


79,705


689,741

Stock based compensation


910,200


1,283,782

Non-cash interest charges, amortization of debt discounts and other


3,450,959


5,605,182

Non-cash amortization of right of use assets


21,726


-

Unrealized gains on investments


(983,759)


-

Loss on settlement of debts


-


19,425

Total Depreciation, Amortization and other non-cash items:


4,780,195


8,225,249






Non-GAAP Adjusted EBITDA (after elimination of stock based and other non-cash expenses)

$

(2,951,157)

$

(1,792,842)

Parties interested in learning more about CleanSpark's software platforms or services are encouraged to inquire by contacting the Company directly at info@cleanspark.com, or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:

CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved.  Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries of orders under contract, the successful integration of p2klabs, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-quarterly-results-in-a-statement-to-its-shareholders-301057359.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

May 5, 2020 6:00 AM

CleanSpark Announces Increase in Year-to-Date Revenues through April 2020

SALT LAKE CITY, May 5, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that as of April 30, 2020, its revenues for the prior seven months were approximately $5.6 million which surpasses its revenues for the entire 2019 fiscal year of $4.5 million by 24%.

CleanSpark's Chief Executive Officer, Zach Bradford, stated, "We have achieved significant progress even in the face of COVID-19. Our current fiscal year-to-date revenues through April 30, 2020 of approximately $5.6 million represent an increase of approximately 414% over the comparable year-to-date revenues in 2019. Our projections lead us to believe that we can maintain course and double our 2019 fiscal year revenues in 2020 and achieve our corporate goal of profitability by the end of this calendar year."

Mr. Bradford continued: "CleanSpark's revenue growth has continued to increase over the past two quarters.  The company has been able to maintain momentum even in the face of the current economic slowdown. We are optimistic that this momentum can continue throughout 2020 and into 2021.  We believe our momentum will continue as we expect to see growth in our core software and energy products along with an increase in new software service contracts from our recently acquired subsidiary, p2klabs."

Parties interested in learning more about CleanSpark's software platforms or services are encouraged to inquire by contacting the Company directly at info@cleanspark.com, or visiting the Company's website at www.Cleanspark.com.

About CleanSpark:
CleanSpark is a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries, demand for our software products, the effect of COVID-19 on the economy and markets, generally, and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cleanspark-announces-increase-in-year-to-date-revenues-through-april-2020-301052565.html

SOURCE CleanSpark, Inc.

News Provided by PR Newswire via QuoteMedia

Apr 21, 2020 9:00 AM

CleanSpark, Inc. Continues to Bolster Management Team with Addition of Former Lending Tree New Products Director as VP of Marketing

SALT LAKE CITY, April 21, 2020 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company announced today that it has continued to make key hires to support product and revenue growth. CleanSpark most recently hired Marty Weishaar as Vice President of Marketing. Mr. Weishaar made the transition from his Executive position at Lending Tree, America's largest online lending marketplace, and has led growth and acquisition marketing teams for over a decade.

Since being appointed CEO in late 2019, Zach Bradford has worked toward strengthening the Cleanspark management team by filling key positions including Lori Love as CFO and Amer Tadayon as Chief Revenue Officer. Ms. Love previously served as the Executive Vice President of Finance and Operations at Provident Trust Group a $3B trust company in Nevada and Mr. Tadayon, a software industry veteran, has held executive roles at Cognizant and frog design.

"Mr. Weishaar's addition to Cleanspark further rounds out an experienced management team that is poised to help take Cleanspark into the future with greater revenue growth and profitability.  Our goal for 2020 is to continue our strong revenue and product sales trajectory with expectations of doubling 2019 year over year revenues," said CEO Zach Bradford. He added, "We expect to accomplish this through focused direct sales and marketing of our products, specifically the addition of online marketing, which is something we haven't concentrated on in the past."

Parties interested in learning more about CleanSpark's Microgrid platform are encouraged to inquire by contacting the Company directly at info@cleanspark.com or visiting the Company's website at www.Cleanspark.com.

 

About CleanSpark:

CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services.  The Company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization. Our software is uniquely capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment. Our product and services consist of intelligent energy controls, microgrid modeling software, and innovation consulting services in design, technology, and business process methodologies to help transform and grow businesses.

 

Forward-Looking Statements:

CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the fitness of the product for a particular application or market, the expectations of future growth may not be realized, timing of deliveries, demand for our software products; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor Relations CleanSpark, Inc. (801)-244-4405 
News Provided by GlobeNewswire via QuoteMedia