#CLEANSPARK CRYPTO MINING PRO#

In just the month of July, we have already produced nearly 70% of the Bitcoins that we mined over the entire prior quarter, and we expect to continue to grow at a strong pace. CleanSpark expects to approach 2.0EH/s by the close of calendar 2021, and 3.2EH/s by the end of September 2022.ĬleanSpark's Chief Executive Officer Zach Bradford stated, 'We have experienced tremendous growth over a relatively short period of time, and we are very enthusiastic about the results. With a Bitcoin price of $40,000 and current difficulty rates, 1.0 EH/s would result in an annual run rate of $136 million of revenue, in the mining segment alone. Upon deployment of these units, the Company expects to exceed a hashrate capacity of 1.0 EH/s, which would produce approximately 9.3 Bitcoin per day assuming current difficulty.

Additional units are scheduled for delivery in late August. Another 1,670 units, capable of producing approximately 148 PH/s or approximately 1.4 Bitcoin per day, have just been received and are expected to be installed this month. 95% Carbon-Free Bitcoin Annual Run Rate Nearing $136M.ĬleanBlok, the Company's Bitcoin mining division, now has over 7,500 of the latest generation mining units deployed with a hashrate capacity of over 740 PH/s, currently producing approximately 6 Bitcoin per day at today's difficulty rates. Logo (PRNewsfoto/CleanSpark, Inc.)ĬLSK Tops 6 Bitcoin Per Day, Deploys 200 MicroGrid Batteries. It’s not alone.Įven with the Nasdaq Composite losing 21% so far in 2022, most publicly traded Bitcoin miners have fared far worse-Riot Blockchain (RIOT) is down 51%, Bitfarms (BITF) has lost 45%, and HIVE Blockchain (HIVE) has tumbled 41%.CleanSpark, Inc. It’s been a rough start to the year for the publicly traded Bitcoin miner-shares have fallen 26% since the start of January. The company’s shares closed at $7.04 on Tuesday, down 11% on the day, while the Nasdaq Composite finished down 4%. It will be a gradual process, the company said last month, as it expects to have added 50 MW by the end of the year and another 150 MW by this time next year. News of CleanSpark’s financing comes just a month after the company announced it would add 500 megawatts of mining power to its facility in Fort Stockton, Texas.

If your CFO is struggling with the dilemma of whether to surrender your capital, assume debt to leverage up cash flows, or engage in risky, dilutive acquisitions in order to grow, #Bitcoin offers a compelling solution to strengthen your balance sheet. In March, MicroStrategy CEO Michael Saylor used the company’s Bitcoin to secure a loan to buy more Bitcoin. “As we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the company,” CFO Gary Vecchiarelli state in a statement.ĬleanSpark isn’t alone in using crypto assets-in this case, mining hardware-to secure loans rather than relinquishing shares of the company. The Las Vegas-based Bitcoin miner, which trades on Nasdaq under CLSK, immediately receives $20 million, and has until the end of the year to draw down on the remaining $15 million in increments of $500,000. The company has 23,000 Bitcoin miners in operation, and expects to add 12,000 before the end of October.

#CLEANSPARK CRYPTO MINING PRO#

The three-year financing agreement has been secured by 3,336 new S19j Pro Bitcoin mining rigs, according to a Securities and Exchange Commission filing submitted Friday. Bitcoin miner CleanSpark has agreed to borrow up to $35 million from Trinity Capital to purchase more mining equipment.

Cleanspark crypto mining