CleanSpark Announces June 2022 Bitcoin Production

Production hits all-time-high of 12.1 BTC per day; hashrate increases 12% month-over-month

LAS VEGAS, July 06, 2022 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today released its unaudited bitcoin production and operations update for the calendar year-to-date ending June 30, 2022.  

Bitcoin Production & Operations Update (unaudited) 

• June monthly production: 339 
• Calendar year-to-date production ending June 30: 1863 
• Total BTC holdings as of June 30: 561 
• Total BTC converted for operations and growth in June: 328 

• Currently deployed fleet of approximately 28,500 latest-generation bitcoin miners with a hashrate exceeding 2.8 EH/s  

The Company fully funded growth and operations through the sale of 328 bitcoins in June 2022 at an average of approximately $25,644 per BTC. Sales of BTC equated to proceeds of approximately $8.4 million. June daily BTC production reached a high of 12.1. 

Energy Business Update 

CleanSpark is one step closer to being a pure play bitcoin miner after achieving the important milestone last month of exiting the switchgear business. The agreement releases the Company from all liabilities related to its prior switchgear business, while retaining certain receivable rights from existing contracts. Additionally, certain prepaid deposits are expected to be returned to CleanSpark. “This move strengthens our balance sheet and frees up working and human capital for our high-value, bitcoin mining business,” said Zach Bradford, CEO.  

About CleanSpark  

CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges. For more information about the Company, please visit the Company's website at https://www.cleanspark.com/investor-relations. 

Forward-Looking Statements 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our future deliveries of miners and other related infrastructure, future deliveries of immersion cooling equipment, and future deployment of energy infrastructure,  industry and business trends, our business and financial/capital strategy, market growth and our objectives for future operations.