CleanSpark Releases ESG and Corporate Responsibility Report

Clean energy accounts for more than 90% of its energy mix, making it a sustainability leader among public bitcoin mining companies in America, while the use of large-scale immersion cooling has allowed it to reduce e-waste and increase the efficiency of its mining machines by up to 85%, according to the report.

“Our commitments to people and the environment have been part of CleanSpark’s foundation from day one and they continue to evolve. We have employed the best practices used by many industries to produce a comprehensive report for the public and our stakeholders and for us to better understand our progress and the areas that need more of our focus," said Zach Bradford, CEO of CleanSpark. “As society and technology evolve, new standards and techniques will measure a corporation’s social and environmental responsibility. We are always on the lookout for such measurements and will include in our future reports those that are logically sound and in line with our commitments.”

CleanSpark completed its inaugural ESG materiality assessment in early 2022. This assessment, conducted by an independent consultant, consisted of a benchmark review of its peers and of leading ESG frameworks and ratings (e.g., SASB, TCFD, MSCI, ISS, and Sustainalytics). It also included a series of in-depth interviews and surveys designed to help identify the topics most relevant to the Company’s internal and external stakeholders and most influential to its business. These results have allowed the Company to identify key ESG value drivers. Some highlights of the report, which can be viewed or downloaded at this link, are as follows:  

Environment

• The Company’s bitcoin mining efforts are focused on procuring low-carbon grid-connected power that minimizes its impact on the planet. 
• Clean energy accounts for over 90% of the energy mix, according to data from the power providers that supply power to CleanSpark’s bitcoin mining operations.
• Mining campuses provide “spinning reserves” that facilitate utility companies’ ability to work with the fluctuating supplies that come from renewables while improving the performance of baseline power production facilities such as nuclear plants.
• Efforts to reduce e-waste have increased the amount of time CleanSpark’s operations run at, or near, 100% while dramatically reducing shipping and packing emissions, and related waste, that comes with sending mining machines to outside repair houses.
• Large-scale immersion-cooling at CleanSpark’s data center in Norcross, Georgia, further helped reduce e-waste and increased energy-efficiency of mining machines while increasing output of some machine models by up to 85%. 

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