CleanSpark Exceeds 14 EH/s as Sandersville Expansion Comes Online

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Feb 15, 2024, 09:00 ET

100 MW of interruptible load now online, bringing increased grid services capabilities to Georgia

CleanSpark's operating hashrate has increased 40% since energization began early last week

LAS VEGAS, Feb. 15, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today announced it has finished energizing the first 100 MW of its expansion in Sandersville, Georgia, increasing its fleetwide operating hashrate to over 14 exahashes per second (EH/s).

"I believe we have likely set an industry record for speed of machine deployment, thanks to the extraordinary grit and resolve exhibited by our teams and partners in Sandersville," said Zach Bradford, CEO. "The excitement around this expansion has been palpable. Not only are we bringing economic development to the community, but we also provide an important grid service because our load is interruptible and can be returned to the community at a moment's notice as we work in partnership with the utilities and power providers to help continue Georgia's legacy of abundant and resilient energy."

Bradford continued, "I'm also pleased to report that our teams have already been deployed to Mississippi to begin transitioning these sites into the CleanSpark portfolio. We look forward to sharing additional details about our most recent acquisitions in the coming weeks."

About CleanSpark
CleanSpark (Nasdaq: CLSK) is America's Bitcoin Miner™. We own and operate data centers that primarily run on low-carbon power. Our infrastructure responsibly supports Bitcoin, the world's most important digital commodity and an essential tool for financial independence and inclusion. We cultivate trust and transparency among our employees and the communities we operate in. Visit our website at www.cleanspark.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. 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. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the Company realizing the hash rate and efficiency discussed in this press release; the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; 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 for the fiscal year ended September 30, 2023, and any subsequent filings with the SEC. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Investor Relations Contact
Brittany Moore
702-989-7693
[email protected]

Media Contact
Eleni Stylianou
702-989-7692
[email protected]

SOURCE CleanSpark, Inc.