CleanSpark January 2024 Bitcoin Mining Update

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CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending January 31, 2024.

“I’m excited to announce that we expect energization to begin at our Sandersville expansion next week, with approximately 4.6 EH/s of machines fully hashing by mid-month,” said Zach Bradford, CEO. “I’m also pleased to announce that permitting is underway to double the hashrate at our Dalton campus to 1.6 EH/s. We have a unique relationship with the City of Dalton, which owns and operates its own utility, whereby we are compensated to operate as the city’s only interruptible load during times of emergency power needs. We view this as a best-in-class partnership and as an example of some of the creative ways that bitcoin miners are working with utilities to improve grid performance, even in regulated markets like Georgia.”

January Bitcoin Mining Update (unaudited)

  • Bitcoin mined in January: 577
  • CY2024 bitcoin mined: 577
  • Total bitcoin holdings as of January 31: 3,573
  • Total bitcoin sold in January: 6.4
  • Deployed fleet: 89,237
  • Month-end fleet efficiency: 26.4 J/Th
  • Current hashrate: 10.09 EH/s

The Company sold 6.4 bitcoin in January 2024 at an average of approximately $44,800 per bitcoin. Sales of bitcoin equated to proceeds of approximately $286,000. January daily bitcoin mined averaged 18.6 and reached a high of 21.9.

Operational update

Sandersville expansion. Crews are racking machines in preparation for a February 6 energization date. The first 100 MW are expected to be fully live by mid-February, delivering an expected hashrate of 4.6 EH/s. The remaining 50MW of the expansion is undergoing equipment testing by the manufacturer. For updates on our progress in Sandersville, check out the Company’s official YouTube account here.

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Dalton expansion. Permitting is underway for the expansion of the Company’s Dalton campus. The 15MW expansion is expected to double the operating hashrate there to 1.6 EH/s.

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