CLEANSPARK CRYPTO MINING PRO

Within the coming quarter, it is expected that 3% of the energy, currently provided from coal will be taken off-line and replaced with carbon-free sources, such as solar. The sources of power are comprised of nuclear power, hydro-electric power, and solar, resulting in 95% of the electricity utilized for mining to qualify as carbon-free, with only 5% of the supply provided by coal.

Recommended AI News : Basware Launches E-Invoice Receiving Solution Compliant with China Fapiao RegulationsĬleanSpark ‘s local power supplier provided data to the Company this week on the current energy mix provided to its facilities. The Company also updated current energy data on the carbon impact of its facility, progressing towards the stated goal of being the lowest energy cost, cleanest Bitcoin miner in the United States. CleanSpark also purchased 48 custom-designed mobile mining data centers to house the units. These rigs are expected to deliver an estimated 740 PH/s of additional mining capacity. The Company expects to receive 1,298 of the units for deployment in summer 2021 and the remaining 3,480 units in twelve equal monthly shipments starting in November 2021. 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., a diversified software, services, and Bitcoin mining company, announced the order of 4,778 additional Bitmain S19 model Bitcoin mining rigs. 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