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CleanSpark Announces an Additional $177,000 Equipment Order
Repeat Customer to add Generator Breaker Panels to Intelligent Systems SALT LAKE CITY, Feb. 13, 2020 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), a
About this update from Cleanspark, Inc.
[{"type":"text","content":"Repeat Customer to add Generator Breaker Panels to Intelligent Systems\nSALT LAKE CITY, Feb. 13, 2020 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software development and intelligent energy services company, is pleased to announce that it has received a follow-on order for the company’s generator breaker panels, to function within a distributed energy system configured with other CleanSpark components and technologies. \n CleanSpark Chairman, Matthew Schultz stated “With this equipment order, our contracted equipment order pipeline slated for 2020 delivery is in excess of $5,100,000, thus far. Overall, the company forecasts that equipment orders will reach $7,000,000 for 2020 which would represent a 100% increase in equipment sales for fiscal 2019.” In addition to the rapidly growing equipment orders under contract, the Company also highlighted its recent financial and operational performance in a letter to shareholders, dated February 11, 2020. Included in the highlighted financial and operational performance were the following: Quarter ending December 31, 2019 Revenue of $976,824, up 372% from $262,907 in 2018.Quarter ending December 31, 2019 Gross profit increased 238% to $94,103, up from $39,581 in 2018.Quarter ending December 31, 2019 Net loss per share improved by $0.23 per share to $(0.40) from $(0.63) in 2018.CleanSpark announced a 10-year exclusive agreement with International Land Alliance (ILAL). The agreement calls for CleanSpark to provide its microgrid Value Stream Optimizer (mVSO) software services to support system design and engineering as well as integrating CleanSpark’s mPULSE software into the final systems on all future energy projects across the ILAL portfolio of properties. We are currently working with ILAL on two initial feasibilities studies and we anticipate that in 2020 we will recognize at least $200,000 in related revenue with a large increase expected in 2021 as ILAL’s development efforts begin to accelerate. CleanSpark announced the signing of a Memorandum of Understanding (“MOU”) with the Shoreline Unified School District of Sonoma, California to form a Strategic Alliance for Microgrid Assessment and Deployment. In accordance with the MOU, CleanSpark will evaluate two stages of grid resiliency for the District. The intended Resiliency Zones would utilize Solar Energy, Stora...