Business
CleanSpark Announces it Expects its Pipeline Under Contract to Result in over $900,000 in March Revenues
As a result, it Expects to Exceed its Prior Years Revenues of $4.5 Million in Half the Time SALT LAKE CITY, March 12, 2020 (GLOBE NEWSWIRE) -- CleanSpark,
About this update from Cleanspark, Inc.
[{"type":"text","content":"As a result, it Expects to Exceed its Prior Years Revenues of $4.5 Million in Half the Time\nSALT LAKE CITY, March 12, 2020 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and intelligent energy services company, is pleased to announce that it has realized in excess of $275,000 in revenue over the past week as part of $900,000 in pipeline under contract scheduled for the month of March. As a result, it expects to exceed its fiscal 2019 revenues of $4.5 Million in only the first six months of fiscal 2020.\n Zach Bradford CleanSpark’s CEO and President Stated, “We are encouraged by the results we have seen this year to date and in demonstrating the success of our growth strategy. Our strong sales have continued in March, we have already delivered $275,000 of $900,000 in contracted sales for the month of March. Based on our pipeline under contract we expect to achieve in excess of $4.5 million in year to date sales by the end of March.” Mr. Bradford added, “This is a significant year over year improvement and to add some perspective, we will exceed our revenue for the full fiscal year 2019 of $4.5 million in only the first six months of fiscal 2020. This is driven by a combination of our growth initiatives in conjunction with solid overall demand for distributed energy and microgrid products. According to Navigant Research the global market for microgrids is expected to experience a 28% compound annual growth rate from 2020-2029. As a result of our strong sales and the overall growing market demand, we reiterate our target of $10 million in revenue for the 2020 fiscal year. Our focus remains on growing our high margin revenue streams including services and software sales. On the back of our strong revenue growth and improved revenue mix, we maintain our belief that we can reach profitability before the end of the calendar year.” Parties interested in learning more about CleanSpark’s software platforms, services and proprietary technologies are encouraged to inquire by contacting the Company directly at [email protected] or visiting the Company’s website at www.Cleanspark.com. About CleanSpark: CleanSpark a software and services company which offers software and intelligent controls for microgrid and distributed energy resource management systems and innovative strategy and design services. The Company ...