CleanSpark Releases February 2023 Bitcoin Mining Update

About this update from Cleanspark, Inc.

[{"type":"text","content":"Company mines 576 bitcoin in the year’s shortest month; hits new efficiency milestone of 30.6 watts per terahash\nLAS VEGAS, March 02, 2023 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending February 28, 2023. “Our background in energy efficiency gives us a clear advantage in the market as we make incremental improvements to our mining fleet,” said Zach Bradford, CEO. “For example, this month we improved our efficiency by over three percent compared to December 2022, when we last reported these numbers in our quarterly report. That progress, coupled with average wholesale power rates as low as two cents per kilowatt hour, has allowed us to increase our profit margins even as production compressed month-over-month due to February being the shortest month of the year. Months like February are practice-runs for halving—and we intend to continue to test and deploy all hardware and software at our disposal in our bid to be the best prepared miner when halving happens next year. “Meanwhile, construction continues in Washington, where an additional 50 megawatts are set to go online in a few months. We are relying on everything we have learned in this space, since constructing our very first mining campus in College Park, as we build the Washington expansion. Our ability to constantly iterate—whether we are building air-cooled facilities or deploying latest-gen immersion cooling—is built into the CleanSpark way. It’s how we have managed to grow fast and reliably in the few short years since we entered this industry—and how we’ll continue to grow well into our future.” February Bitcoin Mining Update (unaudited) Bitcoin mined in February: 576 CY2023 bitcoin mined: 1,273 Total BTC holdings as of February 28: 100 Total BTC converted for operations and growth in February: 778 Currently deployed fleet of about 66,900 latest-generation bitcoin miners with a hashrate of 6.6 EH/s The Company funded growth and operations through the sale of 778 bitcoins in February 2023 at an average of approximately $23K per BTC (compared to $19K in January 2023). Sales of BTC equated to proceeds of approximately $17.9 million. February daily BTC mined averaged about 20.6 and reached a high of 21.5. About CleanSpark CleanSpark (NASDAQ: CLSK) is Amer...

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