GlobeNewswire Inc | Feb 25, 2021 08:00AM EST

February 25, 2021

PHILADELPHIA, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announced that a shareholder class action lawsuit has been filed against CleanSpark, Inc. (CleanSpark or the Company) (NASDAQ: CLSK) on behalf of investors who purchased shares of the Companys common stock betweenDecember 31, 2020 and January 14, 2021 (the Class Period).

According to the complaint, during the Class Period CleanSpark failed to disclose to investors: (i) that the Company had overstated its customer and contract figures; (ii) that several of the Companys recent acquisitions involved undisclosed related party transactions; and (iii) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On January 14, 2021, Culper Research published a report titled Cleanspark (CLSK): Back to the Trash Can, alleging, among other things, that CleanSpark has fabricated key elements of its business, including purported customers and contracts and is also rife with undisclosed related party transactions.Following this report, shares of the Companys stock fell $8.19 per share, or over 20% in value, to close on January 15, 2021 at $31.15 per share.

Current CleanSpark stockholders who purchased or acquired shares of the Companys stock prior to January 14, 2020 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 1585, or via email at skaskela@kaskelalaw.com or online at https://kaskelalaw.com/case/cleanspark/, to discuss this action and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

D. Seamus Kaskela, Esq.KASKELA LAW LLC18 Campus Blvd., Suite 100Newtown Square, PA 19073(484) 258 1585(888) 715 1740www.kaskelalaw.comskaskela@kaskelalaw.com