Benzinga | May 13, 2021 06:07AM EDT

CleanSpark Acquires Additional S19-Pro Bitcoin Mining Rigs to Further Enhance Energy Initiative

CleanSpark, Inc. (NASDAQ:CLSK)("CleanSpark" or "the Company"), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, today announced the purchase of 2,400 additional S19-Pro rigs for delivery in the coming month to increase the overall hashrate efficiency of its mining fleet. The replacement of older-generation equipment is a strategic step in the Company's efforts to maximize energy efficiency in conjunction with its ESG focused approach to Bitcoin mining.

CleanSpark Further Increases Efficiency at 95% Carbon-Free Bitcoin Mining Facility.

The new miners will be deployed immediately upon arrival at the Company's Bitcoin mining facilities outside of Atlanta, Georgia. These new units are expected to be delivered during the first week of June 2021. Additionally, the Company has entered into an agreement to sell a portion of the replaced, prior generation rigs which consume more power and produce a much lower hashrate. CleanSpark anticipates that the exchange will decrease overall energy consumption approximately 1 MW while increasing corresponding production efficiency of the replaced equipment by over 37.5%.

The Company also expects to recognize a significant profit on the sale of the displaced units, most of which were purchased as part of the acquisition of ATL Data Center, LLC in December of 2020.