Cleanspark bitcoin4/8/2023 ![]() ![]() While the Company’s Norcross site, which deploys indoor immersion cooling, was not immediately impacted by the weather, the Company’s commitment to curtailing for the public good combined with the variable power rates associated with the facility, resulted in those machines also coming offline. The fleet was gradually powered back on when temperatures and humidity made it safe to do so. Winter Storm Elliot. A severe weather event in late December impacted most of the Company’s operations in Georgia, forcing the powering down of 98% of its machines from December 23 to mid-day December 28. December daily BTC mined averaged about 15 and reached a high of 22. Sales of BTC equated to proceeds of approximately $8.7 million. The Company funded growth and operations through the sale of 517 bitcoins in December 2022 at an average of approximately $17K per BTC. Since last week, all machines are back up and running at our full fleet capacity of 6.2 EH/s.” The overall effect was a slight decline in our monthly production from November. That preparation allowed us to safely power down our operations and to therefore expertly manage our bitcoin production margins in response to unusually high power rates and the extreme cold. While we did not know exactly when the freezing temperatures would hit, they weren’t unexpected, so we were able to prepare our operations well in advance. It forced us to curtail for a few days for the safety of our people and our infrastructure, and to protect the public good by ensuring grid stability during the most dramatic temperatures caused by the polar vortex. “This year’s incredible growth was marginally impacted by winter storm Elliot. Even in this down market, we are committed to the promise of bitcoin and are proud to be part of the global network that keeps it secure for millions of users across the world. “These accomplishments were helped along by a capital strategy that allowed us to take full advantage of the bear market, making us one of the few public miners to dramatically expand our fleet. Among our many accomplishments this year, I’m most proud of increasing our annual bitcoin production by over 200% as we expanded our fleet and the number of mining campuses we own and operate throughout Georgia,” said Zach Bradford, CEO. “Calendar year 2022 has been an incredible year of growth for CleanSpark and I’m so grateful to the teams that have made it all possible. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending December 31, 2022. 04, 2023 (GLOBE NEWSWIRE) - CleanSpark, Inc. Company hits new daily production high of 22 bitcoin Mines a record 4,621 bitcoin for calendar year 2022, up 200% from the prior calendar year ![]()
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