CleanSpark

CleanSpark

Sustainable Bitcoin mining using low-carbon energy

About CleanSpark

Simplify's Rating
Why CleanSpark is rated
B
Rated C on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Energy

Crypto & Web3

Company Size

11-50

Company Stage

IPO

Total Funding

$457.2K

Headquarters

Poway, California

Founded

1987

Overview

CleanSpark focuses on Bitcoin mining by using specialized computers to verify transactions on the Bitcoin blockchain. The company operates data centers powered by low-carbon energy, making it a leader in sustainable Bitcoin mining. Unlike its competitors, CleanSpark emphasizes environmental responsibility, which helps build trust within its communities. The goal is to reduce carbon footprints while supporting the growth of blockchain technology.

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Simplify's Take

What believers are saying

  • CleanSpark achieved a 287.9% hashrate growth with 33.3% efficiency improvement in 2024.
  • The company plans to reach 50 EH/s in hashrate by H1 2025.
  • Rising Bitcoin prices enhance CleanSpark's profitability as a Bitcoin miner.

What critics are saying

  • Increased competition may impact CleanSpark's market share and profitability.
  • Bitcoin price volatility poses a financial risk to CleanSpark's revenue.
  • Regulatory scrutiny on environmental impacts could increase operational costs for CleanSpark.

What makes CleanSpark unique

  • CleanSpark uses low-carbon power for sustainable Bitcoin mining operations.
  • The company has a strong focus on reducing its carbon footprint.
  • CleanSpark's financial prudence is evident in its low debt levels.

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Funding

Total Funding

$457.2k

Above

Industry Average

Funded Over

4 Rounds

Post IPO Convertible funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Convertible Funding Comparison
Coming Soon

Benefits

Health Insurance

Life Insurance

Unlimited Paid Time Off

401(k) Retirement Plan

Company News

Coin Insider
Jan 10th, 2025
CleanSpark Becomes Fourth Bitcoin Miner to Hold 10,000 BTC

In 2023, CleanSpark acquired multiple mining facilities across the United States (US), significantly increasing its hash rate capacity.

Cointelegraph
Jan 6th, 2025
CleanSpark's Bitcoin stash climbs to 9,952 BTC as hashrate grows

CleanSpark significantly increased its mining capacity in 2024 by acquiring seven facilities in Knoxville, Tennessee.

PR Newswire
Jan 6th, 2025
Cleanspark Releases December 2024 Bitcoin Mining Update

Mines 668 bitcoin in December and 7,024 bitcoin in 2024287.9% hashrate growth with 33.3% efficiency improvement year over yearLAS VEGAS, Jan. 6, 2025 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today released its unaudited bitcoin mining and operations update for the month ending December 31, 2024."2024 marked a transformative year for CleanSpark, where we achieved true escape velocity in our industry," said Zach Bradford, CEO and President of CleanSpark. "We have firmly established ourselves as a U.S. leader in operational hashrate, cost-efficiency, fleet performance, bitcoin treasury management, and portfolio-wide uptime. Surpassing our year-end guidance, we reached an impressive 39.1 EH/s and enhanced fleet efficiency to under 17.6 J/Th ahead of schedule

CryptoGeek
Dec 23rd, 2024
Bitcoin miner CleanSpark hits milestone as hashrate exceeds 37 EH/s

CleanSpark recently closed a $650 million convertible bond offering and plans to use the capital to fund its growth to 50 EH/s. With the funding in place, the company expects to hit this new milestone in H1, 2025.

PR Newswire
Dec 23rd, 2024
Cleanspark Exceeds 2024 Year-End Guidance Of 37 Eh/S And Accelerates 2025 Guidance

CleanSpark has achieved 37.5 EH/s in operating hashrate with a fleet efficiency of 17.7 J/ThAccelerates guidance for 50 EH/s, expected in first half of 2025LAS VEGAS, Dec. 23, 2024 /PRNewswire/ -- CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today announced it has achieved and exceeded the previously announced year-end target of 37 EH/s of operating hashrate.The Company's newest data centers in Tennessee and Wyoming were energized last week. This is part of a multistage energization process that will continue into the next quarter. The added hashrate from these sites paired with site expansion, and ongoing fleet upgrades, has allowed the Company to exceed 2024 YE guidance and deliver 37.5 EH/s of operating hashrate. Fleet efficiency has reached 17.7 J/Th and is expected to continue to improve as the Company continues its strategic growth plans

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