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CleanSpark | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC ·  Aug 5 15:17

Summary by Moomoo AI

On August 2, 2024, CleanSpark, a sustainable bitcoin mining company, released its unaudited July 2024 Bitcoin Mining Update, announcing significant operational advancements. The company mined 494 bitcoins in July, contributing to a total of 4,108 bitcoins mined in the calendar year 2024, and increased its bitcoin treasury by 567% compared to the same period in the previous year. CleanSpark also reported the expansion of its operations into Wyoming and Tennessee. In Wyoming, CleanSpark secured power agreements for 75 MW and closed on its first mining site, with plans to add approximately 2 EH/s to its hashrate by year-end. In Tennessee, the company began operations under agreements with GRIID Infrastructure Inc., adding 1 EH/s of hashrate in July, with expectations to increase this further. The company's deployed...Show More
On August 2, 2024, CleanSpark, a sustainable bitcoin mining company, released its unaudited July 2024 Bitcoin Mining Update, announcing significant operational advancements. The company mined 494 bitcoins in July, contributing to a total of 4,108 bitcoins mined in the calendar year 2024, and increased its bitcoin treasury by 567% compared to the same period in the previous year. CleanSpark also reported the expansion of its operations into Wyoming and Tennessee. In Wyoming, CleanSpark secured power agreements for 75 MW and closed on its first mining site, with plans to add approximately 2 EH/s to its hashrate by year-end. In Tennessee, the company began operations under agreements with GRIID Infrastructure Inc., adding 1 EH/s of hashrate in July, with expectations to increase this further. The company's deployed mining fleet consisted of 160,900 units with a month-end operating hashrate of 21.2 EH/s. CleanSpark sold a modest 2.54 bitcoins in July at an average price of $62,070 each. The company's CEO, Zach Bradford, expressed confidence in achieving a target hashrate of 32 EH/s by the end of 2024. CleanSpark's growth strategy includes the ongoing Dalton Expansion, which is expected to contribute an additional 0.9 EH/s upon completion in early September 2024. The company emphasized its commitment to low-carbon power and responsible infrastructure for supporting Bitcoin as a digital commodity.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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