CleanSpark (CLSK) Issues June 2024 Bitcoin Mining Update

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending June 30, 2024.

The Company achieved and exceeded its mid-year target of 20 EH/s in operational hashrate, a result of its previously announced acquisition of five new bitcoin mining sites in Georgia. The 60 MW of infrastructure from these sites include interruptible-load designated power purchase agreements (PPAs) with load balancing capabilities, a unique benefit for utility providers and the power grid.

"We reached a tremendous milestone on our path to 50 EH/s and beyond. Surpassing 20 EH/s in operational hashrate is more than double our hashrate from December," said Zach Bradford, CEO. "Doubling our hashrate takes grit and teamwork and our growth is a testament to the dedication of our teams. While our peers are exploring other avenues of income, we're laser-focused on delivering results and increasing our bitcoin mining hashrate and associated revenues. We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee."

June Bitcoin Mining Update (unaudited)

• Bitcoin mined in June: 445
• CY2024 bitcoin mined: 3,614
• Total bitcoin holdings as of June 30: 6,591
• Total bitcoin sold in June: 8.06
• Deployed fleet: 152,505
• Month-end fleet efficiency: 22.31 J/Th
• Current hashrate: 20.4 EH/s

The Company sold 8.06 bitcoin in June 2024 at an average price of approximately $67,514 per bitcoin. The average hashrate throughout the month of June was 17.85 resulting in an average of 14.83 bitcoin mined daily and a single day high of 22.41.

Growth Update
Definitive Agreement executed to acquire GRIID Infrastructure (Nasdaq: GRDI). The Company entered into an agreement to acquire GRIID Infrastructure. (See the Company's SEC filings for additional details.)

Closed acquisition of five turnkey sites in Georgia, providing 60 MW of immediately available data center infrastructure. Once fully deployed, sites will add 3.7 EH/s of total hashrate. As of June 30, approximately 1.7 EH/s have been deployed, with additional hashrate expected to come online in July.

Dalton expansion concrete pours for both building slabs have been completed and transformers have been set. When the full expansion is operational, CleanSpark's Dalton campus, which consists of four independent data centers, is expected to operate at 2.4 EH/s. The Company expects this 15 MW expansion to be completed by September 2024.

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