CleanSpark (CLSK) Issues October 2024 Bitcoin Mining Update

CleanSpark Inc. (Nasdaq: CLSK), America's Bitcoin Miner® (the "Company"), today released its unaudited bitcoin mining and operations update for the month ending October 31, 2024.

"October was another remarkable operational month in the books for CleanSpark. We also finalized the acquisition of GRIID Infrastructure Inc., adding more talented people to our team and a pipeline powered by the Tennessee Valley Authority (TVA) that we expect will take us to more than 400 MW in the state. There are just a few short months remaining in the calendar year, but we have a handful of projects under construction that we expect to come online and hashing before the start of 2025," said CleanSpark CEO Zach Bradford.

October Bitcoin Mining Update (unaudited)

• Bitcoin mined in October: 655
• CY2024 bitcoin mined: 5,734
• Total bitcoin holdings as of October 31: 8,701¹
• Total bitcoin sold in October: 2.78
• Deployed fleet: 196,032
• Average fleet efficiency: 20.89 J/Th
• Month-end operating hashrate: 31.3 EH/s

Throughout October 2024, the Company's average hashrate was 29.63 EH/s and average fleet efficiency was 20.89 J/Th, resulting in an average of 21.14 bitcoin mined daily. The single day high reached 22.94 bitcoin. The Company sold 2.78 bitcoin during October 2024 at an average price of approximately $62,470 per bitcoin.

Additional Updates
GRIID Infrastructure Inc. The acquisition of GRIID Infrastructure Inc. was completed on October 30, 2024, following approval of the transaction by stockholders of GRIID at the special meeting of its stockholders on October 28, 2024. The Company plans to grow to at least 400 MW in Tennessee in the coming years.

Knoxville, Tennessee. In early October, separate from the GRIID acquisition, the Company completed the purchase of its two remaining bitcoin mining facilities in the Knoxville area, part of the seven previously announced, bringing an additional 20 MW online. All seven sites are now operational with a combined 85 MW of active power capacity and house S21 pro miners, contributing approximately 5 EH/s to CleanSpark's hashrate.

Cheyenne, Wyoming: The construction of two immersion-cooled bitcoin mining data centers totaling 75 MW is underway. The company expects significant progress of electrical installation for both sites by the end of November 2024. Each site will house the latest generation S21 immersion XPs, adding an estimated 5 EH/s in total to CleanSpark's hashrate once installed and energized.

Clinton, Mississippi. The construction of two bitcoin mining sites near Clinton is nearly complete, and they will be delivered to CleanSpark fully turnkey by mid-November, with operations expected to begin in early December 2024. Upon completion and installation, the sites will house S21 pro miners with an expected combined operating hashrate of approximately 1 EH/s.

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