CleanSpark (CLSK) Releases October 2022 Bitcoin Mining Update

CleanSpark Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the calendar year-to-date ending October 31, 2022.

“I’m excited to announce that phase two of our immersion-cooled mining campus in Norcross is now officially complete and hashing. The progress there has translated into another record-breaking month for us, mining a total of 532 bitcoin. And we’ve now seen a 20% increase in our hashrate two months in a row. As I’ve said many times before, these successes are made possible by the hard work of our teams who are absolutely dedicated to ensuring CleanSpark maintains its position as a top publicly traded mining company in North America,” said Zach Bradford, Chief Executive Officer.

Bitcoin Mining & Operations Update (unaudited)

• Bitcoin mined in October: 532, up 19% from September 2022
• Calendar year-to-date bitcoin mined: 3,622
• Total BTC holdings as of October 31: 290
• Total BTC converted for operations and growth in October: 836
• Currently deployed fleet of about 54,000 latest-generation bitcoin miners with a hashrate of 5.1 EH/s as of October 31, up 23% from September 2022

The Company funded growth and operations through the sale of 836 bitcoins in October 2022 at an average of approximately $19,340 per BTC. Sales of BTC equated to proceeds of approximately $16.1 million. October daily BTC mined reached a high of 19.2.

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