CleanSpark (CLSK) Report March 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 March 31, 2024.

"March results were the pay-off for our hard work and tremendous growth over the last few months as it was the first full month with the Sandersville expansion and our newly acquired sites in Mississippi online, bringing our entire operating hashrate to over 16 EH/s, with 17 EH/s imminent. The result was a record amount of bitcoin mined in the last full month before halving," said Zach Bradford, CEO. "I'm also pleased to report that our bitcoin treasury has grown to over 5,000 bitcoin. Pair that with our current cash balance of over $300 million and we are well on our way to taking advantage of what we expect to be one of the most active merger and acquisition seasons ever experienced in our industry.

"With the capital on hand we have now fully funded the remaining payments of all 160,000 S21s that we announced in January. We are prepared to thrive post-halving. We are now looking beyond halving and expect to be highly active over the coming months given that we have the balance sheet and capital tools to make us one of the most aggressive acquirers in the industry.

"Opportunities are prevalent, and we believe the consolidation prospects, which have been discussed abundantly throughout the industry for some time, are more relevant than ever before. Being prepared to act on the opportunities that meet the CleanSpark standard will be our focus for the balance of the year. We now have all the tools in place to be best positioned for action. We look forward to sharing more in the coming weeks and months as we continue our extraordinary journey to 50 EH/s while maintaining one of the most energy efficient bitcoin mining fleets in the world."

March Bitcoin Mining Update (unaudited)

• Bitcoin mined in March: 806
• CY2024 bitcoin mined: 2,031
• Total bitcoin holdings as of March 31: 5,021
• Total bitcoin sold in March: 3.37
• Deployed fleet: 133,963
• Month-end fleet efficiency: 24.63
• Current hashrate: 16.4

The Company sold 3.37 bitcoin in March 2024 at an average of approximately $58,800 per bitcoin. March daily bitcoin mined averaged 26 and reached a high of 28.14.

Operational Update

Dalton energization.
Construction of the Company's recent Dalton acquisition is nearing completion. Fifteen megawatts of power are scheduled to be turned on early this week; we expect to promptly begin racking miners upon energization. Once miners are racked, this site will bring CleanSpark's operating hashrate to over 17 EH/s. It is expected to be fully operational on or before April 12. This site marks the first step of adding 3 EH/s in the coming quarter to reach 20 EH/s.

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