CleanSpark
CleanSpark, known as America’s Bitcoin Miner™, operates multiple Bitcoin mining facilities across the United States, emphasizing sustainability through the use of renewable energy sources.
Company Overview
CleanSpark is recognized as America’s Bitcoin Miner™. The company’s infrastructure supports Bitcoin, which is considered a vital tool for financial independence and inclusion. CleanSpark emphasizes sustainability in its operations, utilizing a mix of nuclear, hydroelectric, solar, and wind energy for Bitcoin mining. The company owns and operates data centers that primarily run on low-carbon power.
Bitcoin Mining Operations
CleanSpark has robust Bitcoin mining operations across various locations, including College Park, Massena, Norcross, Washington, Sandersville, Dalton, Meridian, Vicksburg, and Wiggins. The Norcross facility in Georgia stands out as an 87,000-square-foot data center with an immersion-cooled system, operating as 100% net carbon-neutral. The Sandersville site is the largest in CleanSpark’s portfolio, featuring cathedral-style buildings. Additional notable facilities include the 17,500 square-foot Vicksburg location in Mississippi and the Wiggins site, which spans nine acres with a 10,500 square-foot data center.
Energy Sources and Sustainability
CleanSpark is committed to sustainability and uses a mix of energy sources for Bitcoin mining, including nuclear, hydroelectric, solar, and wind energy. The company ensures its operations support clean energy infrastructure by purchasing high-quality renewable energy credits and connecting to low-carbon power on the grid. For instance, the Massena facility in New York runs entirely on hydroelectric power, while the Washington facility in Georgia draws power predominantly from nuclear energy.
Recent Financial Performance
In the FY2024 second quarter, CleanSpark reported a revenue of $111.8 million, a net income of $126.7 million, and an Adjusted EBITDA of $181.8 million. These figures underscore the company’s strong financial performance and its status as a leading Bitcoin mining entity. CleanSpark continues to expand its operations, recently planning to acquire 75 MW of Bitcoin mining sites in Wyoming for $18.75 million, with potential expansion capabilities of an additional 55 MW.
Future Expansion Plans
CleanSpark plans to further augment its capabilities by acquiring 75 MW of Bitcoin mining sites in Wyoming, with the transaction valued at $18.75 million. This acquisition has the potential to expand by an additional 55 MW, significantly enhancing CleanSpark’s operational capacity. Once fully operational, the Wyoming sites are expected to add over four exahashes per second (EH/s) to CleanSpark’s current hashrate, which already surpasses 17 EH/s.