CleanSpark Provides Update on Bitcoin Balance and Mining Revenue
CleanSpark, Inc. an advanced software and controls technology solutions company focused on solving modern energy challenges, provided an update on the number of Bitcoins mined by its wholly-owned subsidiary, ATL Data Centers LLC. In the first 40 days since the acquisition of the mining operation, the Company has generated just over 56 Bitcoins as of end of business, January 19, 2021.
The Company had previously stated its plan to strategically manage the percentage of the coins it holds or sells according to market conditions and current Bitcoin prices. To date, CleanSpark continues to hold approximately 31 of the 56 Bitcoins it has mined. As the Company observes a 9/30 fiscal year end, the mining revenue thus far in FY 2021 has exceeded $1.6 Million based on the daily price of Bitcoin on the date they were mined.
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The company expects its daily production numbers to continue to increase over the coming weeks as we further expand mining production capacity. CleanSpark intends to update its investors with additional information as both the energy and data operation’s upgrades progress.
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Zach Bradford, CleanSpark’s President and Chief Executive Officer stated, “We committed to our investors that we would deliver regular updates on the status of our Bitcoin mining activities as we proceed with our growth strategy. After 40 days, we are pleased with the results generated to date and look forward to providing additional updates on the progress towards our stated objectives both in the energy space and in Bitcoin mining. Our team is dedicated to working diligently to maximize shareholder value and we will continue to update all interested parties as we achieve future milestones.”