CleanSpark is a NASDAQ-listed, sustainable bitcoin mining and energy technology company headquartered in Henderson, Nevada. CleanSpark’s mission is to transform how bitcoin is mined by being the world’s most trusted and transparent bitcoin miner. They are leading the proof-of work mining industry with sustainable business practices.
CleanSpark is addressing some of the energy industry’s most challenging obstacles by supporting blockchain technologies and renewable energy.
These obstacles range from soaring energy rates charged by centralized power companies to increasing natural disasters related to climate change to the growing uncertainty surrounding macroeconomic conditions.
Since CleanSpark’s early days as a microgrid company, its vision has been to facilitate abundant, affordable, clean energy. The company has provided factories, military bases, homeowners, and many others with the power of energy independence. The results also reduced power costs and energy waste by making energy generation and storage more efficient. That early focus on decentralized energy made the transition to decentralized money—bitcoin—an obvious one.
When the opportunity arose to acquire a data center in December 2020, CleanSpark recognized it could help shape how bitcoin mining is viewed. “Bitcoin is perhaps the world’s greatest playground for energy technology development that has ever existed. We can use it to innovate, test, and deploy new energy technologies,” said CleanSpark CEO Zach Bradford.
As the world responds to a changing climate by embracing renewable, clean energy sources, it will put pressure on energy infrastructure. Bitcoin mining incentivizes investment into renewable and distributed energy. Bradford also saw cryptocurrency mining as the critical support system for blockchain technology that provides substantial value for miners, the blockchain community, and stakeholders.
As of spring 2022, CleanSpark owns and operates two Bitcoin mining facilities in the Atlanta, Georgia, metropolitan area. The company also has a co-location agreement in Massena, New York, with Coinmint and in West Texas with Lancium. CleanSpark is among the first largescale data centers of its type in North America to purchase immersion cooling infrastructure for its Norcross bitcoin mining facility. It’s also implementing a solar array to increase its renewable energy mix as the company works toward its goal of 100% carbon-free energy.
As of April 2022, CleanSpark has 23,000 latest-generation miners in its fleet, with a total mining production capacity of over 2.3 EH/s. The company recently signed an agreement with Houston-based Lancium to secure an initial 200 megawatts (MW) at Lancium’s renewably powered data centers in West Texas, with an option to add 300 MW more in the future. After completely using this capacity with the latest generation of bitcoin mining machines, CleanSpark will add an estimated 16.0 EH/s to its current forecasted hash rate of 4.0 EH/s — strengthening its position as one of the top bitcoin miners in North America.
CleanSpark is continually making a name for itself as a leading sustainable bitcoin miner and is being recognized for its accomplishments. Forbes named CleanSpark to the 2022 America’s Best Small Companies list based on its performance in the Russell 2000 index. CleanSpark also earned the 44th spot on the Financial Times’ list of the 500 Fastest Growing Companies in the Americas. The list identifies the top 500 companies based in twenty North, Central, and South American countries, ranked by revenue growth rate from 2017 to 2020.
While the company focuses on its bitcoin mining operations, its commitment to an ESG approach remains strong. The adoption of clean and energy-efficient mining practices delivers value to CleanSpark shareholders and the communities it operates in alike. CleanSpark sources regional energy mixes with strong renewable energy portfolios for its mining facilities. It leverages the development of local energy projects, making infrastructure level upgrades when necessary. Abandoned buildings and energy have also been developed with the creation of jobs to help the local economy. By leading with sustainable business practices, CleanSpark’s pragmatic, non-ideological approach is leaving this planet better for our children and grandchildren.
