CleanSpark Transitions Over One Exahash of Sustainable Bitcoin Mining Power to Foundry USA Pool

100% of CleanSpark’s Hashrate is Now Live on Foundry USA Pool, With Plans to Triple By Fall 2022

SALT LAKE CITY, Sept. 27, 2021 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”), a sustainable bitcoin mining and diversified vitality firm, and Foundry Digital LLC (“Foundry”), a wholly-owned subsidiary of Digital Currency Group, Inc. (“DCG”) centered on digital asset mining and staking, collectively introduced that CleanSpark has transitioned all of its bitcoin mining energy to Foundry USA Pool.

CleanSpark, Inc. Logo (PRNewsfoto/CleanSpark, Inc.)

CleanSpark provides over one exahash of sustainable Bitcoin mining energy to the Foundry USA mining pool.

CleanSpark has now added computing energy of multiple exahash, generated by over 10,000 latest-generation bitcoin mining machines, to the Foundry USA Pool. The Company plans to proceed to deploy machines to attain its aim of 2 EH/s by the top of 2021 and three.2 EH/s by fall 2022.

Mining swimming pools are an essential element of the bitcoin ecosystem as a result of they permit miners to mix their mining energy and improve the frequency in addition to chance of incomes bitcoins. Backed by its dad or mum firm DCG, Foundry USA Pool is the primary North American cryptocurrency mining pool that pays its customers via the Full-Pay-Per-Share (“FPPS”) payout technique with out counting on an exterior social gathering, guaranteeing secure, risk-free payouts.

“Mining swimming pools traditionally haven’t been as clear in the way in which they calculate their miners’ earnings,” mentioned Bernardo Schucman, senior vp of mining for CleanSpark. “Foundry USA Pool is an exception, nonetheless. Being an American mining pool with clear and compliant strategies, it supplies all stakeholders with full disclosure of their earnings.”

CleanSpark’s resolution to direct all of its bitcoin mining computing energy to Foundry’s US-based pool can be a step in the direction of higher decentralization of the mining pool panorama, which consultants like Schucman say is sweet for the general well being of the bitcoin community.

“Our relationship with Foundry is significant for our continued development and productiveness,” mentioned Zach Bradford, CleanSpark’s CEO and President. “We will proceed to pool our hashrate with Foundry as extra of our machines are deployed within the coming months as a result of we share a dedication to empowering decentralized networks.”

Foundry USA Pool is concentrated on institutional mining companies and is seamlessly built-in with DCG-owned cryptocurrency prime dealer Genesis to present institutional prospects with varied treasury administration companies, together with high-security custody, Bitcoin collateralized lending, yield earnings on bitcoin holdings, by-product merchandise and seamless liquidation. The pool’s different main prospects embody Bit Digital, BitDeer, Bitfarms, Core Scientific, Greenidge, HIVE, Hut 8 and Foundry itself, amongst others.

“We are excited to have publicly traded corporations corresponding to CleanSpark be a part of Foundry USA Pool, which is designed to present its prospects with institutional requirements of transparency, compliance and companies,” mentioned Mike Colyer, Foundry’s CEO.

About CleanSpark
CleanSpark, Inc., a Nevada company, is an vitality know-how and clear bitcoin mining Company that’s centered on fixing trendy vitality challenges. For extra details about the Company, please go to the Company’s web site at https://www.cleanspark.com/investor-relations .

About Foundry Digital LLC
A subsidiary of DCG, Foundry Digital LLC is a financing and advisory firm centered on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry supplies North American digital asset mining companies with capital and intelligence. Foundry is predicated in Rochester, NY. For extra info, please go to foundrydigital.com

Forward-Looking Statements
This launch comprises forward-looking statements as outlined within the Private Securities Litigation Reform Act of 1995, together with statements concerning the Company’s plans and expectations for enlargement of its vitality initiatives, working outcomes, enterprise technique, partnership with Coinmint, deployment of miners, digital forex mining actions, the expansion of its services and different statements concerning the expectations, beliefs, plans, intentions and methods of the Company. The Company has tried to establish these forward-looking statements by utilizing phrases corresponding to “count on,” “goal,” “anticipate,” “imagine,” “might,” “ought to,” “estimate,” “intend,” “could,” “will,” “plan,” “aim” and comparable phrases and phrases, however such phrases, phrases and phrases are usually not the unique means of figuring out such statements. Actual outcomes, efficiency and achievements might differ materially from these expressed in, or implied by, these forward-looking statements due to a spread of dangers, uncertainties and different elements, together with, with out limitation: the profitable deployment of vitality options for residential and industrial purposes; the health of the Company’s vitality {hardware}, software program and different options for this specific utility or market; the success of its digital forex mining actions; the expectations of future income development might not be realized; ongoing demand for the Company’s software program merchandise and associated companies; the impression of international pandemics (together with COVID-19) on the demand for our services; and different dangers described within the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), together with below the heading “Risk Factors” within the Company’s Annual Report on Form 10-Okay and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which communicate solely as of the date hereof, and we undertake no obligation to revise or replace this press launch (together with any forward-looking statements contained herein) to replicate occasions or circumstances after the date hereof.

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SOURCE CleanSpark, Inc.

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