CleanSpark Finalizes Purchase of ATL Data Center Real Estate
May 26 2021 - 8:30AM
CleanSpark, Inc. (Nasdaq: CLSK)(“CleanSpark” or the “Company”),
a diversified energy services and Bitcoin mining company,
focused on solving modern energy challenges, today announced that
it had completed the purchase of the six acre property which houses
ATL Data Centers LLC and the 41,387 square foot data center
building.
As a part of the transaction in December of 2020, CleanSpark
acquired the existing Bitcoin mining ‘mobile data centers’ within
the facilities. The Company is in the process of expanding the
number of mobile units deployed on-site in support of its focus on
maximizing value and minimizing operating expense. A purchase
option for the building and site was included in the original lease
agreement at closing, and the resulting purchase transaction was
finalized May 20, 2021 at a price of $4.71M. Obtaining ownership of
the property will save the Company over fifty thousand dollars per
month in rent resulting in a reduction of overhead and expenses by
more than 20% in our mining segment. The Company will leverage the
additional acreage to add renewables on site and to maximize the
value of its substantial power purchase agreement. Each of these
steps are in support of the Company’s disclosed intent to reach
carbon neutrality at the facility in 2022, demonstrating what is
believed to be the lowest cost/cleanest mix of any American Bitcoin
miner operating at scale.
CleanSpark President and CEO Zach Bradford said, “Ownership of
the real estate at the data center location provides the
flexibility for expansion within the massive footprint of the
property. The strategy will incorporate the addition of energy
storage and renewables to the previously announced new facilities
to be completed on site, the future home of CleanBlok.” Adding, “We
believe that these steps significantly enhance the net-asset-value
of the facility, further adding to the benefit to all of our
stakeholders.”
Parties interested in learning more about CleanSpark products
and services are encouraged to inquire by contacting the Company
directly at info@cleanspark.com or visiting the Company’s website
at www.cleanspark.com.
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the
business of providing advanced software, controls, and technology
solutions to solve modern energy challenges. CleanSpark has a suite
of software solutions that provides end-to-end microgrid energy
modeling, energy market communications, and energy management
solutions. CleanSpark's offerings consist of intelligent energy
monitoring and controls, intelligent microgrid design software,
middleware communications protocols for the energy industry, energy
system engineering, custom hardware solutions, microgrid
installation and implementation services, traditional data center
services and software consulting services.
The Company and its subsidiaries also own and operate a fleet of
Bitcoin miners at its facility outside
of Atlanta, Georgia.
For more information about the Company, please visit the
Company's website at
https://www.cleanspark.com/investor-relations.
Forward-Looking Statements:
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's plans and expectations for
expansion of its energy initiatives, deployment of miners, the
growth of the facility and other statements regarding the
expectations, beliefs, plans, intentions, and strategies of the
Company. The Company has tried to identify these forward-looking
statements by using words such as "expect," "target," "anticipate,"
"believe," "could," "should," "estimate," "intend," "may," "will,"
"plan," "goal" and similar terms and phrases, but such words, terms
and phrases are not the exclusive means of identifying such
statements. Actual results, performance and achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation: delays in
equipment and battery energy storage systems availability and
delivery, the successful deployment of energy solutions for
residential and commercial applications, the fitness of the
Company's energy hardware, software and other solutions for this
particular application or market, the expectations of future
revenue growth may not be realized, ongoing demand for the
Company's software products and related services, the impact of
global pandemics (including COVID-19) on the demand for our
products and services; and other risks described in the Company's
prior press releases and in its filings with the Securities and
Exchange Commission (SEC), including under the heading "Risk
Factors" in the Company's Annual Report on Form 10-K and any
subsequent filings with the SEC. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof, and we undertake no obligation to
revise or update this press release (including any forward-looking
statements contained herein) to reflect events or circumstances
after the date hereof.
Investor Relations
CleanSpark, Inc.
(801)-244-4405
ir@cleanspark.com
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