SALT LAKE CITY, Sept. 27, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"),
a sustainable bitcoin mining and diversified energy company,
and Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of
Digital Currency Group, Inc. ("DCG") focused on digital asset
mining and staking, jointly announced that CleanSpark has
transitioned all of its bitcoin mining power to Foundry
USA Pool.
CleanSpark adds over one exahash of sustainable Bitcoin mining
power to the Foundry USA mining
pool.
CleanSpark has now added computing power of more than one
exahash, generated by over 10,000 latest-generation bitcoin mining
machines, to the Foundry USA Pool.
The Company plans to continue to deploy machines to reach its
goal of 2 EH/s by the end of 2021 and 3.2 EH/s by fall 2022.
Mining pools are an important component of the bitcoin ecosystem
because they allow miners to combine their mining power and
increase the frequency as well as probability of earning bitcoins.
Backed by its parent company DCG, Foundry USA Pool is the first North American
cryptocurrency mining pool that pays its users through the
Full-Pay-Per-Share ("FPPS") payout method without relying on an
external party, guaranteeing stable, risk-free payouts.
"Mining pools historically have not been as transparent in the
way they calculate their miners' earnings," said Bernardo Schucman,
senior vice president of mining for CleanSpark. "Foundry
USA Pool is an exception, however.
Being an American mining pool with transparent and compliant
methods, it provides all stakeholders with full disclosure of their
earnings."
CleanSpark's decision to direct all of its bitcoin mining
computing power to Foundry's US-based pool is also a step towards
greater decentralization of the mining pool landscape, which
experts like Schucman say is good for the overall health of the
bitcoin network.
"Our relationship with Foundry is meaningful for our continued
growth and productivity," said Zach
Bradford, CleanSpark's CEO and President. "We will continue
to pool our hashrate with Foundry as more of our machines are
deployed in the coming months because we share a commitment to
empowering decentralized networks."
Foundry USA Pool is focused on
institutional mining businesses and is seamlessly integrated with
DCG-owned cryptocurrency prime broker Genesis to provide
institutional customers with various treasury management services,
including high-security custody, Bitcoin collateralized lending,
yield earnings on bitcoin holdings, derivative products and
seamless liquidation. The pool's other major customers include Bit
Digital, BitDeer, Bitfarms, Core Scientific, Greenidge, HIVE, Hut 8
and Foundry itself, among others.
"We are excited to have publicly traded companies such as
CleanSpark join Foundry USA Pool,
which is designed to provide its customers with institutional
standards of transparency, compliance and services," said
Mike Colyer, Foundry's CEO.
About CleanSpark
CleanSpark, Inc.,
a Nevada corporation, is an energy technology and clean
bitcoin mining Company that is focused on solving modern energy
challenges. For more information about the Company, please
visit the Company's website
at https://www.cleanspark.com/investor-relations .
About Foundry Digital LLC
A subsidiary of DCG, Foundry
Digital LLC is a financing and advisory company focused on digital
asset mining and staking. With the mission of empowering
decentralized infrastructure for a digital world, Foundry provides
North American digital asset mining businesses with capital and
intelligence. Foundry is based in Rochester, NY. For more information, please
visit foundrydigital.com
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, operating results, business
strategy, partnership with Coinmint, deployment of miners, digital
currency mining activities, the growth of its facilities 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: 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 success of its digital
currency mining activities; 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
Contact:
Matt Schultz (CleanSpark)
ir@cleanspark.com
|
Media
Contacts:
Isaac Holyoak (CleanSpark)
pr@cleanspark.com
|
Nishant Sharma
foundry@blocksbridge.com
BlocksBridge Consulting (Foundry)
|
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SOURCE CleanSpark, Inc.