CleanSpark Inc (CLSK)

[Nealio]

Looks like a good buying opp is coming up very soon! I rode this one from 1.80 or so to 12-14 a while back.
Is there any issue I may not be aware of currently that would keep the price from bouncing back in the short-term? where does dilution stand? I see there is an earnings call today, anyone know the expectation for when they will turn a profit?
Has the new bitcoin mining biz, put that even further back (when they will be profitable)? Or has it moved it up??
I like the tech here a lot, and i"m an engineer and understand most of it. The bitcoin stuff, I'm not so sure if it was a great move...anyone can explain where that stands?
Thanks!
Nealio

[pcjockey]

CleanSpark Unveils New Brand Identity to Unify its Business Segments

New ‘look and feel’ unifies the company’s business segments—sustainable bitcoin mining and renewable energy technology

November 30, 2021 09:00 ET | Source: CleanSpark, Inc.

SALT LAKE CITY, Nov. 30, 2021 (GLOBE NEWSWIRE) -- CleanSpark Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and energy technology company, today unveiled a new logo, including a new wordmark and icon, and a new website. The new brand identity reflects the Company’s strategic focus on sustainable bitcoin mining using the Company’s background in energy technology.

As CleanSpark continues to expand capacity across its portfolio of mining facilities, the unique advantages of having a background in energy technology and management is becoming increasingly valuable: CleanSpark is developing some of the most efficient mining operations in the industry.

CleanSpark’s new brand identity reflects the competitive advantage of the Company while also emphasizing the Company’s brand as approachable, adaptable and trustworthy for shareholders and customers.

The new icon of a star-within-a-star distills the CleanSpark star into an easily recognizable symbol that reflects who the Company is at its core: a business with global reach that unites its two business segments—sustainable bitcoin mining and energy technology.

“Mining Bitcoin has become an increasingly important business segment for CleanSpark. We leverage our deep energy background to make our operation sustainable, which is important given how energy-intensive this industry is—so we wanted our updated brand to reflect that,” said Matthew Schultz, CleanSpark’s executive chairman. “I'm very proud of our in-house design team, who did a spectacular job of understanding and then depicting what we stand for.”

Danielle Nazareno, director of design, brought over a decade of experience designing for new and emerging brands to create the new logo.

“Refreshing our brand aligns our public image with the work we do, how we see ourselves, and how we want others to see us,” said Danielle.

CleanSpark’s new website is now live at www.cleanspark.com while its new brand commercial can be viewed at www.youtube.com/watch?v=DzDI8njXATA.

About CleanSpark

CleanSpark, Inc., a Nevada corporation, is a sustainable bitcoin mining and energy technology company that is solving modern energy challenges. 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, operating results, business strategy, 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 logistics and shipping and 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
[e-mail]

Media Contacts:
Isaac Holyoak
[e-mail]

BlocksBridge Consulting
Nishant Sharma
[e-mail]

[conix]

Bitcoin Miner CleanSpark Buys New Machines to Take Advantage of Spot Market Prices

The purchase of 2,597 new Antminer S19 mining computers will increase CleanSpark’s hashrate by almost 20%.

By Aoyon Ashraf
Nov 19, 2021

CleanSpark (CLSK) said it has purchased 2,597 more Antminer S19 computers in order to capitalize on favorable bitcoin spot prices.

The new machines will be delivered “immediately,” adding to the mining company’s 2,711 rigs that have already been purchased and scheduled for delivery this month, the company said in a statement.
“We continue to take advantage of favorable pricing in the spot market to purchase machines as opportunities present themselves, rather than locking up capital for long periods of time, while we use the standard strategy of future delivery contracts,” said Zach Bradford, CEO and President.
The new machines will increase the company’s hashrate, or computing power, from 1.3 exahash per second (EH/s) to nearly 1.6 EH/s, or about 20%.
The total hashrate of the Bitcoin network is about 162 EH/s as of Nov. 18, according to data analytics firm Glassnode, making CleanSpark’s mining power about 1% of the total network.

[pcjockey]

CleanSpark Inc (CLSK)
@CleanSpark_Inc

We just purchased 2,597?Antminer S19 #bitcoinmining machines, in addition to 2,711 already being delivered this month. This will increase our current hashrate of 1.3 EH/S. #CLSK converts some of our BTC holdings to fund operations & expansion. Read more: https://bit.ly/3kRZpAV

[rayank]

In today

[pcjockey]

Have been in an out of this for a couple years now. But my last buy was earlier this year when crypto crashed and CLSK was trading in the 10s. Wish I had bought more at that time. lol

[pappi]

Bought in yesterday, just before the firm's post. Interesting infra-crypto firm, it seems.

-p

[pcjockey]

Dear Fellow CleanSpark Stakeholders,

I’m occasionally asked—OK, more than occasionally—why would we, as an energy technology business, get into the digital currency mining business? Since it’s such a frequent topic, I want to focus the first of these stakeholder updates on this question.

(Starting today you’ll receive a stakeholder update every other month. Please feel free to share them with your colleagues and others who may be interested in the work we are doing at CleanSpark).

As you know, CleanSpark’s vision since day one has been to facilitate abundant, affordable, clean energy. Our microgrid services and technologies continue to lead these efforts. Our innovative systems make energy generation and storage more efficient. They cut down on power costs and reduce energy waste.

It just so happens that Bitcoin mining is an industry
ripe for CleanSpark’s innovation.

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. As the United States and the world respond to a changing climate by moving to renewable, clean energy sources, it will put pressure on American energy infrastructure. This is where the relationship between decentralized energy and decentralized currency starts to shine.

Digital currency mining is so profitable that it incentivizes investment into renewable and distributed energy.

For those of you who have been with us for a long time, our move into the world of bitcoin mining is exciting and new. We firmly believe that it is not only extraordinarily profitable for our shareholders, but that it also contributes to the vision you signed up for: a company that is changing the future of energy management by making it sustainable, clean, and abundant.

I hope you continue to find CleanSpark’s pragmatic, non-ideological approach to leaving this planet better for our children and grandchildren inspiring. Bitcoin mining and the decentralized systems it empowers are an incredible vehicle for realizing CleanSpark’s true potential.

Sincerely,

Matthew Schultz
Executive Chairman
CleanSpark Board of Directors

[pcjockey]

CleanSpark wants to make bitcoin mining sustainable

https://www.utahbusiness.com/bitcoin-mining-rigs-in-utah/?utm_content=183838992&utm_medium=social&utm_source=facebook&hss_channel=fbp-992816290744756&fbclid=IwAR2d1m-dhC-Nms0SXncZYIGwxqEPSUopiD_tceA1_8hXOQZ-doERRH8Yqss

[pcjockey]

CleanSpark Uses Bitcoin to Fund 4,500 Newest Generation Miners
October 12 2021 - 09:00AM


SALT LAKE CITY, Oct. 12, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a sustainable bitcoin mining and diversified energy company, today announced its purchase of 4,500 units of the Antminer S19 bitcoin (BTC) mining machine. The purchase was partially funded through a portion of the Company's BTC holdings. Delivery of the machines are scheduled to start next month and be completed by July 2022.

CleanSpark estimates that its sustainable bitcoin mining capacity will increase by a computing power of 450 PH/s, equivalent to almost 45% of the Company's current capacity, after the purchased machines are fully operational.

The Company expects to have the data center space for the machines ready to plug and play before each consecutive delivery. The Company currently operates over 10,000 miners. The total number of miners slated for delivery over the next 12 months is now 24,580.

In line with the interests of its shareholders, by selling some of its bitcoin, CleanSpark is converting a portion of its BTC holdings into bitcoin miners to increase revenues. CleanSpark believes that the value of digital currencies such as Bitcoin stems from their usefulness as a medium of exchange. By investing a portion of its mined bitcoins to buy additional miners, the Company aims to put those bitcoins back into circulation. The Company also intends to continue its holding strategy.

"By making a conscious effort to reinvest in additional production, we are taking a market-based approach to our mining operations and maximizing value for our shareholders. We understand that using our bitcoin to support our operations and expansion is a paradigm shift for the digital currency mining industry in North America," said Zach Bradford, CEO of CleanSpark. "We hope to continue to lead the market with these bold moves."

Earlier in August, CleanSpark announced the purchase of a former Sprint/Nextel datacenter in Norcross, Georgia, to start a new mining operation that is expected to be 100% net carbon-neutral, achieved by participating in Georgia's Simple Solar program.

CleanSpark directly owns and operates facilities in Norcross and College Park, Georgia, that will bring a combined 65MW with a focus on clean and sustainable energy as it keeps ESG at the forefront of all its efforts.

[pcjockey]

Item 1.01 Entry into a Material Definitive Agreement.

Effective October 1, 2021, CleanSpark, Inc., a Nevada corporation, through its subsidiary CleanBlok Inc. (collectively, the “Company”) entered into agreements (the “Agreements”) with Georgia Power Company (“Georgia Power”), which Agreements set forth the terms and conditions that govern Georgia Power’s provision of electrical services (the “Services”) to the Company’s facilities in Norcross, Georgia. The Agreements have an initial term of five years, after which they shall remain in effect until terminated by either party. During the term of the Agreements, the Company shall make monthly payments to Georgia Power in exchange for the Services. The Company is on the Georgia Power Real Time Pricing (“RTP”) rate, where a portion of the usage is priced hourly and another portion is billed at a conventional rate.

Pursuant to the Agreements, the Company shall be entitled to purchase power from Georgia Power at the RTP rate in exchange for the Company’s agreement to purchase a minimum amount of power every month and to limit power usage during certain periods of peak use.

In addition, the Company agreed to pay Georgia Power a one-time fee of approximately $2.0 million to install certain excess facilities on the property.

The foregoing description of the Agreements does not purport to be complete, and is qualified in its entirety by reference to the complete text of such Agreements, copies of which will be filed as exhibits to the Company’s next periodic report.

[pcjockey]

I'll have to look. I bought all the shares I have around $10, so I don't watch it much.

[chestnut42]

It's more than that. If you read the Q from 8/16 There is an AMT for up to 500,000,000 that is open right now. As of June 3 If I remember correctly

[pcjockey]

From their 9/17 8K

Proposal No. 4: To approve an amendment to the Company’s 2017 Plan to (i) increase the number of shares authorized for issuance thereunder from 1,500,000 shares to 3,500,000 shares of common stock of the Company and (ii) revise Section 19 of the 2017 Plan to more closely align with the provisions of Section 422 of the Internal Revenue Code of 1986, as amended, and Section 17.2 of the 2017 Plan, pursuant to the terms and conditions of the 2017 Plan.


It was approved by vote.

Still, when you compare it to companies with billions of shares in their AS/OS, 3.5M is a drop n the bucket.

[chestnut42]

This is looking to be a good BTC miner investment. I want to open a position but with only 22M cash on hand, it looks like a future dilution is coming. What's everyone else thoughts on dilution. The plans they have for Georgia, the money has to come from somewhere

[pcjockey]

They still have the microgrid side of the business.

I assume that the tech/software side slowed down last year due to COVID, so they started mining bitcoin to keep revenue flowing. I haven't heard definitively that happened, but I think it's a good theory.

And now they combine the two ostensibly ameliorating one of the main concerns of bitcoin mining - energy usage.

[tcfib]

Are these guys still in the micro grid business? Or did they do a full pivot to Bitcoin?

[pcjockey]

Bitcoin Valuation Update: What is the Market Missing?
CleanSpark, Inc. (NASDAQ: CLSK)
30 August 2021

Key Points

• Management believes CleanSpark is currently trading at a steep discount to bitcoin mining comparables (2.2x forward revenue vs. 5.7x industry average). Bitcoin is a commodity, yet CleanSpark is not getting credit for its mining operation that is profitable at price levels above ~$6,000 per bitcoin and contributes ~85% margins to CleanSpark’s bottom-line.

• The company believes the disconnect lies in the legacy energy business that receives a lower multiple than pure play bitcoin miners due to its much lower ~15% margins and slower growth rate.

• CleanSpark believes it has a competitive moat compared to other bitcoin miners as it owns ~85% of its production capacity compared to peers who mainly rely on third-party data centers.

• The use of “outsourced” data centers reduces mining margins and creates additional risks as any downtime equates to lost bitcoin, plus CleanSpark retains the real estate value, which could increase over time as demand grows from exited Chinese miners getting their rigs back online in the US.

• CleanSpark also controls its own power supply with 50 MW of capacity secured and energy prices below 2.85 cents per kWh. Furthermore, the company mines with ~95% low-carbon energy today, unlike most miners, and is focused on getting to 100% low-carbon energy.

• As of August 17, 2021, CleanSpark’s hashrate capacity exceeded 820 PH/s or 6-7 bitcoins per day, an increase of ~100% from 46 days ago.

• Management expects bitcoin mining revenue to contribute $38-48 million in FY21. With an FY22 production target of 3.2 EH/s, annualized bitcoin mining revenue could exceed $325 million, assuming the production of 25-28 bitcoins per day and a price of $35,000+ per bitcoin.

Our prior content on CLSK can be accessed HERE.

[pcjockey]

I tend to think the numbers show a 2020 hangover when everything was stove up due to the virus. But, you're right. The microgrid side of the business was their bread and butter until they started mining bitcoin.

[zone]

Yes you're right, based on the price of bitcoin. But I am concerned about the micro grid side of the business where we only have $5 million in sales for nine months this year and we did a total of $10 million last year. To think we may sell less this year than last year in the micro grid business, with the fact that executive compensation is way out of balance. Now is not the time to be so concerned about executive compensation but growing this business. The side of the business that's growing the most obviously is a bitcoin side and we all had a part of that when they made the stock offering to raise the money all the investor shares were diluted somewhat in the hopes of growing revenue everyone was willing to do it otherwise they would've sold but now executives are looking to increase their bonuses this is not the time for that!

[adaschu]

This stock will bounce back like a rocket ship sooner or later, Bitcoin is only gonna go up.

[pcjockey]

Well, this sucks.

[pcjockey]

Bitcoin Treasuries

https://www.buybitcoinworldwide.com/treasuries/

[pcjockey]

As long at BTC keeps going up...

[pcjockey]

CleanSpark Acquires Second Data Center to Increase Bitcoin Mining Capacity

SALT LAKE CITY, Aug. 10, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a clean Bitcoin mining and diversified software and services company, today announced that it has closed on its acquisition of an additional nearly 87,000 square foot data center in Norcross, Georgia, to substantially increase the Company's Bitcoin mining operation.

The $6.55M purchase of the former Sprint/Nextel data center situated on over 7 acres in Norcross, Georgia closed on August 6, 2021. The facility, located 33 miles from the current ATLData Center and CleanBlok operations in Atlanta, will provide 20 MW of additional power to CleanSpark's mining business with the opportunity for significant expansion. The Company expects to complete the installation of the mining infrastructure and have the miners running by late 2021.

The new facility's mining operations are expected to operate at 100% net carbon-neutral, achieved through its participation in Georgia's Simple Solar program. The program allows CleanSpark to offset any carbon-based energy included in the regional energy mix with solar power. The Company also anticipates adding onsite renewables, including rooftop and ground mount solar and other microgrid energy solutions.

CleanSpark President and CEO Zach Bradford said, "This facility, with its 20 MW of power, will allow us to put over 6,000 additional S19s into operation. It is expected to produce over 650 PH/s upon installation. Based on current difficulty rates, this processing power would result in an additional 5 to 6 bitcoins per day. This, along with our other initiatives, is expected to result in 2.0 EH/s by the end of 2021, which, at current difficulty rates would result in 17 to 18 bitcoin per day."

Bradford continued, "We have been working on a number of opportunities to increase our Bitcoin production capabilities, including energy expansion in Atlanta, our partnership with Coinmint, and now the purchase of this facility to increase the total energy capacity in our portfolio. We have over 23,500 S19 ASICS miners that will be delivered over the coming year—planning for responsible energy expansion has been paramount. Our focus on ESG has been at the forefront of all our efforts and we expect to lead sustainable practices in the industry. CleanSpark now directly owns and operates facilities that will bring a combined 70MW of 95%-plus carbon-free energy capacity, with the ability to further expand."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [e-mail] or visiting the Company's website at www.cleanspark.com.

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 .

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.

Contacts:
Investor Relations:
CleanSpark, Inc.
Investor Relations
[phone]

Press:
Trish DaCosta
KCD PR
[e-mail]

[Fat Thor]

Gotta be close to a reversal here...

[Dapper1]

Great, thanks.

[pcjockey]

CleanSpark Inc (CLSK)
@CleanSpark_Inc

#CLSK made history in July by achieving our single largest revenue month & we're excited to share updates to our strategic #Bitcoin & #energy initiatives. More info here: https://bit.ly/2VlZRh9 #SustainableMining #Crypto #Microgrids #EnergyControls #CleanEnergy

[pcjockey]

CleanBlok, the Company's Bitcoin mining division, now has over 7,500 of the latest generation mining units deployed with a hashrate capacity of over 740 PH/s, currently producing approximately 6 Bitcoin per day at today's difficulty rates. Another 1,670 units, capable of producing approximately 148 PH/s or approximately 1.4 Bitcoin per day, have just been received and are expected to be installed this month.

[350z]

Amazon to accept https://www.fxstreet.com/cryptocurrencies/news/amazon-to-accept-bitcoin-as-payment-by-the-end-of-2021-ethereum-and-cardano-next-in-line-202107260206Bitcoin!!!

[pcjockey]

Due to their BTC mining ops, the stock price has been following Bitcoin's price.

[tsmg]

Why is CLSK in a downtrend last 3 days?

ts78mg

[Dapper1]

Does anyone know many S19 Pro's CLSK has in full operation? Thx

[350z]

https://www.msn.com/en-us/money/companies/elon-musk-says-tesla-to-accept-bitcoin-transactions-again-if-enough-clean-energy-usage-confirmed/ar-AAL0yHa?ocid=msedgdhp&pc=U531

[pcjockey]

8-K filed

Item 1.01 Entry into a Material Definitive Agreement.

On June 3, 2021, CleanSpark, Inc., a Nevada corporation (the “Company”), entered into an At The Market Offering Agreement (the “Agreement”) with H.C. Wainwright & Co., LLC (the “Agent”), to create an at-the-market equity program under which the Company may, from time to time, offer and sell shares of its common stock, par value $0.001 per share, having an aggregate gross offering price of up to $500,000,000 (the “Shares”) to or through the Agent (the “ATM Offering”).

Any Shares sold to or through the Agent will be issued pursuant to a prospectus dated March 15, 2021 and a prospectus supplement dated June 3, 2021 filed with the Securities and Exchange Commission (the “Prospectus Supplement”), in connection with one or more offerings of the Shares pursuant to the Prospectus Supplement. Subject to the terms and conditions of the Agreement, the Agent will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations to sell the Shares from time to time, based upon the Company’s instructions. Sales of the Shares, if any, under the Agreement may be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Act”), including sales made by means of ordinary brokers’ transactions (including directly on the Nasdaq Capital Market), at market prices or as otherwise agreed between the Company and the Agent. The Agent is not under any obligation to purchase any of the Shares on a principal basis pursuant to the Agreement, except as otherwise agreed by the Agent and the Company in writing pursuant to a separate terms agreement. The Company has no obligation to sell any of the Shares and may at any time suspend offers under the Agreement or terminate the Agreement.

The Company has provided the Agent with customary indemnification rights, and the Agent will be entitled to a commission at a fixed commission rate equal to 3.0% of the gross sales price of any Shares sold in the ATM Offering. The Company is making certain customary representations, warranties, and covenants in the Agreement and has also agreed to indemnify the Agent against certain liabilities, including liabilities under the Act. The Agreement is not intended to provide any other factual information about the Company. The representations, warranties, and covenants contained in the Agreement are made only for purposes of the Agreement, including the allocation of risk between the parties thereto and as of specific dates, are solely for the benefit of the parties to the Agreement, and may be subject to limitations agreed upon by the parties thereto, including being qualified by confidential disclosures exchanged between the parties in connection with the execution of the Agreement.

From time to time, the Agent and its affiliates have provided, and may provide in the future, various advisory, investment and commercial banking and other services to the Company in the ordinary course of business, for which it has received and may continue to receive customary fees and commissions.

The description of the Agreement set forth above in this Item 1.01 does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached to this Current Report on Form 8-K (“Current Report”) as Exhibit 10.1 and is incorporated by reference herein.

A copy of the opinion of Procopio, Cory, Hargreaves & Savitch LLP, the Company’s counsel, regarding the validity of the Shares that may be offered and sold pursuant to the Agreement and Prospectus Supplement is also filed herewith as Exhibit 5.1 and is incorporated by reference herein.

This Current Report shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

[pcjockey]

Pioneer Power Introduces PowerBloc in Response to Industry Demand
June 02 2021 - 08:00AM
Business Wire

Extends and Expands Relationship with CleanSpark;
Declares One-Time Special Cash Dividend of $0.12 per Common Share

Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it has extended and expanded its agreement with CleanSpark, Inc. (Nasdaq: CLSK) (“CleanSpark”).

The Company also announced that it has launched a new integrated power systems solution, PowerBloc1, to address customer needs in the rapidly growing electric vehicle (“EV”) charging infrastructure market.

In addition, the Company’s Board of Directors has declared a one-time special cash dividend of $0.12 per common share. The special dividend will result in an aggregate distribution slightly exceeding $1 million based on the current number of shares outstanding.

Extends and Expands Distribution Agreement with CleanSpark

The Company signed a Distribution Agreement with CleanSpark, a diversified energy software, services and clean bitcoin mining company, that extends and expands the relationship between the two companies beyond their original agreement to the end of 2023. As part of this new agreement, Pioneer Power has expanded rights to use CleanSpark’s proprietary software, mPulse and GridFabric OpenADR solution and bundle it with PowerBloc, Pioneer’s integrated charging and power solution for EV infrastructure. In addition, CleanSpark received expanded rights to serve as a preferred distributor of PowerBloc.

Introduces PowerBloc, a Customizable ‘Grid-on-a-Skid’

The introduction of PowerBloc, which is supported by further investment in product dedicated sales and engineering talent, marks a strategic pivot for the future direction of Pioneer Power. PowerBloc is a solution engineered in response to increasing requests by EV infrastructure providers for a rapidly deployable, and customized product.

In addition, PowerBloc provides future adaptability to an EV charging site allowing for easy connection of on-site solar, wind, peak shaving or back-up generation.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, “We are pursuing this new market opportunity with EV charging as a direct response to requests from EV charging equipment and service providers. Many large electric vehicle infrastructure projects require equipment and engineering knowledge to manage the scale and complexity of their power requirements. Our decades of experience designing, integrating, and managing highly engineered power solutions enabled us to develop PowerBloc, our ‘Grid-on-a-Skid,’ as a direct response to the power challenges of the EV charging market.”

Dividend Declared

On June 1, 2021, the Company’s Board of Directors declared a one-time special cash dividend of $0.12 per common share. The dividend will be paid on July 7, 2021 to shareholders of record as of June 22, 2021. The dividend will be funded with surplus cash on the Company’s balance sheet.

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.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. More information at www.cleanspark.com.

Safe Harbor Statement:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company’s operating results, (iv) the fact that many of the Company’s competitors are better established and have significantly greater resources than the Company, (v) the Company’s dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company’s ability to realize revenue reported in the Company’s backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company’s chairman, who controls a majority of the Company’s voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company’s common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

1 Trademark Pending

View source version on businesswire.com: https://www.businesswire.com/news/home/20210602005346/en/

Brett Maas, Managing Partner
Hayden IR
[phone]
[e-mail]

[Liam859]

Beautiful! Accumulating more here at $16

[pcjockey]

CleanSpark Finalizes Purchase of ATL Data Center Real Estate
May 26 2021 - 09:30AM
GlobeNewswire Inc.

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 [e-mail] 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.

[pcjockey]

Best to you. I actually got back in when it looked like bottom. We'll see where it goes. I think it's affected in part by the BTC crash which would make sense with their mining side of the biz. Tough thing to hook your financial chariot to, but I hope crypto stabilizes soon.

[adaschu]

The second I jump out it will go to the moon, I’m going down with the ship.

[pcjockey]

This stock is a dumpster fire lately. I'm out.

[pcjockey]

CleanSpark, Inc. Reports Quarterly Financial Results for the Quarter Ended March 31, 2021

CleanSpark Achieves Profitability
Three-month revenue increased 122% to $8.1 million from one year ago quarter
Six-month revenue increased 124% to $10.4 million from one year ago period

PR Newswire

SALT LAKE CITY , May 6, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), an advanced software and controls technology solutions company, focused on solving modern energy challenges, today reported results for the three and six months ended March 31, 2021 .

The Company's Quarterly Report on Form 10-Q and accompanying unaudited interim financial statements are available at www.sec.gov and the Company website at https://ir.cleanspark.com/sec-filings/ .

As previously announced, the Company will be holding its second quarter 2021 live virtual earnings presentation and business update for investors and analysts on May 7, 2021 at 8 a.m. PST / 11 a.m. EST .

To participate in our virtual meeting, please visit: https://globalmeet.webcasts.com/starthere.jsp?ei=1408452&tp_key=56b26c1000

This URL can be used to access the live event or to watch the recorded version. A transcription of the event will be available on our website after the event.

Financial Highlights

Three months ended March 31, 2021

CleanSpark more than doubled its comparable quarterly revenues, with three-month revenues of $8.1 million , an increase of $4.4 million or 122% from $3.6 million for the same prior year period.
Net income for the three months ended March 31, 2021 was $7.4 million or $0.28 basic earnings per share and $0.22 fully-diluted earnings per share compared to a loss of $(5.8) million or $(1.13) basic and diluted earnings per share for the same prior year period, an improvement of $1.41 basic earnings per share and $1.35 fully-diluted earnings per share.
Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net income for the three months ended March 31, 2021 of $1.7 million or $0.06 basic earnings per share and $0.05 fully-diluted earnings per share, compared to a loss of $(1.3) million or $(0.26) basic and diluted earnings per share for the same prior year period, an improvement of $0.32 basic earnings per share and $0.31 fully-diluted earnings per share.

Six months ended March 31, 2021

CleanSpark more than doubled its comparable six-month revenues, with six-month revenues of $10.4 million , an increase of $5.7 million or 124% from $4.6 million for the same prior year period.
Net income for the six months ended March 31, 2021 was $0.2 million or $0.00 basic earnings per share and $0.00 fully-diluted earnings per share compared to a loss of $(7.7) million or $(1.56) basic and diluted earnings per share for the same prior year period, an improvement of $1.56 basic earnings per share and $1.56 fully-diluted earnings per share.
Adjusted EBITDA, a non-GAAP term, resulted in a non-GAAP net income for the six months ended March 31, 2021 of $1.0 million or $0.04 basic earnings per share and $0.03 fully-diluted earnings per share, compared to a loss of $(2.95) million or $(0.60) basic and diluted earnings per share for the same prior year period, an improvement of $0.64 basic earnings per share and $0.63 fully-diluted earnings per share.

Bitcoin Mining Production

In the quarter ended March 31, 2021, the Company produced more than 144 Bitcoins, and has produced an aggregate of 241 Bitcoins since acquiring its mining operations on December 10, 2021 through May 4, 2021 .

Balance Sheet Highlights as of March 31, 2021

Assets:

Cash: $157.2 Million
Digital Currency: $5.7 Million , or 115.2 Bitcoin
Total Current assets: $178.5 Million
Total Assets: $292.6 Million

Liabilities and Stockholders' equity:

Current Liabilities: $7.3 Million
Total Liabilities: $8.9 Million
Total Stockholders' Equity: $283.7 Million

Working capital

We had working capital of $171.1 million as of March 31, 2021 compared to $2.9 million as of September 30, 2020 , an increase of $168.2 million .

Operational Highlights - Quarter ended March 31, 2021

In March 2021 , the Company closed an underwritten public offering and received gross proceeds of $200 million , before deducting underwriting expenses and fees. This has been a catalyst to create significant growth. We have focused a large portion of the capital to expand our Bitcoin mining operations along with supporting our expanded sales and marketing initiatives for our Energy business.
Our project to add 30MW of additional power to support additional CleanSpark Bitcoin mining operations is ongoing. Upon completion of the project, this will bring the total power available for mining and data centers for CleanSpark subsidiaries from 20MW to 50MW. The capacity increase is underway and is expected to be complete by summer 2021. In addition to the 30 MW of additional power to be delivered by the local utility, CleanSpark expects to subsequently add renewable energy generating assets and energy storage to the site, which will be operated by the Company's patented mPulse controls.
We have seen rapid growth in our Electric Vehicle (EV) charging initiative, and we now have 11 Companies that are using our OpenADR software solutions to aid in load management for EV charging stations and balancing the impact the increased power demand has on the traditional grid.
We implemented new sales and marketing initiatives resulting in increased sales and contracted backlog. Contracted backlog consists of executed and binding contracts that will result in future delivery of products and services. As of March 31, 2021 , our contracted backlog was $21.6 million . This backlog has continued to grow as we further expand our sales efforts and as of May 6, 2021 , our contracted backlog was $24.5 million .

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [e-mail] or visiting the Company's website at www.cleanspark.com .

Investors are encouraged to contact the Company at [e-mail] , or by visiting the Company's website.

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 .

Non-GAAP Financial Measures

Management believes that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the Company. The Company defines adjusted EBITDA as income (loss) attributable to common stockholders before interest, taxes, depreciation, amortization, impairment of long-lived assets, financing costs, stock-based compensation expense, other non-cash expenses, and expenses related to discontinued operations.

Adjusted EBITDA and Adjusted EPS is not a measurement of financial performance under generally accepted accounting principles in the United States , or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company's non-cash operating expenses, CleanSpark management believes that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between the Company's core business operating results and those of other companies, as well as providing the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time.

[pcjockey]

Bitcoin Mining Operations Leveraging Energy Savings to Drive Profits

https://www.watertowerresearch.com/content/bitcoin-mining-operations-leveraging-energy-savings-to-drive-profits/?fbclid=IwAR0YF5B_9MCeKdQ2-yZV4eEF6k1Raltcd_tqHCVJTf_mPcpPAAYHP33nbWE&utm_content=164404091&utm_medium=social&utm_source=twitter&hss_channel=tw-1248284401714094081

[pcjockey]

CleanSpark CEO to Present at H.C. Wainwright Cryptocurrency, Blockchain, and Fintech Conference on April 27, 2021

[pcjockey]

CleanSpark's microgrid contracts increase 220% to $16.2M

Normally news like this should cause a higher share price, yet CLSK drops. Live by BTC, die by BTC, I suppose.

[pcjockey]

CleanSpark Purchases 22,680 Additional Bitcoin Miners and Anticipates 3.2 EH/s Capacity After Deployment

News provided by
CleanSpark, Inc.

Apr 15, 2021, 09:25 ET

SALT LAKE CITY, April 15, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company" or "CleanSpark"), a diversified software, services, and Bitcoin mining company, today announced that it has secured multiple contracts for mining equipment.

The Company has now secured contracts for all of the equipment necessary for CleanSpark's mining operation to increase its Bitcoin mining capacity to meet its stated objective of a total hash rate capacity of more than 1.1 EH/s by summer of 2021. Additionally, CleanSpark has now secured a total of 22,680 S19j Pro and S19 Pro Antminers for future delivery under annual contracts. The Company contracted directly with Bitmain Technologies Ltd. for 7,200 Sj19 Pro Antminers and has executed two additional contracts with a premier cryptocurrency mining equipment dealer for a total of 15,480 S19j Pro and S19 Pro Antminers. These annual contracts are expected to provide an additional 2.23 EH/s in hash rate capacity. The units purchased under these contracts are expected to be delivered at an average rate of approximately 1,620 units per month over a 14-month period, with the first batch scheduled for delivery in August 2021. The Company expects that these new units will enable CleanSpark to increase its total mining production capacity to over 3.2 EH/s, following the delivery and deployment of all the equipment.

New Bitcoin Miners Give CleanSpark 3.2 EH/s Mining Capacity Following Deployment.

Zach Bradford, CleanSpark's Chief Executive Officer, stated, "We are pleased to announce that we have secured mining equipment for more than 1.1 EH/s of Bitcoin mining production capacity for deployment this summer, which is a significant milestone for the Company. Time is money in this industry, and we wanted to ensure that we have both our immediate needs covered but we also wanted to look to the future to ensure we had a reliable baseline supply of future miner deliveries secured to support our long-term growth. In addition to these orders, we will continue to source miners on a periodic basis to further increase or upgrade our total mining capacity. The miners we have secured are expected to allow us to increase our total mining capacity ten times by mid-2022. As part of our expansion plans, we are actively evaluating multiple locations for additional expansion with a focus on sites supplied by clean energy sources."

Recently, CleanSpark announced that the energy mix for its Atlanta location is 95% carbon free, sourced primarily from nuclear, hydroelectric, solar and other renewables. These emission calculations are before any of the planned solar, storage and other clean energy assets are added to the site. The Company aims to achieve carbon-neutrality from its current cryptocurrency operations in the near future.

Mr. Bradford commented, "We believe that being a good corporate citizen is imperative and will continue to focus on the Company's environmental impact at future sites. We are already mining at scale with a very small carbon footprint and expect to have approximately 45MW of 95% carbon free power dedicated to Bitcoin mining under management by summer 2021, with hopes to achieve 98% carbon free mining in the coming months."

Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [e-mail] 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, its goal to achieve carbon-neutrality, deployment of Bitcoin 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, the availability of clean energy sources, 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.

Contact - Investor Relations:
CleanSpark, Inc.
Investor Relations
(801)-244-4405

SOURCE CleanSpark, Inc.

[pcjockey]

Pioneer Power Reveals Burgeoning Backlog with New Order in Excess of $1 Million for Distributed Generation
April 14 2021 - 08:00AM
PR Newswire (US)

FORT LEE, N.J., April 14, 2021 /PRNewswire/ -- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it is increasing its product footprint with one of the world's largest mass-market retailers with a new equipment order valued at approximately $1.1 million.

The Company will integrate and support a custom turnkey system consisting of Automatic Transfer Switches, specialty controls and circuit protective equipment for an additional 15 retail store locations. The order, which was sold through the Company's channel partner CleanSpark, Inc. (Nasdaq: CLSK), is expected be delivered by year end 2021. The increase in the number of stores portends bigger and faster rollouts out to 2022 and beyond. Pioneer's products have already been installed at 40 of said retailers store locations.

The backlog of orders at the Company's Transmission & Distribution Solutions ("T&D Solutions") business segment increased approximately 34% from $7.6 million at March 31, 2020 compared to $10.2 million at March 31, 2021, most of which is expected to be delivered over the next 12 months.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, "This order directly follows the successful pilot and initial order for this end customer from earlier this year that is on schedule to be delivered over the next two quarters. Importantly, it reinforces our optimism for a record sales year for our T&D Solutions segment and the prospects for a nationwide rollout at additional store locations for this one retailer. As one of the leading retail enterprises increasingly adopts distributed generation, we see an expanding market as other retailers and enterprises follow."

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company's principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Safe Harbor Statement:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company's operating results, (iv) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (v) the Company's dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company's ability to realize revenue reported in the Company's backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company's chairman, who controls a majority of the Company's voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company's common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contact:
Brett Maas, Managing Partner
Hayden IR
[phone]
[e-mail]

[pcjockey]

Pioneer Power Reveals Burgeoning Backlog with New Order in Excess of $1 Million for Distributed Generation
April 14 2021 - 08:00AM
PR Newswire (US)

FORT LEE, N.J., April 14, 2021 /PRNewswire/ -- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, today announced that it is increasing its product footprint with one of the world's largest mass-market retailers with a new equipment order valued at approximately $1.1 million.

The Company will integrate and support a custom turnkey system consisting of Automatic Transfer Switches, specialty controls and circuit protective equipment for an additional 15 retail store locations. The order, which was sold through the Company's channel partner CleanSpark, Inc. (Nasdaq: CLSK), is expected be delivered by year end 2021. The increase in the number of stores portends bigger and faster rollouts out to 2022 and beyond. Pioneer's products have already been installed at 40 of said retailers store locations.

The backlog of orders at the Company's Transmission & Distribution Solutions ("T&D Solutions") business segment increased approximately 34% from $7.6 million at March 31, 2020 compared to $10.2 million at March 31, 2021, most of which is expected to be delivered over the next 12 months.

Nathan Mazurek, Pioneer Power's Chairman and Chief Executive Officer, said, "This order directly follows the successful pilot and initial order for this end customer from earlier this year that is on schedule to be delivered over the next two quarters. Importantly, it reinforces our optimism for a record sales year for our T&D Solutions segment and the prospects for a nationwide rollout at additional store locations for this one retailer. As one of the leading retail enterprises increasingly adopts distributed generation, we see an expanding market as other retailers and enterprises follow."

About Pioneer Power Solutions, Inc.

Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company's principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.

Safe Harbor Statement:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on demand for electrical equipment, (iii) the effects of fluctuations in the Company's operating results, (iv) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (v) the Company's dependence on a single customer for a large portion of its business, (vi) the potential loss or departure of key personnel, (vii) unanticipated increases in raw material prices or disruptions in supply, (viii) the Company's ability to realize revenue reported in the Company's backlog, (ix) future labor disputes, (x) changes in government regulations, (xi) the fact that the Company's chairman, who controls a majority of the Company's voting power, may develop interests that diverge from yours, (xii) the liquidity and trading volume of the Company's common stock and (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contact:
Brett Maas, Managing Partner
Hayden IR
[phone]
[e-mail]

[pcjockey]

Item 1.01 Entry into a Material Definitive Agreement.

On April 2, 2021 and April 6, 2021, CleanSpark, Inc., a Nevada corporation (the “Company”), entered into agreements (the “Agreements”) with a premier cryptocurrency mining equipment supplier (the “Supplier”), pursuant to which the Company purchased an aggregate of 700 mining servers (the “Equipment”). As compensation for the Equipment, the Company paid the Supplier an aggregate of $7,160,000. The Company currently expects to receive the Equipment in summer 2021, and plans to use the Equipment to expand its digital currency mining activities through its wholly-owned subsidiaries.

The foregoing description of the Agreements does not purport to be complete, and is qualified in its entirety by reference to the complete text of such Agreements, the forms of which will be filed as exhibits to the Company’s next periodic report.

[pcjockey]

FWIW... I misentered an order into the trading platform that ended up with me trying to short a few hundred shares of CLSK. That was not my intent, but it didn't go through saying that shares were unavailable to short.