CleanSpark Inc (CLSK)

[BillyBahama]

CleanSpark, Inc. (OTC: CLSK), a microgrid and custom electrical equipment company with advanced engineering, software and controls for innovative distributed energy resource management systems, today provided an update on its customer electrical equipment division.

Since the closing of the definitive agreement on January 22, 2019 to acquire the intellectual property of Pioneer Critical Power Inc ("PCPI") through the date of this release, CleanSpark has delivered approximately $357,000 in custom electrical equipment to customers and received new orders of approximately $438,000. In addition, the Company's custom equipment backlog has increased to approximately $3.9 million, an increase of approximately 8.3% from the backlog levels on the date of acquisition, and anticipates delivery of the back-log orders to occur over the next two quarters of calendar year 2019.

Zachary Bradford, CleanSpark's President and Chief Financial Officers, said, "These orders represent the ongoing demand for critical power systems that provide reliable, intelligent power to increasingly complex energy solutions. Our sales team is continuing to identify opportunities as we expand into this market segment. We anticipate reporting on new opportunities and further increases in our backlog in the upcoming quarter. CleanSpark's ability to provide highly customized power distribution solutions to our customers at competitive costs further enhances our shareholder value in the growing distributed energy market."

https://www.prnewswire.com/news-releases/cleanspark-announces-increases-in-new-orders-and-backlog-driven-by-recent-ip-acquisition-300818237.html