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CleanSpark | 425: Filing under Securities Act Rule 425 of certain prospectuses and communications in connection with business combination transactions

SEC ·  Aug 1 21:31

Summary by Futu AI

On August 1, 2024, CleanSpark, Inc., a prominent player in the Bitcoin mining industry, announced the completion of its acquisition of a Bitcoin mining site in Wyoming, marking a significant expansion of its operations. The newly acquired site, which boasts a 30 MW power capacity, is expected to contribute over 2 exahashes per second to CleanSpark's hashrate in 2024. This site in Cheyenne will operate as a fully immersion-cooled data center, the second in CleanSpark's portfolio. The company has also secured 75 MW of power contracts and is planning an immediate start to groundbreaking, with operations anticipated to commence before the end of 2024. CleanSpark plans to deploy the latest S21 immersion XPs, the most advanced Bitcoin mining machines available. Additionally, CleanSpark is working on...Show More
On August 1, 2024, CleanSpark, Inc., a prominent player in the Bitcoin mining industry, announced the completion of its acquisition of a Bitcoin mining site in Wyoming, marking a significant expansion of its operations. The newly acquired site, which boasts a 30 MW power capacity, is expected to contribute over 2 exahashes per second to CleanSpark's hashrate in 2024. This site in Cheyenne will operate as a fully immersion-cooled data center, the second in CleanSpark's portfolio. The company has also secured 75 MW of power contracts and is planning an immediate start to groundbreaking, with operations anticipated to commence before the end of 2024. CleanSpark plans to deploy the latest S21 immersion XPs, the most advanced Bitcoin mining machines available. Additionally, CleanSpark is working on expanding power at the Wyoming site to increase capacity and is progressing on acquiring a second site, which is expected to add 45 MW and 3 EH/s to the company's hashrate. This expansion into Wyoming, which will be the third state in CleanSpark's owned-and-operated Bitcoin mining portfolio, aligns with the state's supportive stance towards the industry, as evidenced by the University of Wyoming's Bitcoin Research Institute and legislative initiatives. CleanSpark's CEO, Zach Bradford, expressed enthusiasm for the company's growth in Wyoming. CleanSpark, known as America's Bitcoin Miner®, operates multiple data centers primarily powered by low-carbon energy sources, supporting the Bitcoin network and advocating for financial independence and inclusion.

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