CleanSpark, Inc. has responded to the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance regarding comments on its financial filings. The SEC's Office of Crypto Assets had previously issued comments on CleanSpark's Form 10-K for the fiscal year ended September 30, 2023, and Form 10-Q for the quarter ended March 31, 2024. CleanSpark has agreed to enhance future disclosures to include a breakeven analysis for bitcoin mining, detailing mining equipment and financing costs. The company will also revise its revenue recognition policies to be more transparent about the services provided as part of its bitcoin mining operations, the contract duration with the mining pool operator, and the measurement of non-cash consideration received in the form of bitcoin. These changes will be reflected in CleanSpark's upcoming filings, starting with the Form 10-Q for the quarter ending June 30, 2024. The company's CFO, Gary A. Vecchiarelli, has provided detailed responses to the SEC's comments and has included proposed revisions in an attached Exhibit A.

CleanSpark, Inc. has responded to the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance regarding comments on its financial filings. The SEC's Office of Crypto Assets had previously issued comments on CleanSpark's Form 10-K for the fiscal year ended September 30, 2023, and Form 10-Q for the quarter ended March 31, 2024. CleanSpark has agreed to enhance future disclosures to include a breakeven analysis for bitcoin mining, detailing mining equipment and financing costs. The company will also revise its revenue recognition policies to be more transparent about the services provided as part of its bitcoin mining operations, the contract duration with the mining pool operator, and the measurement of non-cash consideration received in the form of bitcoin. These changes will be reflected in CleanSpark's upcoming filings, starting with the Form 10-Q for the quarter ending June 30, 2024. The company's CFO, Gary A. Vecchiarelli, has provided detailed responses to the SEC's comments and has included proposed revisions in an attached Exhibit A.