On August 30, 2024, CleanSpark, Inc., a Nevada-based company, reported the entry into a Material Definitive Agreement with Dr. Thomas Wood, an independent member of the company's board. CleanSpark agreed to issue and sell one million shares of its Series X Preferred Stock to Dr. Wood for $1,000. This transaction coincides with a special stockholders' meeting called to approve an increase in authorized common stock from 300 million to 600 million shares. The Series X Preferred Stock, with each share having 1,000 votes, will vote exclusively on the proposed increase of common stock and related matters. The stock is non-convertible, does not entitle holders to dividends, and will be redeemed after the stockholder vote on the increase. Additionally, CleanSpark amended its bylaws to reduce the quorum required for stockholder meetings, aiming to lower the risk of not achieving a quorum and avoiding additional costs and business disruptions.

On August 30, 2024, CleanSpark, Inc., a Nevada-based company, reported the entry into a Material Definitive Agreement with Dr. Thomas Wood, an independent member of the company's board. CleanSpark agreed to issue and sell one million shares of its Series X Preferred Stock to Dr. Wood for $1,000. This transaction coincides with a special stockholders' meeting called to approve an increase in authorized common stock from 300 million to 600 million shares. The Series X Preferred Stock, with each share having 1,000 votes, will vote exclusively on the proposed increase of common stock and related matters. The stock is non-convertible, does not entitle holders to dividends, and will be redeemed after the stockholder vote on the increase. Additionally, CleanSpark amended its bylaws to reduce the quorum required for stockholder meetings, aiming to lower the risk of not achieving a quorum and avoiding additional costs and business disruptions.